The issue has taken center stage recently as a number of high-profile companies—including Disney, J.P. Morgan, Levi Strauss and Microsoft—announced plans to cover travel expenses for employees seeking an abortion in the wake of the Supreme Court's reversal of Roe v. Wade. That followed other headline-making cases of businesses speaking out on social issues, such as Disney taking a stance on legislation in Florida restricting classroom instruction on sexual orientation and gender identity and dozens of companies from Silicon Valley to Wall Street pledging to fight racial injustice after George Floyd's death in 2020.
As an investor, I would want the companies I invest in, to focus on profits rather than trying to change the world.
ReplyDeleteThese social causes might or might not be legitimate causes to support, however the point is moot.
As an investor, I'm not interested in you doing your"mitzvos" in a manner that might affect the bottom line. My investmentis there to generate income for myself, not to lose money due to unjustified corporate spending, or twisted corporate decisions that negatively affect investor value.
Worse yet, many companies who get woke, lose significant market share due to their social justice policies. When you go woke, you might be on the path to going broke. As an investor, I can't afford to have the companies that I invest in go broke.
What you call "wrath", the rest of us call "pushing back" against hypocrisy.
ReplyDeleteBill Maher has a great piece on how celebrities and the entertainment industry demand stricter gun control laws and then release film after film full of gun violence. As for Disney, they push back against pro-gay legislation in Florida but edit out all gay activity from their films when they're released in China.
Silicon Valley has no problem working with the products of concentration camp labour from China. Uigher lives don't matter even if Blacks ones do.
The fight against injustice isn't a fight to create a new injustice - my group was previously oppressed, now we'll become the new oppressors, which is exactly what the Woke want to do.
Wow so the Republicans against Veterans and gun control are simply against hypocrisy - they are against censorship but Trump censors references to Jan 6 from his social media. when Republicans say they are for family values but have Trump as their guiding light it is not hypocrisy.
ReplyDeleteRepublicans are for law and order but don't see a problem with Jan 6 and have Kyle Rittenhouse as their hero along with Orban
And what if your fellow investors were more interested in changing the world
ReplyDeleteInvestors who are more interested in changing the world, at the expense of corporate profits, should ideally form their own corporations that reflect these progressive values, and clearly spell out these values in their charter of incorporation, and how these values will be prioritized.
ReplyDeleteEthical consideration would require them to be specific about the percentage of net profits that will be diverted to promoting these values, and how these funds would be allocated.
If management diverts funds from existing corporations that were not established along these lines, that is ethically akin to stealing from pre-existing shareholders, who are being denied a certain percentage of the profits that justly belongs to them.
However there can be another scenario where shareholders are empowered to be in charge of key decisions such as social initiatives, rather than getting an outsider to make the decision on their behalf.
I argue that even if the majority of shareholders vote for these social initiatives, nevertheless, this still involves a departure from the original terms under which their partnership was formed, and Halacha would look with a jaundiced eye at the diversion of funds from those partners.
Incorrect. Most investors are interested in the bottom line - getting value from their shares. The amount owned by true activists is quite small but they use social media as a bully platform to give themselves an influence they don't deserve.
ReplyDeleteIs a Jew allowed to invest in an ant-Jewish or anti Israel company?
ReplyDeleteThere's a mishna that forbids selling weapons to rashaim.
ReplyDeleteSo investing in such a company...?
Eg rifle manufacturers in USA, who sell to murderers?
“As 'Woke' Businesses Face Right-Wing Wrath” Should USA companies wade into politics? No. This makes for baseless hatreds.
ReplyDeleteOn the subject of the 9th of Av Yoma 9b:
“R. Johanan and R. Eleazar both say: The former ones whose iniquity was revealed [Who did not hide their misdeeds (Rashi)] had their end [i.e., the end of their captivity. Jer. XXIX, 10: For thus saith the Lord: After seventy years are accomplished in Babylon, I will remember you and perform My good word to you, in causing you to return to this place] revealed, the latter ones whose iniquity was not revealed have their end still unrevealed. R. Johanan said: The fingernail of the earlier generations [The earlier generations are, of course, those of the first Temple, the later ones Israel since the second destruction.] is better than the whole [lit. , the belly] body of the later generations. Said Resh Lakish to him: On the contrary, the latter generations are better [Or better off. There is a slight shift in the argument. R. Johanan had referred to their value, Resh Lakish to their political and moral condition.], although they are oppressed by the governments, they are occupying themselves with the Torah. He [R. Johanan] replied: The Sanctuary will prove [my point] for it came back to the former generations, but not to the latter ones. The question was put to R. Eleazar: Were the earlier generations better, or the later ones? He answered: Look upon the Sanctuary! Some say he answered: The Sanctuary is your witness [in this matter]. [It came back to them after the first destruction, it has not come back to us as yet. There is only a slight difference in Hebrew between the two versions עיניכם and עידיכם.]”
My theory. The generations of the first temple were deep into belief in God and in Torah but were sorely tempted with the yezer hara. All the avodah zara, murder, and adultery---which die than commit such sins---were yezer harah stuff. God after 70 years allowed the rebuilding of the temple, we had Nechemia and Ezra etc. The generations of the 2nd temple were less in deep belief in God and in Torah but were highly active in petty rivalries similar as Moses faced in דברים א.
“How can I bear unaided the trouble of you, and the burden, and the bickering! Pick from each of your tribes men who are wise, discerning, and experienced, and I will appoint them as your heads” (Deuteronomy 1:12-13).
דברים פרשת דברים פרק א פסוק יב - יד
(יב) אֵיכָה אֶשָּׂא לְבַדִּי טָרְחֲכֶם וּמַשַּׂאֲכֶם וְרִיבְכֶם:
(יג) הָבוּ לָכֶם אֲנָשִׁים חֲכָמִים וּנְבֹנִים וִידֻעִים לְשִׁבְטֵיכֶם וַאֲשִׂימֵם בְּרָאשֵׁיכֶם:
רש"י דברים פרשת דברים פרק א פסוק יג
אנשים - וכי תעלה על דעתך נשים, מה תלמוד לומר אנשים, צדיקים [כסופים]:
חכמים - (כסופים):
Rashi says citing Sifrei 13: Could it enter your mind (that the judges were to be) women? Why does the Torah say men? (To indicate that they must be) righteous men, (reliable ones,) who are revered.
Hertz Chumash 738-739: “12. Myself alone bear. Moses now proceeds to recall how the task of government had grown beyond his powers. your cumbrance. Your troublesomeness; the people made the leader’s task heavier by placing obstacles in the way (Sifri). He did not have their cooperation and assistance. burden. ... strife. They were quarrelsome... “
We’re still facing petty rivalries today. I say this is why Elijah hasn’t come. If one has deep faith in God, he would be content with his lot in life and not lust after women other than his wife, not scheme to get power and riches etc. I try to live like the generations of the first temple and learn daf hayomi. BTW I'm still taking rabbi exams because I passed only some. Last week Sunday and Monday in Jerusalem from 10 am - 4 pm I took 2 exams. I write my interpretation of the Tanack, Mishnah, and Gemarah. I get the mitzvah of learning Torah.