Hey, I agree with you. I don't find them conservative at all. But they claim to be 'fiscal conservatives' on their website, and I've seen them be openly hostile to social conservatives, who of course aren't 'inclusive' and 'mainstream' like the New Majority.
http://la.thenewmajority.com/about/mission.php
Mission StatementThe New Majority will broaden the appeal of the Republican Party by promoting a fiscally responsible philosophy toward government and lending resources to Republicans who support an inclusive, mainstream approach toward politics.