Corporations give millions of dollars to all sorts of non-profits, but sometimes the targets of their donations are inimical to human life and need to be stopped.
With shareholder activism, Strobhar has had a hand in changing the corporate giving policies of more than 150 companies, essentially depriving Planned Parenthood [the nation's largest performer of abortions] of donations that would have totaled multimillions of dollars.
The tool of choice for Strobhar, who describes himself as "just a stockbroker from Dayton, Ohio," is the shareholder resolution. In order to introduce a shareholder resolution, a shareholder must own stock in the company valued at $2,000 or more for at least one year prior to the introduction of the resolution. Since 1991, Strobhar has introduced more than 60 such resolutions. ...
AT&T was giving $50,000 a year to Planned Parenthood when Strobhar began his activism at the company. The company had received thousands of letters from customers [protesting those contributions], but to no avail. It was only when Strobhar threatened the introduction of a shareholder resolution, suggesting that the company was in "breach of fiduciary responsibility," that AT&T paid attention. Within months, AT&T announced it would no longer contribute to Planned Parenthood. ...
General Mills and American Express also stopped giving to Planned Parenthood following shareholder resolutions introduced by Strobhar.
Bravo. Strobhar should serve as an example to opponents of both corporations and free speech: the solution to speech you don't like, or corporations you don't like, isn't to suppress or boycott, it's to get engaged with some speech of your own.
(HT: Sound Mind Investing Blog.)