Strange brew: Why did Florida’s pension fund hold $50M of ‘woke’ Bud Light parent company stock?
Florida pension funds under DeSantis also took a bath because they invested in Russia, and because DeSantis gave control of Florida’s pension funds to managers who donated to his campaign. Still they’re using this as an excuse to push their culture war.
The modern GOP, it’s corruption all the way down.
DeSantis lamented the company’s “political agenda,” as embodied by hiring spokesmodel Dylan Mulvaney, as having cost shareholders, especially in Florida, where the state seems to have held stock for months as the state’s politicians and others on the right mocked the brand and helped to erode its market share.
It is impressive how consistently the “party of personal responsibility” finds someone else to blame for the consequences of its own actions.
Alternative Title: “Meatball Ron is looking for another court to lose in.”
I doubt this will ever go to court. Discovery would be too interesting because InBev has better lawyers & they will get access to the FLGOPs emails. May even be able to prove in court that the FLGOP tanked Florida’s financial interests.
DeSantis gets spanked in courtrooms so often I’m starting to think that’s his kink.
DeSantis got to use his office to virtue signal far and wide for free in order to promote himself. So what if his behaviors are illegal and his claims don’t stand up to the most basic of scrutiny? Once it goes to court and he loses, his behaviors are just going to cost the people of Florida dearly and harm them for the foreseeable future. Since the base he’s catering to has the attention of fruit flies only the headline will be remembered and not causality or consequences. No skin off Ron’s back. Perhaps if he were legally personally liable for the damage he’s causing he’d give a shit.
- Invest in company’s stock
- Wage a culture war boycott on company
- Company’s stock tanks due to boycott
- Sue company for stock tanking
Makes perfect… sense?
5.) ImBev finds evidence of the GOP promoting the boycott in Discovery & counter sues them.
Will these whiney dipshit snowflakes also sue the other companies whose stocks did not result in profit?
Conservatives are grotesque, vile, sub-humans who delight in misery. They are a plague of constant lies and temper tantrums.
I believe any corporation that does not maximize profits for shareholders can be sued for dereliction of fiduciary duty. The problem here is that InBev was trying to maximize returns by promoting their beverage via a trans celebrity, which just happened to piss off bigots in the GOP. It was never about the losses to Florida’s pension fund, which are minimal, (~$600k out of ~180billion.) I suspect DeSantis is just trying to scapegoat others for his mishandling of Florida’s pensions and trying to vilify InBev for being inclusive, similar to what he tried with Disney.
I can only hope this will lead to corporations pulling support from the GOP.
Not to mention ImBev stock is still up over the year before. The stock market is a casino & the GOP doesn’t have a leg to stand on. Fascist Ron DeSantis already knows this being a lawyer.
Perfect example of FAFO.
