DeSantis weighs lawsuit against Bud Light parent over Florida pension fund losses

[HARK!]

The 2024 Republican presidential-primary contender said in a letter to state legal officials Thursday and an appearance on Fox News Channel that AB InBev’s Dylan Mulvaney campaign may have “breached legal duties owed to its shareholders” by aligning the brand with “radical social ideologies.”

“We must prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling,” Mr. DeSantis wrote in a letter to Lamar Taylor, the interim director of the State Board of Administration.

DeSantis weighs lawsuit against Bud Light parent over Florida pension fund losses

Florida Gov. Ron DeSantis is considering legal action against Bud Light’s parent company over its woke marketing campaign.

www.washingtontimes.com

 

[comana]

The 2024 Republican presidential-primary contender said in a letter to state legal officials Thursday and an appearance on Fox News Channel that AB InBev’s Dylan Mulvaney campaign may have “breached legal duties owed to its shareholders” by aligning the brand with “radical social ideologies.”

“We must prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling,” Mr. DeSantis wrote in a letter to Lamar Taylor, the interim director of the State Board of Administration.

DeSantis weighs lawsuit against Bud Light parent over Florida pension fund losses

Florida Gov. Ron DeSantis is considering legal action against Bud Light’s parent company over its woke marketing campaign.

www.washingtontimes.com

Maybe people should check what they are invested in before trying to cancel a major brand.

 

[HARK!]

Maybe people should check what they are invested in before trying to cancel a major brand.

Blame the victims?

Or maybe they should have options as to where their money is invested in these pension plans.

In the mean time, a lawsuit sounds like a good idea.

 

[Arcangl86]

I'm curious to see if a lawsuit is actually filed, but I'm really struggling to see what the basis of one would be. Making a bad business decision is not a violation of fiduciary duty.

 

[durangodawood]

This must be the Desantis campaign reboot we were promised: hey lets insert government into the running of corporations.

 

[Hans Blaster]

Maybe the pension fund should sue those who cranked up the outrage to punish ABInBev and their "Bud Light" brand.

 

[Hans Blaster]

Or maybe they should have options as to where their money is invested in these pension plans.

I'm sure the fire fighters and cops would vote down a company making a mass-market beer. No, wait, that doesn't make any sense.

 

[Pommer]

The 2024 Republican presidential-primary contender said in a letter to state legal officials Thursday and an appearance on Fox News Channel that AB InBev’s Dylan Mulvaney campaign may have “breached legal duties owed to its shareholders” by aligning the brand with “radical social ideologies.”

“We must prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling,” Mr. DeSantis wrote in a letter to Lamar Taylor, the interim director of the State Board of Administration.

DeSantis weighs lawsuit against Bud Light parent over Florida pension fund losses

Florida Gov. Ron DeSantis is considering legal action against Bud Light’s parent company over its woke marketing campaign.

www.washingtontimes.com

Just think of what this lawsuit will do to the stock price!
(Has Florida dis-invested in AB-InBev?)

 

[durangodawood]

If Desantis cared at all about the pension fund he should be visibly drinking a Bud Light at every public appearance.

 

[GreatLakes4Ever]

If Desantis cared at all about the pension fund he should be visibly drinking a Bud Light at every public appearance.

He should be drinking Landshark instead. Owned by InBev and brewed in Jacksonville. Helps the pension fund and the Florida economy.

 

[durangodawood]

He should be drinking Landshark instead. Owned by InBev and brewed in Jacksonville. Helps the pension fund and the Florida economy.

Well its Bud Light whos market share needs the big help that a suave influencer like Desantis could provide.

 

[HARK!]

This must be the Desantis campaign reboot we were promised: hey lets insert government into the running of corporations.

You might want to educate yourself. The government is a corporation. The government owns the controlling shares of most of the major corporations.

As you can see, a great portion of those shares have been purchased through the pension funds of government employees.

 

[Yttrium]

Between a hostile governor and the prospect of more intense natural disasters, big companies should seriously consider getting out of Florida.

 

[durangodawood]

You might want to educate yourself. The government is a corporation. The government owns the controlling shares of most of the major corporations.

As you can see, a great portion of those shares have been purchased through the pension funds of government employees.

I'm just trying to speak the language of free marketeers, which used to be how "conservatives" talked. I can see that doesnt go over well anymore.

 

[HARK!]

I'm just trying to speak the language of free marketeers, which used to be how "conservatives" talked. I can see that doesnt go over well anymore.

It's ironic that generally Liberals seem the most vocal when speaking of corporate Fascism; yet it also seems that they are the biggest contributors to that cause. Generally Conservatives still strongly support a free market. So long as we are in a market that is built on Federal Reserve Notes, and stocks that are manipulated with the futures market; we will remain in bondage.

 

[NxNW]

Blame the victims?

Or maybe they should have options as to where their money is invested in these pension plans.

Maybe so, but investing retirement money into individual stocks is a dumb idea regardless.

In the mean time, a lawsuit sounds like a good idea.

Whose fault is it the pension plan was invested in an unnecessarily risky manner?

 

[HARK!]

Maybe so, but investing retirement money into individual stocks is a dumb idea regardless.

Many government employees are forced to pay into these retirement plans.

Whose fault is it the pension plan was invested in an unnecessarily risky manner?

That's a loaded question. What major corporations, like Bush, would be immune to taking part in such reckless behavior?

 

[Hans Blaster]

You might want to educate yourself. The government is a corporation.

Touché. The government is *not* a corporation.

The government owns the controlling shares of most of the major corporations.

And here I thought these state pension funds were government owned or controlled corporate entities (and not actual arms of the state governments). Regardless of their "ownership/control", these pension funds exist to hold funds in trust for government employees and retirees for their future retirement payments. (And many states have pushed their future pension holdings into 403(b) and 401(k) accounts held with regular mutual funds.)

But, yes, institutional funds control large, if not majority, stakes collectively in most large, publicly traded corporations. Institutional investors include pension funds (public and the rare private pension fund), mutual funds, and hedge funds.

 

[Hans Blaster]

Whose fault is it the pension plan was invested in an unnecessarily risky manner?

Frankly a stock like AB InBev should not be risky at all. It is a mature industry (beverages) with potential for modest growth and some sensitivity to the economic cycle. (That is unless management takes big risks on mergers and acquisitions to meet "the market's" thirst for 'growth'.)

 

[Arcangl86]

Frankly a stock like AB InBev should not be risky at all. It is a mature industry (beverages) with potential for modest growth and some sensitivity to the economic cycle. (That is unless management takes big risks on mergers and acquisitions to meet "the market's" thirst for 'growth'.)

And it's not risky. AB InBev's stock is actually higher then it was a year ago. It was higher a few months ago, but it's not like this small snafu tanked the stock.