"What we're trying to create is a grassroots, investor-based movement to pressure corporations to resist the activists," Milloy said, adding that the Free Enterprise Action Fund is "the first and only" of its kind and "definitely the first to be doing this as shareholders."
Milloy also said the Free Enterprise Action Fund will encourage corporations not to be intimidated by the left and to hire people with the same philosophy. "If you're going to hire these people that can't stand the heat, they shouldn't be in the kitchen. What I can stop is corporate management trying to appease these [activist groups], thinking that it will make the problem go away," he added.
The Free Enterprise Action Fund refuses to disclose which companies they have invested in, but says that some of them are tobacco companies. I imagine that weapons manufacturers would be another profitable sector in today's global environment.
Meanwhile, activist pressure seems to have worked on Nike; the company, once synonymous with labour exploitation, has now become the first major company to disclose its full list of suppliers and contract factories, theoretically allowing them to be held to account more effectively over employment practices. While it's still too early to praise Nike as a model citizen (one would have to see results for that), now one no longer has to feel bad about buying a pair of Converse All-Stars. Unless, of course, one is an Objectivist or similar.
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