I have heard of socially responsible investing, but is there anyone that does investing to try to force companies to become more progressive on a large scale? Not investing in already progressive companies, but force others to move that way
So, I have heard of investing groups that invest only in socially responsible companies. Maybe they are green, or don't involve tobacco, etc. But does anyone know of an investing group that specifically goes out and buys stock in a company with the sole purpose of then sending someone to the shareholders meeting, proposing a vote, and drumming up attention in the media? Even if the vote fails?
An example I can think of would be buying up a bunch of Walmart stock, propose something (environment related, for example), drum up the fact that its coming up for a vote at the shareholder meeting, and then if voted down draw attention to it! I could see "Walmart votes down proposal to require more environmental protection at construction sites" and then bring up how much money they made and that its not like they cant afford it.
I know alot of people here already know companies do this crap and cry poor, but it could be an interesting way to bring it to light for other people who don't know.
I wonder if DKos could set up a fund you can donate into whose only purpose, say, is to buy stocks for say the 3 most anti-union companies. Or 3 biggest environmental offenders. It could be run by someone outside the site, or someone who only does it, but no one person has ownership? Spend the dividends on more stock, or donate part of them to help the cause it is bringing attention to. Use part of it to buy media advertising.
I could very much see socially change investing being a huge way to use a system that benefits mostly the people who only think about their bottom line. With the market down, we could probably even start it on the cheap.