Not all of corporate America has bowed the knee to goose-stepping leftists. One group is organizing the resistance and taking a stand.
Ed Rensi, the former CEO of McDonald’s, among other titles he has had over the years, will be leading the resistance as leader of a new group launched to be a counter-weight to the left’s hijacking of our Fortune 500 boardrooms.
They are launching a group called ‘The Boardroom Initiative’ (website: here) that describes their mission in simple terms:
The pursuit of life, liberty, and happiness for you, your family, and the generations to follow has fueled the American economy for centuries, creating some of mankind’s greatest innovations and companies. Now, free-market capitalism—a system responsible for lifting billions of people out of poverty and improving the worldwide standard of living—is under attack.
Elitist investment fund managers, like Engine No. 1 and Blackrock, are slowly infiltrating American corporations by embracing woke cancel culture and prioritizing Environmental, Social and Government (ESG) scores and leveraging your 401k to do so, leaving shareholders and employees disenfranchised. — Boardroom Initiative
They will be turning their attention to Bank of America and demanding an audit of their race policies.
Per the Press Release on the Job Creators Network website:
Today, Job Creators Network Foundation (JCNF), Free Enterprise Project, and Second Vote are launching The Boardroom Initiative to defend shareholders, employees, and communities from “woke” policies at corporations and ensure corporate accountability. By increasingly wading into the culture wars, companies threaten shareholder returns and retirement security for countless Americans. They also threaten their employees and communities that depend on these companies for jobs and economic growth. Ed Rensi, former president and CEO of McDonald’s USA, will lead The Boardroom Initiative as Executive Chairman.
The Boardroom Initiative fights back against woke capitalism and empowers shareholders and employees as we strengthen our consumer-driven economy. Coalition partners will work to realign corporations with their core business goals through shareholder proposals, advancing viewpoint diversity on company boards, and utilizing digital channels to spread awareness of our mission.
“I have served on the board of McDonald’s Corporation, Famous Dave’s Bar-B-Que, Great Wolf Resorts, Snap-on Inc., JAFRA, and a few others,” said Mr. Rensi. “In every case those board members adhered to best practices for the benefit of the shareholders and the public good. Serving a vocal minority out of ignorance is absolutely unacceptable. When public companies take sides in political debates, it is to the detriment of company shareholders. Free market capitalism—a system responsible for lifting billions out of poverty and improving the worldwide standard of living—is under attack, and in too many cases, corporations are eagerly participating in these attacks out of a misplaced sense of virtue. The Boardroom Initiative, among other things, will take this fight directly into the boardroom by giving shareholders the tools to win the fight through shareholder proposals. I am pleased to lead this initiative and I am certain it will play a critical role in the fight for economic freedom and fair, fact-based civic discourse.”
The Boardroom Initiative’s first effort is a shareholder proposal at next week’s Bank of America annual meeting calling for a civil rights audit of the diversity policies at the company to ensure no race or gender groups are being excluded in the name of equity or anti-racism. The Boardroom Initiative coalition partner, Free Enterprise Project, has submitted the proposal. The Bank of America Board will vote on the proposal on April 26, 2022. To see the original letter sent to Bank of America click here, to read the shareholder proposal, click here. [emphasis added]
How are they doing it? With the purchase of 2000 Bank of America shares by members of the Boardroom Initiative, they are entitled to put forward a shareholder initiative at the next shareholder meeting which is where the audit comes in.
We know that ‘anti-racism’ is explicitly designed to discriminate against anyone who is white and/or male. It could not be otherwise, since an oppressed/oppressor model is (by design) a zero-sum game where one group must be pitted against another.
Any policies implemented to benefit the allegedly disadvantaged group are done with an eye to ‘righting past wrongs’ or ‘balancing disparities’. This results on policies based explicitly on race. Such policies are prohibited by law.
This is a creative citizen-led response to a real political problem we are facing.
We encourage such responses and hope to see more creative forms of resistance like this one.
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