Reminder: Left’s shareholder activism hits pensioners, small investors hardest

Reminder: Left’s shareholder activism hits pensioners, small investors hardest
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[Ed. – This is always the case.  Left-wing activism routinely abuses the most vulnerable people, and without compunction.]

Shareholder activists are taking direct aim at companies – such as oil companies and gun manufacturers – by abusing rules that publicly traded companies must follow to promote a far-left agenda. Instead of trying to pass gun control laws through Congress, they are forcing public companies to bend to their will. What they are doing is dangerous.

The most recent example happened to the legendary gun maker Smith & Wesson. As The Free Beacon reported, an obscure women’s group called the Adrian Dominican Sisters has organized their 600 members to become marginal shareholders in gun companies to pass far-left political resolutions. … Smith & Wesson’s parent company was forced to do a study about so-called “smart guns.” After an expensive process, the report showed “smart guns” are not viable…

Dick’s Sporting Goods’ CEO Edward Stack frequently speaks about how his company is losing money to stop selling guns while claiming it was the right thing to do. It is doubtful that elderly shareholders counting on those stock dividends for retirement would agree.

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