For a better understanding of how the pressure of woke politics is being applied to corporations in a push for communism, watch this short video.
(Fox News) Woke corporate governance, which recently led to the fiscal hemorrhaging of Anheuser-Busch and Target, often begins with investment firms pressuring them to behave in certain ways, a former executive at the beer conglomerate said.
Anson Frericks told “Jesse Watters Primetime” a lot of the lead-up to decisions — such as the one at his former firm involving transgender activist Dylan Mulvaney that led to a nationwide boycott of Bud Light — stem from the politicking of firms like New York-based BlackRock and Pennsylvania-based Vanguard.
Altogether, BlackRock, Vanguard and another firm, State Street, manage about $20 trillion in capital, Frericks said, noting it is not truly “their” money but that of the investments of Americans’ mutual funds and state pension funds.
“In California, for example, they recently have mandated those large pension funds that they divest from things like fossil fuels and oil and gas, and then when Bill de Blasio, [former] mayor of New York, was there, he did the same thing,” he said.
“But they also tell BlackRock, State Street and Vanguard if they’re going to manage their money, they have to commit to things like ESG — diversity, equity, inclusion — and adopt firm-wide commitments that they therefore then force onto all the major companies in corporate America.”
Frericks said he left his post at the St. Louis beer manufacturer in part because of the way much of corporate America was acting in terms of defying public sentiment when engaging in politics.
He pointed to Atlanta, home to Coca-Cola and Delta Airlines, which became outraged after Georgia’s legislators passed election integrity laws.
Frericks said he was living in the city at the time and witnessed those companies’ corporate responses to the legislative process — as well as that of Major League Baseball, which punished the state by moving the All-Star Game to more progressive Colorado.
“You had the citizens of Georgia, they voted for representatives to make sure we could have election integrity laws. You have to have an ID to vote, and for that ID to vote — this seemed like a pretty logical law. I was kind of surprised in Georgia didn’t have it,” he said.
“But what was crazy to me was that after the fact, BlackRock came out and they said, ‘We’re against this law. We think this is bad for democracy, this is bad for society,’ and they basically then had companies like Coca-Cola, like Delta and heck — even Major League Baseball, they canceled an All-Star Game over this.”