Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Local)   Swedish pension funds dump Walmart investments to protest its union-busting ways   (thelocal.se ) divider line
    More: Cool, Walmart, Swedish, investments, International Labour Organization, union busting, pensions  
•       •       •

1403 clicks; posted to Business » on 04 Oct 2013 at 10:44 AM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



26 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2013-10-04 10:47:31 AM  
<GOODcatgoeshere.jpg>
 
2013-10-04 10:48:19 AM  
Sure, they do it now that Walmart is in the tank. Where were they with their moral stand 5 years ago?
 
2013-10-04 11:09:55 AM  
Are there any of those funds around that would invest your money in a moral and environmental way anymore? I remember they were a big thing about 8 years ago.
 
2013-10-04 11:10:51 AM  

hackalope: Sure, they do it now that Walmart is in the tank. Where were they with their moral stand 5 years ago?


Making money.

Now that people are realizing Wal-Mart's business model is no longer a beacon for capitalism, it doesn't hold the same profitability. It's great that they can be public about their objections to that business model, but I have little doubt that this is purely about their portfolio losing its growth rate.
 
2013-10-04 11:21:01 AM  

clkeagle: hackalope: Sure, they do it now that Walmart is in the tank. Where were they with their moral stand 5 years ago?

Making money.

Now that people are realizing Wal-Mart's business model is no longer a beacon for capitalism, it doesn't hold the same profitability. It's great that they can be public about their objections to that business model, but I have little doubt that this is purely about their portfolio losing its growth rate.


Tru dat. Walmart has far bigger problems, and I don't think their response to those problems will be to become a more responsible corporate citizen. When these cheapjack commercial empires collapse, they collapse fast. Walmart is fast becoming a brand with stank on it. And their business model has no flex in it - bent, it will shatter.
 
2013-10-04 11:43:04 AM  

groppet: Are there any of those funds around that would invest your money in a moral and environmental way anymore? I remember they were a big thing about 8 years ago.


There are a number of SRI (Socially Responsible Investing) mutual fund companies.  A lot of them have a religious tilt, which excludes a number of companies I have no beef with.  My favorite is Parnassus Investments.  I use several of their funds - personally and with investment clients.  They have pretty good Morningstar ratings, moderately low expense ratios, fairly nice performance, and moderately low purchase minimums.  In the past you often had to choose between SRI and better performance, or SRI and lower expenses.  Parnassus manages to give you the best of both worlds.
 
2013-10-04 11:56:55 AM  
clkeagle:Making money.

I'm not saying they're not doing good business, even if they're cutting bait a little late. I have a problem with the fux morality.
 
2013-10-04 12:06:37 PM  

suburbanguy: groppet: Are there any of those funds around that would invest your money in a moral and environmental way anymore? I remember they were a big thing about 8 years ago.

There are a number of SRI (Socially Responsible Investing) mutual fund companies.  A lot of them have a religious tilt, which excludes a number of companies I have no beef with.  My favorite is Parnassus Investments.  I use several of their funds - personally and with investment clients.  They have pretty good Morningstar ratings, moderately low expense ratios, fairly nice performance, and moderately low purchase minimums.  In the past you often had to choose between SRI and better performance, or SRI and lower expenses.  Parnassus manages to give you the best of both worlds.


Hmmm. Looking at their fund their fees aren't that great: .9% to 1.2% per year, which are above average.

Investments include Capital One, Wells Fargo, several health insurers, Corning, National Oilwell, MasterCard. I'm fine with all of those but some SRI investors might not.

You are right that there are many SRI funds but people should make sure they look at the holdings before they buy and understand what their thesis is.
 
2013-10-04 12:48:16 PM  
i.qkme.me
 
2013-10-04 01:14:04 PM  
In early September, Handels, which represents 150,000 employees in the Swedish retail sector, addressed an open letter to the AP Funds' Ethics Council asking that it look into the investments in the American retail giant, saying that owning shares was "so stupid it is embarrassing" as well as "unethical".

Yes, because when I think "ethical", American unions are what immediately come to my mind.
 
2013-10-04 01:14:27 PM  
Silly investment people. Divest the stocks, THEN tell everyone you did so.
 
2013-10-04 01:23:29 PM  
Yeah SRI usually means no tobaccy companies - other unethical companies are fine. A better route would be to publicize obviously illegal union-busting and hope Americans in turn support a stronger NLRB. I am not holding my breath.
 
kab
2013-10-04 03:45:49 PM  
Wal Mart Shill Brigade, report for duty in this thread.   I repeat... report for duty.
 
2013-10-04 05:00:13 PM  
Telling employees that they would rather shut down the store than deal with a union isn't union busting... Call me when they send gangs of thugs out to break kneecaps.
 
2013-10-04 05:03:03 PM  

kab: Wal Mart Shill Brigade, report for duty in this thread.   I repeat... report for duty.


Well you know, if they sold the stock at a price higher than what they bought it for, is that considered unethical?
 
2013-10-04 05:19:28 PM  

Debeo Summa Credo: suburbanguy: groppet: Are there any of those funds around that would invest your money in a moral and environmental way anymore? I remember they were a big thing about 8 years ago.

There are a number of SRI (Socially Responsible Investing) mutual fund companies.  A lot of them have a religious tilt, which excludes a number of companies I have no beef with.  My favorite is Parnassus Investments.  I use several of their funds - personally and with investment clients.  They have pretty good Morningstar ratings, moderately low expense ratios, fairly nice performance, and moderately low purchase minimums.  In the past you often had to choose between SRI and better performance, or SRI and lower expenses.  Parnassus manages to give you the best of both worlds.

Hmmm. Looking at their fund their fees aren't that great: .9% to 1.2% per year, which are above average.

Investments include Capital One, Wells Fargo, several health insurers, Corning, National Oilwell, MasterCard. I'm fine with all of those but some SRI investors might not.

You are right that there are many SRI funds but people should make sure they look at the holdings before they buy and understand what their thesis is.


Actually, those expense ratios are average or just below, depending on the category.  (vs. all mutual funds.  You can check fee levels vs. other funds on Morningstar)  SRI funds as a rule are typically higher than non-SRI funds, as they have to do more due diligence on their investments.  That puts Parnassus on the lower end of SRI funds expense-wise.  They're also no load funds, which some SRI aren't (Calvert).  I'm Protestant, so I don't really agree with the religious SRIs (Ave Maria-Catholic; Amana-Islamic).   And you're absolutely right - some people would not be comfortable owning those companies.  If you're that specific about what companies you're buying, you should probably be buying individual equities.  No mutual fund is going to give you exactly what you want.  As far understanding what an SRI fund is going to buy - that's a given for ANY mutual fund or ETF.  So this isn't a special case for SRIs.

Bottom line, groppet asked about SRIs and I gave him/her my opinion.  I have done a good bit of SRI research for myself and clients.  (I'm a financial advisor.  A financial advisor; not Fark's financial advisor.)  I have used Calvert in the past but stick mostly to Parnassus now for SRI.  I didn't say it was the best; just that I use it.  Also, do you have a better suggestion for SRI?  Other SRI mutual funds?  ETFs? (They're still virtually non-existent.)  Anything else besides picking individual equities?  (Which defeats the purpose of investing in funds for diversification.)
 
2013-10-04 05:24:31 PM  
but don't worry about their racist policies there Sweden....you are perfectly okay with that.
 
2013-10-04 05:29:11 PM  

suburbanguy: Debeo Summa Credo: suburbanguy: groppet: Are there any of those funds around that would invest your money in a moral and environmental way anymore? I remember they were a big thing about 8 years ago.

There are a number of SRI (Socially Responsible Investing) mutual fund companies.  A lot of them have a religious tilt, which excludes a number of companies I have no beef with.  My favorite is Parnassus Investments.  I use several of their funds - personally and with investment clients.  They have pretty good Morningstar ratings, moderately low expense ratios, fairly nice performance, and moderately low purchase minimums.  In the past you often had to choose between SRI and better performance, or SRI and lower expenses.  Parnassus manages to give you the best of both worlds.

Hmmm. Looking at their fund their fees aren't that great: .9% to 1.2% per year, which are above average.

Investments include Capital One, Wells Fargo, several health insurers, Corning, National Oilwell, MasterCard. I'm fine with all of those but some SRI investors might not.

You are right that there are many SRI funds but people should make sure they look at the holdings before they buy and understand what their thesis is.

Actually, those expense ratios are average or just below, depending on the category.  (vs. all mutual funds.  You can check fee levels vs. other funds on Morningstar)  SRI funds as a rule are typically higher than non-SRI funds, as they have to do more due diligence on their investments.  That puts Parnassus on the lower end of SRI funds expense-wise.  They're also no load funds, which some SRI aren't (Calvert).  I'm Protestant, so I don't really agree with the religious SRIs (Ave Maria-Catholic; Amana-Islamic).   And you're absolutely right - some people would not be comfortable owning those companies.  If you're that specific about what companies you're buying, you should probably be buying individual equities.  No mutual fund is going to give you exactly what you want.  As far understanding what an SRI fund is going to buy - that's a given for ANY mutual fund or ETF.  So this isn't a special case for SRIs.

Bottom line, groppet asked about SRIs and I gave him/her my opinion.  I have done a good bit of SRI research for myself and clients.  (I'm a financial advisor.  A financial advisor; not Fark's financial advisor.)  I have used Calvert in the past but stick mostly to Parnassus now for SRI.  I didn't say it was the best; just that I use it.  Also, do you have a better suggestion for SRI?  Other SRI mutual funds?  ETFs? (They're still virtually non-existent.)  Anything else besides picking individual equities?  (Which defeats the purpose of investing in funds for diversification.)


Nope, just saying. As SRI's go, those might be the best. But there are apparently levels of SRI. These guys seem to say they invest in companies with good corp governance etc, whereas others are opposed to anything dealing with fossil fuels/insurance/etc. I imagine you advise your clients to look at the investment thesis of any SRI fund.

I compared the fee structure to an average of .77% I googled. I did not find nor look for SRI comparatives.

As an aside, what do you as an adviser think of ETFs? I've been dollar cost averaging in some money in broad market ETFs (ITOT) but I wonder if I'd just do better in an index fund.
 
2013-10-04 08:07:42 PM  
They know America is headed down.
 
2013-10-04 08:33:45 PM  
Cool I'm sure they'll lose plenty of money for their clients. Unless, you know, the fund managers actually want to donate the millions they make back to the shareholders? No, I didn't think so.
 
2013-10-04 10:41:41 PM  
Good to see all the teabagger assholes here get pissed when the little people actually do what they want with their own money.
 
2013-10-04 11:02:22 PM  
Swedish pension dump? That kind of thing is not my bag, baby, I swear!
 
2013-10-04 11:10:58 PM  

AliceBToklasLives: Yeah SRI usually means no tobaccy companies - other unethical companies are fine. A better route would be to publicize obviously illegal union-busting and hope Americans in turn support a stronger NLRB. I am not holding my breath.


Something that made me chuckle the other day was when the VW union in Germany (on the board of the company under German law) essentially came out and said the workers in Chattanooga needed to join the UAW or they wouldn't expand the plant. Even though that's blatantly illegal to threaten to do that, I'm not holding my breath for the NLRB to apply the law evenly or fairly.
 http://www.timesfreepress.com/news/2013/jun/22/local-plant-expansio n-h inges-on/
 
2013-10-05 12:04:30 AM  

Fizpez: <GOODcatgoeshere.jpg>


Yes, this need to happen more in the western-most, southern-most state and we'll see how it goes on from there!

www.hahastop.com
 
2013-10-05 07:48:09 AM  

skrame: In early September, Handels, which represents 150,000 employees in the Swedish retail sector, addressed an open letter to the AP Funds' Ethics Council asking that it look into the investments in the American retail giant, saying that owning shares was "so stupid it is embarrassing" as well as "unethical".

Yes, because when I think "ethical", American unions are what immediately come to my mind.


The union is stating is that there is an ethical conflict in a union investing in a union-hostile company. It is kind of like Pete Rose betting on the competition. I think we also saw the unions for one of the German car manufacturers threaten a strike over the crap wages and benefits that their employer was paying to employees in the the US recently. It appears the Euros have better ethics and certainly bigger balls than the US ones, who to my knowledge never seriously threatened anything like that when jobs started to move out of this country - they took instead the short-sighted view of "buy American" campaigns instead of worker solidarity.
 
2013-10-05 01:26:54 PM  

ski9600: Fizpez: <GOODcatgoeshere.jpg>

Yes, this need to happen more in the western-most, southern-most state and we'll see how it goes on from there!

[www.hahastop.com image 600x899]


ORLY?
www.travelagentcentral.com
 
Displayed 26 of 26 comments

View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter






In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report