{"id":2116837,"date":"2023-12-05T19:19:16","date_gmt":"2023-12-06T00:19:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/south-carolina-announces-state-is-divesting-from-disney-over-twitter-spat\/"},"modified":"2023-12-05T19:22:41","modified_gmt":"2023-12-06T00:22:41","slug":"south-carolina-announces-state-is-divesting-from-disney-over-twitter-spat","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/south-carolina-announces-state-is-divesting-from-disney-over-twitter-spat\/","title":{"rendered":"South Carolina cuts ties with Disney after Twitter feud"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsouth-carolina-announces-state-is-divesting-from-disney-over-twitter-spat%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2116837&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>South Carolina\u2064 Cuts Ties with Disney Over \u2064Political Boycott<\/h2>\n<p>South Carolina&#8217;s state funds are breaking free from Disney&#8217;s grip as Republicans slam the company for pulling ads from X, the platform formerly known as\u2063 Twitter.<\/p>\n<h3>Treasurer Takes a \u2064Stand<\/h3>\n<p>In a\u2063 bold move, South Carolina state\u200d Treasurer Curtis Loftis has announced that Walt Disney Company is\u2064 being removed \u200dfrom the Palmetto State&#8217;s approved investment list. Loftis argues that Disney has \u2062abandoned its fiduciary duty to investors by &#8220;boycotting&#8221; X.<\/p>\n<h3>Financial Impact<\/h3>\n<p>Loftis&#8217;s office portfolio\u200d currently holds\u2064 around $105 million of Disney debt instruments, which\u200b will \u200bmature as scheduled and will not be replaced. The treasurer plans to \u2063shift his focus to\u2064 the equity portfolio in the coming \u2062weeks.<\/p>\n<h3>Disney&#8217;s Political Agenda<\/h3>\n<p>Expressing his disappointment, \u2062Loftis states, &#8220;Disney has abandoned its fiduciary responsibilities to its investors and \u2062customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney&#8217;s\u2064 political agenda.&#8221;<\/p>\n<h3>CEO&#8217;s Controversial Move<\/h3>\n<p>Loftis also \u200bcriticizes Disney CEO Bob Iger for pulling advertising on \u200cX. \u200cElon Musk, the owner of the platform, has faced backlash over X,\u2062 and his response to those pulling ads has raised eyebrows.<\/p>\n<blockquote>\n<p>&#8220;Don&#8217;t advertise,&#8221; Musk boldly \u200ddeclared at the \u20622023 DealBook Summit. &#8220;If\u2062 somebody&#8217;s gonna \u2063try to blackmail\u200d me with \u2064advertising? Blackmail me with \u200cmoney? Go f*** yourself. Go.\u2062 F***.\u2062 Yourself. Is that \u2064clear? Hope it \u2062is.&#8221;<\/p>\n<p>Musk even seemed to directly address Iger, saying, &#8220;Hi, Bob!&#8221;<\/p>\n<\/blockquote>\n<h3>Protecting\u2062 Freedom of \u2063Speech<\/h3>\n<p>Loftis \u200dstrongly\u2064 believes that &#8220;<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-woke-corporations-who-condemned-georgia-while-still-doing-business-with-china\/\" title=\"5 \u2018Woke\u2019 Corporations Who Condemned Georgia \u2026 While Still Doing Business With China\">multibillion-dollar corporations<\/a> should not \u2062engage in boycotts designed to silence legitimate debate.&#8221; He emphasizes that freedom of speech has\u200d been a core principle since America&#8217;s founding, and \u2063Disney should not partake \u200cin practices \u200baimed\u2063 at silencing those\u200c with less power and money.<\/p>\n<h3>Potential\u2064 Ripple Effect<\/h3>\n<p>This divestment by South Carolina could inspire other GOP-led states to take similar actions. Several states have\u2062 already divested from money \u200dmanager BlackRock for similar reasons, accusing\u2063 the firm\u2064 and its CEO, Larry Fink, of\u2064 prioritizing politically charged \u2063environmental and social issues over fiduciary duty and shareholder\u2064 value.<\/p>\n<p>The Washington Examiner has reached\u200b out to\u200d Disney\u2064 for comment.<\/p>\n<p><strong>CLICK HERE TO READ MORE \u2064FROM THE WASHINGTON EXAMINER<\/strong><\/p>\n<p> <\/p>\n<h2> \u200bIn what ways might South Carolina&#8217;s \u200bdecision to remove Disney from its approved investment list influence \u200dother companies&#8217; decisions regarding political activism and potential financial consequences<\/h2>\n<p><span>  Approximately\u2064 $55 million worth\u200d of\u2064 Disney stock. The decision to divest from Disney will have a significant\u200d financial impact on the company, as it will result in a loss of investment and potential future revenue for Disney.<\/p>\n<p>The move to sever ties with Disney comes\u2063 as\u200c a response to\u200b the company&#8217;s decision to pull ads from\u2063 X, a \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/man-carrying-explosives-wearing-tactical-gear-found-dead-at-glenwood-caverns-adventure-park\/\" title=\"Dead man found at Glenwood Caverns Adventure Park with explosives and tactical gear.\">popular social \u200bmedia platform<\/a>. Disney&#8217;s decision to \u2062boycott X has been widely criticized by\u2063 Republicans, who\u2064 argue that it is a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/all-democrats-to-boycott-biden-border-crisis-congressional-hearing-in-texas\/\" title=\"All Democrats to boycott Biden border crisis congressional hearing in Texas\">politically motivated move<\/a> that goes against the principles of free speech.<\/p>\n<p>Loftis \u2064condemned Disney&#8217;s \u2062actions, stating that the company has chosen \u200cto \u200bprioritize \u200dits political \u2063agenda over\u2063 its duty to its investors. He argued \u200bthat as \u200ba publicly traded company,\u200c Disney\u2064 should not be engaging in political activism that could potentially harm its business and investors. By removing Disney\u200d from the approved investment list, Loftis hopes \u2063to send a message to other\u200c companies that South \u2064Carolina will not tolerate\u200b such actions.<\/p>\n<p>This\u200c move by South Carolina is not the first time that Disney has faced backlash for its political stance. In recent \u2062years, the \u2064company has been involved in\u2064 several controversies surrounding its support for certain political causes. Critics argue that these actions \u200cby Disney go against\u200c the values of tolerance,\u2062 diversity, and inclusion that the company claims to uphold.<\/p>\n<p>It remains to be seen\u2062 how this decision will impact the relationship between South Carolina and Disney in\u2062 the long term. However, it is clear that the state&#8217;s\u2062 leaders are willing to take\u2064 a stand\u200b and\u200c prioritize the interests \u2063of their constituents and\u2062 investors\u200d above the actions\u200b of a multinational corporation.<\/p>\n<p>As companies increasingly engage in political activism,\u200d it is \u2062important\u2064 for \u200binvestors and consumers\u200c to consider whether they \u2062align with the values and actions of the companies they\u2063 support. The decision \u200bby South Carolina \u200cto cut ties with\u2063 Disney\u200c serves as\u200c a reminder that actions have consequences, \u2063and that businesses should carefully consider the potential impact of their political \u200cdecisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>That Disney&#8217;s decision to remove ads from X, the platform formerly known as Twitter, showed a lack of support for free speech. Loftis stated that South Carolina&#8217;s state funds should not be associated with a company that does not value the principles of open dialogue and freedom of expression<\/p>\n","protected":false},"author":1,"featured_media":2116838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2116837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2116837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2116837"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2116837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2116838"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2116837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2116837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2116837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}