Shareholder activism, according to the headline in the most recent issue of PRWeek, is “rising” and “big companies [are] in crosshairs.” The ensuing article by Brittaney Kiefer, begins:
Shareholder activism used to be just a nuisance that arose during proxy season, involving a group of contentious investors who tended to target smaller or less established companies.
However, in recent years activists have set their sights on larger companies, and more traditional investors are joining those fights. As shareholder activism goes mainstream, companies are becoming more proactive in engaging investors year-round, communications professionals say.
Ms. Kiefer’s article is a fine example of objective reporting on the growing trend of shareholder activism, but she avoids untangling the Gordian knot of interests behind these increasingly concerted efforts by leftist activists. These efforts include the recruitment of such religious-based investment groups as Walden Asset Management, the Interfaith Center on Corporate Responsibility, the Needmor Fund and various and sundry Unitarian Universalist collectives to sprinkle – albeit disingenuously – holy water on the whole progressive agenda. Explains Kiefer:
An activist shareholder is an investor who attempts to use his or her stake in a publicly traded corporation to affect change at the company. Activists often launch campaigns that put public pressure on companies, tackling issues such as executive compensation, management structure, or corporate strategy.
Sounds rather benign, no? Actually, as noted here and here, these groups have metastasized from mere nuisance to genuine threats to not only corporate (and shareholder) profitability, but to free speech (including scientific debate) and helping the nation’s (and world’s) poorest. (more…)