Corporate America imposing woke agenda ‘unknowingly’ on investors, Puzder says
Former CKE Restaurants CEO Andy Puzder discusses companies pushing investors into radical left policies without them knowing.
Former CKE Restaurants CEO Andy Puzder, while discussing funds that focus on "profits not politics," argued on FOX Business' "Mornings with Maria" that corporate America is pushing their "radical" agenda on investors without them knowing it.
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ANDY PUZDER: This was founded by three individuals, Dan Grant, who's now the CEO of Second Vote Advisors, Diane Black… former congresswoman from Tennessee, who was the head of the Senate Budget Committee, and her husband, David Black, who founded… Ages Science. We did this in reaction to this trend among investment banks and banks in general to follow this liberal agenda through what's called environmental, social and government investment criteria. And this is the dominant investment criteria out there now. And there's trillions of dollars behind this. And it really is a way to advance a social justice leftist agenda to impose that, I think unknowingly on many shareholders. Many shareholders have no idea they're investing in companies… that end up supporting this agenda. And… it pushes investors into things like, you know, radical environmental policies or other social justice goals.
And the idea was… we wanted the Blacks and Dan wanted conservative investors, libertarian investors to have an opportunity to invest in companies that focus on profit, that focused on shareholder returns, rather than this broad stakeholder capitalism idea. And when they focus on shareholder returns, also not to offend their conservative values. So we've got two publicly traded funds at the moment and they're doing well.
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The idea is, is to invest in companies that focus on profit, not politics. The investment theme being the companies that focus on profit will be more profitable than companies that don't focus on profit…
We've got two funds out there right now. One is EGIS, which is a Second Amendment fund. The other is LYFE, which is a fund that focuses on companies that don't offend people who are pro-life. And the idea is when you invest in these funds, we will focus on companies that make a profit. But there won't be there won't be companies, for example, in the Second Amendment fund that oppose Second Amendment rights. You know, they may be neutral. The majority probably will be neutral on the politics, neutral on the issues, but there won't be any that offend… will have companies that focus on shareholder returns, because… you know, when shareholders' returns are diminished because of a focus on these other social justice issues or because they don't invest in companies that really are profitable. But offend politics, that's really a tax on shareholders that reduces shareholder returns.
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