{"id":811062,"date":"2021-09-24T18:59:00","date_gmt":"2021-09-24T22:59:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=811062"},"modified":"2021-09-24T18:59:03","modified_gmt":"2021-09-24T22:59:03","slug":"rubio-targets-tyranny-of-nationless-woke-corporations-in-new-bill","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rubio-targets-tyranny-of-nationless-woke-corporations-in-new-bill\/","title":{"rendered":"Rubio Targets \u2018Tyranny\u2019 Of \u2018Nationless\u2019 Woke Corporations In New Bill"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/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%2Frubio-targets-tyranny-of-nationless-woke-corporations-in-new-bill%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=811062&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/Sen.-Rubio.jpg?w=1200&amp;h=800&amp;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Florida Republican Senator Marco Rubio introduced a new bill on Thursday seeking to crack down on woke companies. The intent of Rubio\u2019s bill is to give company shareholders more leeway in holding corporations accountable, especially over the promotion of woke ideology.<\/span><\/p>\n<p><span>\u201cSpecifically, the legislation would require corporate directors to prove their \u2018woke\u2019 corporate actions were in their shareholders\u2019 best interest in order to avoid liability for breach of fiduciary duty in shareholder litigation over corporate actions relating to certain social policies,\u201d a Rubio press release <\/span><a href=\"https:\/\/www.rubio.senate.gov\/public\/index.cfm\/2021\/9\/new-rubio-bill-helps-shareholders-fight-back-against-woke-corporations\"><span>reads<\/span><\/a><span>.<\/span><\/p>\n<p><span>The release continues, \u201c<\/span><span>It would also incentivize corporate management to stop abusing their positions to advance left-wing social policies by increasing their personal liability to shareholders for breaches of fiduciary duty resulting from those policies.\u201d<\/span><\/p>\n<p><span>Rubio said that America was increasingly coming under the tyranny of often \u201cnationaless corporations\u201d that want to implement \u201csocially destructive, far-left policies\u201d that harm the United States.<\/span><\/p>\n<p><span>\u201cPatriotic Americans who love their country and the opportunity it provides should be able to fight back against the growing tyranny of the woke elites running corporate America,\u201d<\/span>&nbsp;he said.<\/p>\n<p><span>He continued, \u201cThese are often nationless corporations that amass fortunes divorced from the fate of our great country while pushing socially destructive, far-left policies like boycotts and cancel crusades at home.\u201d<\/span><\/p>\n<p><span>The <\/span><a href=\"https:\/\/www.rubio.senate.gov\/public\/_cache\/files\/e89472b3-4fc2-4060-93b3-2f8ded53be12\/ABB99C7DC3B70C1225E3AA655F6548D6.09.23.21-final-rubio-mind-your-own-business-act.pdf\"><span>bill<\/span><\/a><span>, known as the Mind Your Own Business Act, allows for shareholders in large, public companies to have more power to make claims about the companies\u2019 breach of fiduciary duties if they believe the company to be pushing certain woke policies.<\/span><\/p>\n<p><span>Since companies have <\/span><a href=\"https:\/\/definitions.uslegal.com\/b\/breach-of-fiduciary-duty\"><span>fiduciary duties<\/span><\/a><span> to shareholders, they are required to have the best interests of those invested in the company in mind. The Mind Your Own Business Act essentially allows shareholders to claim that the promotion of woke ideology by the company is not in their interest as a shareholder, and take the corporation to court.<\/span><\/p>\n<p><span>The text of Rubio\u2019s bill explains how corporations generally do not have the goal of effecting social change, but instead increasing the company\u2019s value. It notes that shareholders could have an interest in ensuring that the company doesn\u2019t violate public interest norms and \u201cuse corporate resources to promote socialism, Marxism, critical race theory, or other un-American ideologies among their workforces or customers.\u201d<\/span><\/p>\n<p><span>The Florida senator <\/span><a href=\"https:\/\/www.foxbusiness.com\/politics\/america-woke-corporations-sen-marco-rubio\"><span>explained<\/span><\/a><span> his reasoning behind the bill further in an op-ed published by Fox News.<\/span><\/p>\n<p><span>He wrote that his bill will \u201c<\/span><span>empower shareholders to take action when a company follows the latest woke, Marxist fads: boycotting a state, denying services to politically disfavored groups, or remaking their workforces to advance concepts like critical race theory.\u201d<\/span><\/p>\n<p><span>The bill hinges on making the company itself have to defend its actions and explain how whatever action it is taking or ideology it is promoting helps the interests of the shareholders. Furthermore, shareholders can demand answers if a corporation choses to retaliate against a state for adopting laws management does not like.<\/span><\/p>\n<p><span>Rubio noted that Nike pulling the Betsy Ross flag shoe and Coke\u2019s protestations over Georgia\u2019s election bill would be examples of instances where shareholders could take the company to court.<\/span><\/p>\n<p><span>Christopher Rufo, a Senior Fellow at the Manhattan Institute who has produced a lot of investigative journalism on companies implementing woke training like <\/span><a href=\"https:\/\/christopherrufo.com\/intersectional-amex\/\"><span>American Express<\/span><\/a><span> or <\/span><a href=\"https:\/\/www.city-journal.org\/lockheed-martins-woke-industrial-complex?wallit_nosession=1\"><span>Lockheed Martin<\/span><\/a><span>,<\/span> was effusive about the bill.<\/p>\n<p><span>He <\/span><a href=\"https:\/\/twitter.com\/realchrisrufo\/status\/1441432555962519555\"><span>praised<\/span><\/a><span> the proposal, calling it a \u201cbrilliant approach that will unite the conservative movement.\u201d<\/span><\/p>\n<p><i>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/i>&nbsp;<a href=\"https:\/\/www.dailywire.com\/subscribe\"><i>member<\/i><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Florida Republican Senator Marco Rubio introduced a new bill on Thursday seeking to crack down on woke companies. The intent of Rubio\u2019s bill is to give company shareholders more leeway &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-811062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/811062","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=811062"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/811062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=811062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=811062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=811062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}