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Tuesday, June 15, 2021

The Real ExxonMobil Story Is the Boundless Ego of BlackRock’s CEO

Last week, Exxon Mobil, one of the world’s largest publicly traded international oil and gas companies, lost a critical board fight with Engine No.1, a “woke” small investor group. The win was predictably spun by the mainstream media as a David vs. Goliath story as well as a milestone moment for a new type of altruistic Environmental, Social and Governance investor. The truth, however, is more cynical than heroic. Among other things, this is a story of how a billionaire like Larry Fink, a true Wolf of Wall Street, uses other people’s money to simultaneously camouflage his checkered past and help promote himself as an elder statesman of the markets, a beneficent oligarch with a penchant for saving the planet.

Monday, June 14, 2021

BlackRock’s ‘No. 1’ goal in ‘woke’ investing: Huge ESG-funds haul

Progressives love the story of Engine No. 1, a small activist investor that just fought its way onto the board of what many wokesters consider the most vile company in the world: oil giant Exxon­Mobil. Most activists — think Paul Singer and Carl Icahn — are in it for the money. Engine No. 1 wants to make money with a progressive twist: The fund’s founders argue that there’s gold in green.

Sunday, June 13, 2021

Corporatism Will Snuff Out Individual Rights Unless We Stop It

For too long, conservatives have blindly supported corporations. While trying to support “free markets” we might inadvertently be supporting corporatism, a form of economic totalitarianism where government and corporations collude to destroy individual rights. When I moved to Washington DC in 2002 to accept a position in the Bush Administration, I thought that corporations might be allies of conservatives who were promoting free markets. I was wrong. Over many years working in public policy, I have been disgusted by corporate attempts to utilize the government to destroy fair competition by any means necessary.

Saturday, June 12, 2021

Corporations change their logos to rainbows for Pride Month, but not in areas where LGBT is forbidden

As we enter June, which is Pride Month, a plethora of corporations and businesses are showing their support for the LGBT community by altering their logos on social media into rainbows. Bethesda, Bank of America, Mercedes-Benz, Microsoft, and many others had their rainbow logos ready to rock at midnight on June 1st. Social media has noticed, however, that almost almost all of these companies are showing their support exclusively in regions where gay, lesbian, bisexual, and transgender people are generally accepted. Specifically, these rainbow logos are nowhere to be found on their Middle Eastern or African accounts.

Friday, June 11, 2021

Ken Blackwell: Court Ordering MLB All-Star Game Back to Atlanta ‘Would Be a Win-Win for Everyone’

Ken Blackwell, former mayor of Cincinnati, Ohio, told Breitbart News on Friday that a court order for Major League Baseball (MLB) to return its All-Star Game to Atlanta “would be a win-win for everyone.” The MLB rescheduled its All-Star Game — moving it from Atlanta to Denver — following Georgia’s enactment of election laws in March. Dubbed the “Election Integrity Act of 2021,” the bill implements voter ID requirements across all methods of voting. MLB Commissioner Rob Manfred acknowledged the political motivation of his decision, saying it was “the best way to demonstrate our values as a sport.” He added, “Major League Baseball fundamentally supports voting rights for all Americans and opposes restrictions to the ballot box.”

Thursday, June 10, 2021

Should the SEC Require More Climate Data from Public Companies?

This week, Case Western Reserve University law professor (and CEI alum) Jonathan Adler hosted a fascinating event titled “Climate Change, Financial Markets & Corporate Disclosure,” with law professors and financial regulation experts Madison Condon and Kevin Haeberle. This was especially timely, as the event description pointed out: “In March, the Securities and Exchange Commission asked for public input on whether current disclosure requirements adequately inform investors, market participants, and the public of climate-related risks…”