News Bites
New ETF boycotts 'liberal' companies 'hostile to conservative values'
Tom Carter, president of the American Conversative Values ETF (ACVF) said that politics do not belong in the C-Suite.
“We believe those CEOs should not put their own values in front of shareholder values in regards to political-type decisions,” Carter told David Lin, anchor for Kitco News.
Carter’s ACVF ETF does not select holdings based on a metric of the most “conservative” companies; they simply remove “liberal” leaning companies from the broad equity index.
“We chose to select the S&P 500 or large cap indices like that and we decided to eliminate companies that we thought were the most liberal,” he said.
Some companies on ACVF’s boycott list include: Coca-Cola, Delta Airlines, Apple, Amazon, Alphabet Inc (Google), Twitter, and Facebook.
These are companies that, according to ACVF’s website, either suppress the freedom of speech, First Amendment Rights, or are “hostile to conservative values or are proudly liberal.”
Carter’s comments come as more and more companies take political sides.
Recently, hundreds of companies, including Amazon, Starbucks, Netflix, and Facebook, have opposed changes to Georgia’s voting laws.
In a joint statement this week they said that “we must ensure the right to vote for all of us,” seemingly rebuking the changes to Georgia’s voting system that some have claimed to be more restrictive for voters.
Some companies have even taken steps to move their business out of Georgia. Major League Baseball (MLB) announced that it are moving their 2021 All-Star Game out of Atlanta in response.
