Another way BlackRock influences companies is by placing activists on the board of directors. Most recently, the activist investor targeted Exxon Mobile. The Wall Street Journal reports:
Exxon Mobil Corp.’s remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape, according to people familiar with the matter.
Members of the board—which includes three directors successfully nominated by an activist investor in May and two other new members—have expressed concerns about certain projects, including a $30 billion liquefied natural gas development in Mozambique and another multibillion-dollar gas project in Vietnam, the people said.
CEO Larry Fink and BlackRock will contribute to making the lives of the same Americans who hand over their retirement savings to the firm worse. The country is already suffering from skyrocketing energy costs, and continued increases will cause additional increases in the prices of food and other consumer goods. Meanwhile, BlackRock is one of the largest buyers of bonds in the flailing Chinese Evergrande Group. Many financial analysts expect the company to fail, and according to Hild, the CCP has indicated Chinese investors will be first in line to recoup any losses. Just another way Fink and BlackRock put America last.
What are the funds managed by BlackRock?
They do not list them on their statements or web site.
I cut my Blackrock holdings by 50%
Only have one CEF in corporate bonds now
I was shocked to discover that I have some shares in this Blackrock.
I don’t usually look at the monthly statements, just at the totals but I found a line showing Blackrock... I guess this is the same outfit anyway..
BLACKROCK MULTI ASSET INCOME INVESTOR CL C BCICX 3,646.861 $11.36
Biden Administration Could Be Emboldening Communist China and Weakening America.
Biden Administration Could Be Emboldening Communist China and Weakening America.