Posted on 06/04/2019 7:32:41 AM PDT by SeekAndFind
Trump-hating liberal activists know how to cause trouble. With record low unemployment numbers and a thriving economy, we have seen well organized activists interrupting town halls, blocking traffic in major cities, and using violence.
But there is an awful type of activism happening out there, and it affects us all. Even though this activity is underreported, it affects everyone's 401(k) retirement savings.
Shareholder activists are taking direct aim at companies — such as oil companies and gun-manufacturers — by abusing rules that publicly traded companies must follow to promote a far-left agenda. Instead of trying to pass gun control laws through Congress, they are forcing public companies to bend to their will. What they are doing is dangerous.
The most recent example happened to the legendary gun-maker Smith & Wesson. As The Free Beacon reported, an obscure women's group called the Adrian Dominican Sisters has organized its 600 members to become marginal shareholders in gun companies to pass far-left political resolutions. In this case, Smith & Wesson's parent company was forced to do a study about so-called "smart guns." After an expensive process, the report showed that "smart guns" are not viable, and consumers overwhelmingly do not blame gun-manufacturers for crimes committed by criminals with their products. Both results are common sense.
Ultimately, Smith & Wesson emphasized that its reputation for supporting the Second Amendment was much more important than attempting to appease its critics.
Other asset-managers and hedge fund leaders are willing to cave to activists — in the form of "virtue-signaling" — because they fear retribution and take actions not in the shareholders' best interest. For example, Dick's Sporting Goods' CEO, Edward Stack, frequently speaks about how his company is losing money to stop selling guns
(Excerpt) Read more at americanthinker.com ...
I moved out of my 401K. My brother is an investment counselor. He warned me about this stuff a couple of decades ago. The only good thing about 401k’s is the employer’s matching funds. Once you can roll it over into something else, do it.
It’s important to know how S & M was FORCED to do the study.
Forced by PC or by law.
If it’s not by law, tell the sisters to go #### themselves next time.
Monetary seizure.
Kinda like Chavez/Maduro.
And that is exactly why I will never buy anything from Dick's.
But I will go in their stores, to touch, feel and hold items before I go home and buy them on line.
Well, both, actually. The company is supposed to do what its owners (the shareholders) want. That’s not a loophole, that’s just common sense, but libs turn it into one by buying a few shares and becoming nominal owners. The law didn’t contemplate company ownership weaponized by those whose real agenda doesn’t lie with the interests of the company, so company rules and the law need to adjust to protect against this.
Let the manager know that’s what you’re doing.
Done did.................
Or, in the more polite terminology of Clint Eastwood during his speech to the empty chair at the 2012 GOP convention:
" . . . do something to yourself which is anatomically impossible."
This planned seizure of our retirement $’s by the rats in power, is not new.
The rat thugs talked about this during the Clinton and Obama years of armed robbery via the IRS and Congress.
This is another reason to reelect President Trump.
They need to control the WH, the Senate and the House to steal your 401K.
Then they will move very quickly.
The bill will be very long, the language will be impossible to decipher for mere mortals, and it will be passed in the dead of night on a holiday weekend.
And they’ll have to pass the bill to know what’s in it.
Title is misleading at best.
I have always feared that since your 401K is tax deferred and that not only have you not been taxed, it is money that you have not even got yet. It is just a number of a piece of paper, and not very liquid. Once Congress decides it needs a way to fund Social Security in the future as Baby Boomers move in the retired category, I always felt that they would Nationalize 401Ks and give me some bogus enhanced Social Security in exchange. Since many Americans may not even have a 401K of any size, this may not be hard to sell to voters.
Theresa Ghilarducci of The New School proposed over a decade ago that the FedGov just seize all the balances and roll them into a massive centrally managed government pension plan.
Sooner or later that WILL happen I’m afraid.
They would have to also announce a moratorium on withdrawals, because the moment it looks like it will happen, everyone will withdraw all their money, penalty or not.
It's about left-wing activists buying stock in companies so they can attend annual shareholder meetings and try to force the boards to vote on left-wing resolutions that might drive down share prices.
It's an indirect attack on 401(k)s, but only if corporate boards give in.
-PJ
Wow. It’s so hard to believe but then it needs to be changed.
He did?!?!
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