Since opening for business in March 2005, the fund has bought very small stakes in nearly 400 different companies and used these tiny holdings to take their fight to the business establishment. The fund has zinged the Business Roundtable for insufficient vigilance in "defending capitalism and free enterprise against efforts in Congress to confiscate business earnings and shareholder assets." Last December, it challenged Microsoft to "reverse its recently announced plan to stop using PVC plastic as a packaging material." (Here's Microsoft's announcement.) In March it told General Electric that while the fund is all for GE's "Ecomagination" initiative, the company shouldn't put itself on the record in favor of government regulations of emissions. In March, Milloy, Borelli, and a colleague made a spectacle at the annual meeting of Goldman Sachs. (They're angered that CEO Henry Paulson is a tree-hugger, and that Goldman had given land in Chile to a conservancy group.)
On the other hand, God vs. Satan: Who's the better investor?
No comments:
Post a Comment