Posts tagged with: ALEC

Blog author: bwalker
posted by on Friday, November 1, 2013
No! Not the Dark Money!

No! Not the Dark Money!

“Dark money” sounds menacing and foreboding – a financial nomenclature suggestive of gothic masterpieces like “The Raven” and “The Black Cat.” Whereas Poe’s tales actually contain sinister elements, the phrase dark money is employed by activist shareholders much like the villains of countless “Scooby Doo” cartoons devised illusory ghosts, werewolves and vampires. The evildoers wanted to scare those meddlesome Mystery Machine kids from nefarious moneymaking schemes.

The anti-capitalism messages of “Scooby Doo” are repeated by those ominously intoning the perceived evils of so-called dark money in politics. In ordinary political usage, dark money refers to funds raised to finance an election campaign or ballot initiative without any requirement of public disclosure before voters decide the question.

Shareholder activists have torn a well-worn page from the “Scooby Doo” playbook by adopting the tactics of the show’s bad guys. These tactics include attempts to frighten voters with the dark money bogeyman, who lurks behind other pet issues such as genetically modified organisms and fracking (hydraulic fracturing). (more…)

Astute Acton readers more than likely are aware already that U.S. Sen. Dick Durbin (D-Ill.) has fired another salvo in the ongoing battle to silence conservative voices. Durbin joins our progressive friends in the Interfaith Center on Corporate Responsibility and As You Sow – both involved in proxy shareholder resolutions that would force companies to disclose donations to nonprofits – in their attempts to declare lights-out on the American Legislative Exchange Council.

At issue for Durbin is ALEC’s draft legislation called the “Castle Doctrine Act,” based on Florida’s “Stand Your Ground” law. Apparently, Sen. Durbin doesn’t like either, in much the same fashion ICCR and AYS dislike ALEC’s stand on climate-change, genetically modified organisms, Citizens United  and “Castle Doctrine.”

In his letter sent last week to right-of-center and free-market think tanks across the country, Durbin demands “yes or no” answers. The numbered questions below are lifted directly from the Aug. 6 letter sent to the Center of the American Experiment in Minneapolis:

  1. Has Center of the American Experiment served as a member of ALEC or provided any funding to ALEC in 2013?
  2. Does Center of the American Experiment support the “stand your ground” legislation that was adopted as a national model and promoted by ALEC?
  3. (more…)

Perhaps nothing invigorates the left more than climate change and the exercise of free speech in the political arena – imagine their combined dyspepsia when these two issues converge. This is what is occurring with regrettable frequency as Walden Asset Management, Ceres and the Interfaith Council on Corporate Relations have joined a rogue’s gallery of progressive organizations issuing proxy shareholder resolutions urging a variety of companies to disassociate from the American Legislative Exchange Council.

On June 25, Ernst & Young issued a report titled “Key Developments of the 2013 Proxy Season.” The document states: “Shareholder influence in the boardroom is growing. Investors are using proxy voting and shareholder proposals to challenge a wide spectrum of corporate governance practices – from board diversity, to focus on environmental topics, to transparency around political spending.”

We know from previous reports these past few months that many religious investment groups have mounted the barricades of proxy investment activism to forward progressive causes. And their fingerprints smudge the resolutions submitted to businesses to further agendas far removed from spiritual faith whilst wedded to the latest causes celebre of the left, including eliminating corporate funding of ALEC. (more…)

On January 31, the Interfaith Center on Corporate Responsibility issued a press release, announcing the organization’s “2013 Proxy Resolutions and Voting Guide.” A quick read of the release and ancillary materials, however, reveals that these resolutions have very little to do with issues of religious faith and everything to do with the progressive political agenda.

The ICCR guide “features 180 resolutions filed at 127 companies” that call on shareholders to “promote corporate responsibility by voting their proxies in support of investor proposals that advance social, economic and environmental justice.”

The ICCR boasts that “nearly one third” of this year’s resolutions (52) focus on lobbying and political spending, with the remainder aimed at “health care, financial and environmental reform.” The release ominously asserts: “Shareholders have a right to know whether company resources are being used to impact elections and public policy, including regulatory legislation.”

Whatsoever the ICCR resolutions have to do with the respective tenets of their member denominations is left to the readers’ imagination. (more…)