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In response to so many Fortune 500 companies from Lockheed Martin to Coca-Cola going “woke,” a group of conservative Wall Street players have launched two special investment funds that contain no “woke,” left-wing companies.
The American Conservative Values ETF and the 2ndVote Advisers ETF are both “led by directors who seek companies that have not launched ad campaigns or issued bulletins that they think prioritize liberal politics more than profits,” according to a report from The Washington Times published Sunday.
“I sometimes say this real slow when talking to professional economists, but we believe the companies that focus on their profits will be better investments than those that focus on social justice,” 2ndVote Advisers ETF director Andy Puzder said.
Indeed, for the most part, going “woke” still means going “broke,” in that companies who embrace left-wing radicalism tend to suffer significant declines in earnings.
Procter & Gamble takes massive $8 billon hit as Gillette launched its ‘toxic masculinity’ campaign https://t.co/bQ82dsMNi9
— Conservative News (@BIZPACReview) August 1, 2019
Because corporations going “woke” is a recent phenomenon, American Conservative Values ETF and 2ndVote Advisers ETF are constantly evolving.
On Friday, for instance, American Conservative Values ETF dropped its shares in Bank of America, Lowe’s, American Express and even the Nasdaq.
In a press release, the ETF accused the first three companies of having “begun teaching their employees Critical Race Theory (CRT).”
“In light of news that these companies have instituted employee training based on critical race theory, which teaches that America is an inherently racist and evil country, we cannot in good faith continue investments into these with our investors’ money,” ETF CEO William Flaig said in a statement.
The ETF meanwhile pulled its shares of Nasdaq because late last year it “sought and has since received approval from the Securities and Exchange Commission for new rules that force companies with listed shares on NASDAQ to meet racial and gender requirements in the name of forced diversity quotas.”
Sounds about “woke.”
— Conservative News (@BIZPACReview) April 7, 2021
As of late August 2021, the list of dropped/boycotted companies included all of the following:
- American Express Company
- Bank of America Corporation
- Lowe’s Companies, Inc.
- Nasdaq, Inc.
- Delta Air Lines, Inc.
- The Coca-cola Company
- Apple Inc
- Amazon Com Inc
- Alphabet Inc Class C
- Alphabet Inc Class a
- Blackrock Inc
- Comcast Corp-class a
- Salesforce.com Inc
- Walt Disney Co/the
- Dick’s Sporting Goods Inc
- Facebook Inc-class a
- General Motors Co
- Goldman Sachs Group Inc
- Johnson & Johnson
- Jpmorgan Chase & Co
- Nike Inc -cl B
- New York Times Co Class a
- Progressive Corp
- Starbucks Corp
- At&t Inc
- Twitter Inc
- Verizon Communications Inc
- Walmart Inc
All this comes as the war against “woke” is heating up across America, with even some high-profile left-wingers saying they’ve had enough.
In May, the 92-year-old Consumers’ Research nonprofit started producing commercials slamming “woke” corporations such as American Airlines, Coca-Cola and Nike for placing political ideology ahead of their customers.
“Increasingly we’re seeing companies taking their eye off the ball. Our focus is always on the consumer. And that’s what it should be for these companies as well, but increasingly we’re seeing them work to curry favor with woke politicians, rather than focusing on serving their consumers,” the non-profit’s executive director, William Hild, told CNBC at the time.
Like other “woke” media outlets, CNBC painted them with a negative brush: It trashed the non-profit as a “dark money group” and mocked them for “casting” the CEOs of “woke” corporations “much like opposition candidates in a political campaign.”
https://t.co/wgVwNN3EwJ Go woke, go broke.
— Jack Furnari (@JackBPR) May 19, 2021
The ad-purchasing came around the same time that “woke” corporations began espousing false Democrat Party talking points about the election integrity laws being pursued by Republican governors across the state.
Speaking about this phenomenon in April, Fox News host Steve Hilton said the corporations had no idea what they were talking about. It was as if they were just reading a script written by the Democrat National Committee.
“These CEOs are either lying or wading into America’s most inflammatory issues without knowing what they’re talking about,” he said.
“The only actual proposal that undermines democracy is the Democrats’ HR1, which among other anti-American horrors, unconstitutionally nationalizes elections and pushes banana republic atrocities like ballot harvesting, which replaces one person, one vote with one union activist, 500 votes.”
— Conservative News (@BIZPACReview) April 12, 2021
He further warned the CEOs of “woke” corporations to be careful of what they wish for.
“You think you can buy off the mob with pandering press releases while business as usual continues? Oh, no. You want to behave like Democrat politicians? Fine. That’s how we’ll treat you. You have no idea how painful this is gonna get for your companies and for you personally,” he said.
And indeed, in the months since Hilton’s these corporations have faced relentless attack ads from Consumers’ Research and now even stock market competition from the American Conservative Values ETF and the 2ndVote Advisers ETF.
Why invest in “woke” when you can invest in profit?
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