Gov. DeSantis threatens to sue Bud Light's parent company

https://www.fox4now.com/news/state/gov-desantis-threatens-to-sue-bud-light
Gov. DeSantis threatens to sue Bud Light's parent company

Ron DeSantis wants Florida's pension fund manager to “consider “ legal action against Anheuser-Busch, the parent company of Bud Light.

As per a letter posted to Facebook this Friday morning, DeSantis claimed that the company violated “legal responsibilities “ to its shareholders when it partnered up with Dolan Mulvaney, a transgender social media influencer. The DeSantis said the company aligned its marketing with "radical social ideologies."

This DeSantis character was a hopeful alternative to that Trump guy. What is sickening is DeSantis makes believe that he is a small government “ “conservative” but behaves like a fascist by attacking and interfering with private businesses. He as is well know attacks Disney and now the ANheuser-Busch parent company.

Budweiser did a very stupid , asinine , idiotic thing by partnering with an entity from the sewer system of radicalism. Yet that was a decision made a private company that is being punished by consumers and ay never recover from it’s unbelievable stupidity. Our system of government has never tried to interfere with the business decisions of private companies (unless their was national security at stake which there is not). We leave that type of governmental activity to Putin’s Russia, Red China and years ago to Hitler and Mousilini. If our system of laws allowed government to punish business stupidity then executives from CocaCola for NEW COKE, Ford for EDSEL, and American Motors for the GREMLIN should still be in prison or dead from natural causes by now.

A real honest conservative would let us the consumers punish businesses for stupidity. DeSantis is a liar and a hypocrite and he would be dangerous as a POTUS so we do not need any more of that.

 

Its a stunt to expose the WOKE for the JOKE that it is. Can you really even sue a company for stock prices dropping? I'm not a legal expert but I haven't heard of this happening. this is why I think its a stunt.

 

As I said he wants to sue a company for doing a stupid thing by using someone who thinks he is a sex that he was not born as. That caused the stock price to drop once it was exposed. That was a stupid act by Bud and no you cannot successfully sue a company for stupidity.

 

I doubt there would ever be a lawsuit as there is no grounds for it. He is very interested in talking tough to get headlines though.

 

Good question. But when the managers of a company do something strictly for political reasons, knowing it may tank stock value, they violate their fiduciary responsibility and violate the law. If its simply a mistake, they can get away with it. But Budweiser saw their actions were tanking the stock... and kept it up... a CLEAR VIOLATION OF LAW.

 

Bad corporate decisions are not illegal.
There are thousands of incidents of corporate stock price drops due to poor decision making.
Why don’t you show us the myriad of lawsuits that have been won based upon your premise?

 

So basically it's much Ado about nothing that will never happen.

 

The point is that he is of course as someone here said he is trying to perform a stunt. I will add to that this stunt is similar to his attack on Disney. He is playing to his base for the primary fight with Trump.

You it is nothing but since he is at least trying to use or entice government officials and or government employees to enable his stunt attempt. This is like the sending of “migrants” to far away cities. Those stunts use tax dollars from us the people.
If we the people want stunts and clowns we can go to a circus. We do not not need stunt performers and clowns among our politicians.

 

Yes, it is trying to use outtrump the Trump in an attempt to play to his supporters by claiming or faking to do something he cannot. Remember when the Trump said ( in 2016) that his his act as POTUS will be to sign an “order” that will “cancel Obama Care. Trump’s supporters cheered that not doable act .

 

I do not see Bud acting for political reasons. I think that they mistakenly thought that they would gain customers among the fringe population of LGBTQTCSM and the supporters of that crowd. I stand by my contention that Bud acted out of stupidity and misguided motivations. That is not illegal.

I challenge you to name the law that you believe Bud violated.

PS - I am still pissed off that Budweiser sold itself to a foreign company. Bud ceased to be an American brand and there still are American brewers available and thousands of local breweries for us to support instead of foreign companies.

 

Right on!

 

Our government has never tried to interfere with the business decisions of private companies? Are you serious?...lol

 

Tell that to those dudes at ENRON...lol

 

So some Republicans want to sue a company because they don't like its decisions. Is that really the Pandora's can of worms they want to open? Sounds like the sort of thing that would have them screaming from the hilltops if Democrats tried it....which they undoubtedly will if this succeeds.

Another day in MAGAland.

 

Please read my post again. I did not say that our government did ( at least not successfully) interfere with business decisions I said DeSantis
proposed that it do that. The Florida government that is.

 

The dudes of ENRON actually violated the law.

“Many executives at Enron were indicted for a variety of charges and some were later sentenced to prison, including Lay and Skilling. Arthur Andersen was found guilty of illegally destroying documents relevant to the SEC investigation, which voided its license to audit public companies and effectively closed the firm.”.

 

It is so ridiculously stupid it cannot succeed unless the court jurisdiction is packed with politically corrupt or Clarence Thomas like judges.

 

Right...they made bad business decisions.

 

It would be an incredibly dangerous precendent - any decision that drops a company's share price leaves them open to a government lawsuit. Great news for ambitious and creative politicians wanting to be seen to be sticking it to a particular company and lawyers, of course.

I wonder if one state could sue another for driving down a company's share price by suing it or if an individual or company could sue a state for the same? The mind does boggle. It really is fascinating how much MAGA conservatives resemble that which they claim to hate.

 

A seemingly obvious point....but not to everyone it turns out.

 

I are fully read your post again and I will address your question directly. There likely have been attempts of government interference by both sides of the political spectrum. We’re they successful? Who knows if such attempts have not been exposed. What I said is that our judicial system does not support that in that it would be illegal for our government to do that.

We can get real philosophical about what is interference. A company may claim that being forced to build safety measures into it’s products is interference.Or that government preventing a company from building safety measures into it’s products is interference. Or affirmative action is interference. In a way it is. Or price controls are interference in that it prevents a company to decide on the price of it’s products. Or that anti monopoly laws are interference.

Both political and ideological sides most likely have their pet idea of what interference is.

In this story I was addressing using the legal system to punish an act of stupidity by a private company not a violation of established law.

 

Your comment “It really is fascinating how much MAGA conservatives resemble that which they claim to hate.” Exactly! DeSantis even proposing such a thing be it a stunt or not is why I called him a hypocrite.

Trump has alluded to or maybe outright said he will punish ( arrest reporters) or shut down news networks if he does not like what they report when he is elected for his second term.

 

Well, probably not just for stupid, but for negligence, yes. Happens all the time. Successfully.
So, open question; if not Trump or DeSantis, then who?
Talking about the republican candidate here, it seems the democrats have locked themselves into Biden unless he takes himself out of the race.

 

There is a world of difference between making a business mistake and intentionally damaging a fund and violating the trust of shareholders for political reasons. Violating fiduciary responsibilities INTENTIONALLY is, indeed, a crime.

"
What Is a Breach of Fiduciary Duty?
A breach of fiduciary duty happens if a fiduciary behaves in a manner that contradicts their duty, and there are serious legal implications. It is also easier to prove a breach of fiduciary duty as there is no need to prove fraudulent or criminal intent.

A breach of fiduciary duty is serious and complex. Knowing specifics and examples is imperative for better understanding.

Definition of Fiduciary Duty
It is important to understand what is meant by "fiduciary duty" and the legalities behind it.

A fiduciary duty is a duty or responsibility to act in the best interest of someone else. The person who is duty bound to another person, in a fiduciary relationship, is called a fiduciary.

The fiduciary is responsible for the management and protection of either money or property for another person or business. A board member's fiduciary duty to the company's shareholders, or a trustee's duty to the beneficiaries of the trust, or an attorney's fiduciary duty to their client, are all examples of fiduciary duty in action.

In order for a fiduciary duty to be legally binding, the agreement must be created under the law, by statute or contract, or by factual circumstances of the relationship, such as being based on case law.

A fiduciary duty is in place when a relationship with a client calls for unique trust, or dependability, on the fiduciary to be discrete when acting on behalf of said client. The fiduciary is obliged to act and has the power to act on behalf of, and for the benefit of, the client.

When there is an agreement between one person and another, in a fiduciary relationship, it is a breach of fiduciary duty for the fiduciary to behave in any manner that would be construed as against the best interests of the client. This includes behavior that would benefit the fiduciary with regards to the subject being dealt with. The fiduciary is further obliged to act, for the client, with their fullest capability and care.

A fiduciary is expected to behave with the highest standard of integrity and transparency and may not, in any way, benefit personally at the client's expense."

"Winning a Breach of Fiduciary Duty Complaint
In order to win a breach of fiduciary duty complaint, an individual needs to ensure they have received damages due to the breach and be able to prove the breach.

To win a breach of fiduciary duty complaint the plaintiff must prove that the fiduciary (defendant) had duties such as acting good faith, being transparent with pertinent information, and being loyal to the plaintiff.

The plaintiff must prove that the defendant failed their duty by withholding pertinent information, by misappropriating funds, abusing their position of influence, failing in their responsibilities or misrepresenting the statement of fact.

The breach is only actionable if there is proof that the plaintiff suffered damages as a result of the breach.

Being diligent in keeping an ordered record of communication and of all relevant documentation will assist you in proving the breach of fiduciary complaint.

In regard to companies – keep a record (Board Resolutions) of important decisions made by the board of directors or shareholders on behalf of the company."

Breach of Fiduciary Duty: Everything You Need to Know (upcounsel.com)

 

Bud was more interested in its politics than its finances, The shareholders had faith in them. They breached that faith,
I agree... Bud is just one of many traditional American companies selling out their proud history.

When I was working on my MBA, I read a book called "Marketing Warfare". Its an interesting read. It cites some examples of the "mistakes" you mentioned... like Coca Cola spending millions to develop, package, market, etc. DIET COKE. The product was a hit. But most of the new customers for Diet Coke came from folks that had already been drinking regular coke. Their investment was pretty much a flop.

This action by Bud was purely political.