Corporate Social Activism: The Tail Wags the Dog

Corporations exist primarily to provide goods and services to willing buyers. Yet a growing number of employees believe that this mission must include the role of social change facilitator. They view profit and global salvation as woven together. To accommodate this call for reinvention, some employers are offering their work forces paid leave for activism. […]

Labor Department Seeks to Prevent Managers From Playing Politics With Pension Funds

By law, managers of employer-sponsored pension plans must act in the best interests of investors. Unfortunately, many such fiduciaries are applying an unusually broad definition. That’s why the U.S. Department of Labor has clarified the issue. On April 23, the DOL released a guidance statement intended to discourage benefit managers from applying the principle known […]

Corporations Paying for Employee Protest: Does the Tail Wag the Dog?

There’s nothing unusual about a corporation offering employees paid leave for vacations, illness or personal emergencies. That’s a fact of the modern workplace. But lately employers have begun to provide paid leave for something far less justifiable: social justice activism. Employees themselves, backed by social media mobs, increasingly are demanding that management take stands on […]

BlackRock CEO Larry Fink Calls Upon Business to Save the World

With about $6 trillion of assets under management, BlackRock Inc. carries a lot of weight in the business world. And Laurence Fink, CEO and chairman of the New York-based investment firm, wants everyone to know that. In a letter dated January 12, Fink urged dozens of CEOs of publicly-traded companies to expand their horizons beyond […]