DeSantis takes aim at Bud Light as state pensions crushed by company's decline: 'There's got to be p

[roamer_1]

I'm glad and he should. It's hitting FL pensions which isn't a good thing.  This is jeopardizing the FL retirement system; those who have saved for retirement and those who are now receiving their pension money.

Hopefully he'll stop it before the FL pension system goes broke.

Pensions as a whole nationwide aren't doing all that great; many are not funded as they should be. Last statistics indicate that Florida's pension system only has enough money to meet about 83 percent of its projected liabilities. The issue with Bud isn't helping.

I'm not sure, but I would think that this is affecting other state pensions as well.

That's all right - and I am sorry if it is effecting you and yourn.

It will be interesting to see if InBev starts getting hit in the law suits, which they will, because it's looking like AB might be picked clean.

[sneakypete]

I'm glad and he should. It's hitting FL pensions which isn't a good thing.  This is jeopardizing the FL retirement system; those who have saved for retirement and those who are now receiving their pension money.

Hopefully he'll stop it before the FL pension system goes broke.

Pensions as a whole nationwide aren't doing all that great; many are not funded as they should be. Last statistics indicate that Florida's pension system only has enough money to meet about 83 percent of its projected liabilities. The issue with Bud isn't helping.

I'm not sure, but I would think that this is affecting other state pensions as well.

@libertybele

Wouldn't the feral goobermint jump in to bail out Fl if this happened?

Asking because I don't know.

[LadyLiberty]

By the time this is over, stakeholder corporatism will be on the ropes.
And that's awesome.

 

I certainly hope so. No more throwing money at or making decisions based on ESG or DEI crap.

[libertybele]

@libertybele

Wouldn't the feral goobermint jump in to bail out Fl if this happened?

Asking because I don't know.

I don't truly know the answer but it is doubtful. There are other state pensions funds that are in worse trouble. 

There are only a handful of state pension funds that are fully funded. Kentucky is only 47% funded.

https://equable.org/pension-plan-funded-ratio-rankings-2022/

[libertybele]

Retirement?  What the heck is that?  (Asks the self employed till death me).

I retired early for health reasons.    We don't take vacations like most retired people or dine out all the time.  Retirement for us is not struggling with our health while working.  I am very thankful though.

[PeteS in CA]

The big-dog investors in large companies tend to be institutions, e.g. banks, insurance companies and pension funds.

[roamer_1]

I certainly hope so. No more throwing money at or making decisions based on ESG or DEI crap.

That's right! 

And that's what this is all really about. There's a rumble starting deep in the ground with this whole dang thing... Nobody started this Bud Light thing. No organized Right Wing thing going on here. Folks are just fed the hell up with it, and Bud Light was the last straw. They sponsored a twink tranny and blew half their own face off...

Men of all kinds just up and hollered nuff... And then the womenfolk did the same going after Target. It was organic - a groundswell.

But now it's coming down to the nitty gritty. So you make money or do you make beer? If you make money you can impose all that crap on your customers and get away with it.

Bbbbut - and it's a big hairy butt - You gotta make beer to make money. And you can't make folks buy it. No beer, no money. No money, no stock price. It all falls down.

And harvard trained CEOs and ESG minded sales executives are finding out a very, very valuable lesson. One they should have learned first:

The customer is always right.
Period.

[sneakypete]

I don't truly know the answer but it is doubtful. There are other state pensions funds that are in worse trouble. 

There are only a handful of state pension funds that are fully funded. Kentucky is only 47% funded.

https://equable.org/pension-plan-funded-ratio-rankings-2022/

@libertybele

Thanks,I had no idea.

Seems like the press MIGHT have wanted to cover that,doesn't it? It sure seems like a crisis to ME.

[sneakypete]

Retirement?  What the heck is that?  (Asks the self employed till death me).

@Jack Russell

A large number of self-employed people are retired on SS.

[roamer_1]

Retirement?  What the heck is that?  (Asks the self employed till death me).

I heard that. And I like it. I surely hope to die with my boots on. 

[sneakypete]

It's a state issue, not federal.

@Jack Russell

Thanks!

[LMAO]

The only person who doesn't understand how things work here is you.  Every shareholder, no matter how small their share, is owed certain duties by the management of the company in which they own shares.  Since the State of Florida, through its pension plans, owns shares of AB, they are entitled to have their rights as a shareholder vindicated.

That is such fundamental law that even you should know that.  So what's your excuse?

Of course, if it were Trump in charge of these funds, he'd simply have them declare bankruptcy, and stiff all the pensioners depending on them for their benefits.

Yup

And look at the adolescent type reply you got following your fact filled post

[sneakypete]

No @sneakypete , @Kamaji is right. Part of corporate law is the fact that the corporation has a fiduciary obligation to their stockholders - They HAVE TO TRY to optimize their stockholders' profits. That's their job, and their responsibility. And that is backed up by both stockholders' guidance meetings and civil law.

In fact they DO own the company, or a part thereof... That's what their investment in the stocks means.

And there are consequences for non-performance.

@roamer_1

Owning a PART (a share) of a company is NOT the same thing as OWNING A COMPANY.

[sneakypete]

@sneakypete

When the stockholders together own a significant percentage of the company (and they do in this case), they have a good bit of power and contract rights they can exercise in the interest of prtecting their investment.

Such an egregious destruction of value as this case will be a slam-dunk... DeSantis is right. And you are going to see it happen, starting with the stockholders' quarterly meeting at the end of this month. They have the power to depose the entire board and elect a new one, and I bet they will call for the CEO's head.

And the civil suits are just beginning.

Watch and see.

@roamer_1

The part in bold is VERY true,but we have yahoos here who seem to be drunk on the luv of DeSanctimonious who seem to be trying to claim that owing one share is the same as owning the company,and it just ain't so.

[sneakypete]

Uh, the story is about Florida suing the corporation that owns Bud Light, not Disney.

@Kamaji

And......?

[sneakypete]

It's a state issue, not federal.

@Jack Russell

Thanks,that does make a difference.

[libertybele]

That's right! 

And that's what this is all really about. There's a rumble starting deep in the ground with this whole dang thing... Nobody started this Bud Light thing. No organized Right Wing thing going on here. Folks are just fed the hell up with it, and Bud Light was the last straw. They sponsored a twink tranny and blew half their own face off...

Men of all kinds just up and hollered nuff... And then the womenfolk did the same going after Target. It was organic - a groundswell.

But now it's coming down to the nitty gritty. So you make money or do you make beer? If you make money you can impose all that crap on your customers and get away with it.

Bbbbut - and it's a big hairy butt - You gotta make beer to make money. And you can't make folks buy it. No beer, no money. No money, no stock price. It all falls down.

And harvard trained CEOs and ESG minded sales executives are finding out a very, very valuable lesson. One they should have learned first:

The customer is always right.
Period.

Amen. 

[Kamaji]

Yup

And look at the adolescent type reply you got following your fact filled post

TBPH, I didn't expect anything different.