Posts tagged with: citizens united

Enter at your discretion ... The 'Dark Money Zone'

Enter at your discretion … The ‘Dark Money Zone’

Poor Rod Serling. Had the Twilight Zone and Night Gallery host lived it’s assured he’d provide the voice talent for the audio book version of Jane Mayer’s Dark Money: The Hidden History of the Billionaires behind the Rise of the Radical Right. He’d also have a steady gig lending his portentous phrasings to such addle-brained prose as the following from the Interfaith Center on Corporate Responsibility [readers may insert Serling’s “Submitted for your approval” at their discretion]:

Unchecked corporate cash in the form of political donations and lobbying expenditures has the power to exert undue influence over public policy and regulatory systems and threaten our democracy. Yet in spite of this power, most S&P 500 companies lack a formal system of lobbying oversight and don’t fully disclose how monies are being spent, particularly through third-party organizations like trade associations. Investors are concerned that lobbying expenditures may inadvertently be diverted to groups advancing agendas contrary to the stated missions of companies, setting up potential conflicts of interest and exposing companies to reputational risk.

Sigh. Mayer and ICCR are working both sides of their levitating, shaking bed of anti-First Amendment, anti-Citizens United paranoia with Mayer seeking political intervention on one side and ICCR haranguing corporate shareholders with proxy resolutions on the other. In the meantime, the Republic remains a bastion of the freedoms that conjure 24-hour night terrors for the author and the so-called “religiously motivated” shareholder activists.

The “dark money” bogeymen searched for under those quivering bedsprings share the last name Koch, and we just can’t have libertarian billionaires expressing free speech in the U.S. political system, according to Mayer, ICCR and a raft of other opponents that are hypocritically funded by progressive billionaires bearing names like George Soros, Bill Gates, Tom Steyer, Warren Buffett and Eric Schmidt – all noted by George Melloan in his review of Mayer’s book in the Wall Street Journal: (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…)

The progressive politicization of certain religious orders hurries apace, especially as we enter the season of shareholder activism, proxy ballot initiatives and “corporate social responsibility” lectures from religious groups and churches. This year may generate even more activity as a result of the left’s renewed efforts to undermine Citizens United vs Federal Election Commission.

Because many religious organizations are also shareholders in public corporations, their investments grant them a proxy voice in corporate policies. Unfortunately, this voice too often is used to promote policies that are often indistinguishable from secular-left political causes and may have little connection to the tenets of their respective faiths.

One oft-stated goal of these activists is “transparency.” They claim to rectify the perception the Supreme Court ruled erroneously in Citizens United when it declared unconstitutional the placing of limits on corporate and union political spending. But these attempts to pass transparency rules and regulations extend far beyond mere campaign funding by requiring that all corporations publicly divulge the recipients of their charitable giving. (more…)