A conservative group is finding a new way to fight liberal activists trying to influence large corporations. The Free Beacon reports:
Americans for Tax Reform announced a new project designed to counter activist investors who have passed resolutions potentially damaging to gun companies and other corporations as a means of achieving a political goal.
“ATR feels there is a need to protect the long-term interests of small investors and pension fund beneficiaries from activist shareholders, proxy advisory firms and Washington proposals that use financial institutions as the venue to enact the social and political agenda of few, that cannot be accomplished through the legislative process,” James Setterlund, executive director of the newly formed Shareholder Advocacy Forum, told the Washington Free Beacon. “The Shareholder Advocacy Forum will provide a voice for these shareholders and hold executives and directors accountable when they prioritize activist proposals ahead of their fiduciary responsibility.”
Publicly traded gun manufacturers have been a recent target of these investors. Smith & Wesson’s parent company was recently forced to conduct a study about the viability of “smart guns” and the reputation risks of selling firearms despite the company opposing the move.
“Today’s report complies with a Resolution that was passed by a small percentage of our shareholders in September,” American Outdoor Brands told the Free Beacon in February. “Despite the fact that the Resolution was put forward by parties whose interests were not aligned with those of our customers, or those of our shareholders seeking true risk mitigation and value creation, the report represents our good faith effort and investment of company resources. Its contents demonstrate that our reputation with our customers for protecting their Second Amendment rights, and our ability to manufacture the high-quality firearms they want to purchase, are paramount to sustaining and growing our market share and stockholder value.”
Conservatives would rather businesses simply make money, but liberals are already organizing to hijack corporations for their own nefarious ends. If conservatives band together, this would seriously balance off the small leftist interest groups intent on usurping corporate power.