This American Airlines case has flown under the radar (pun intended) but it's really an important part of the vibe shift.
As companies are abandoning woke DEI practices, as investment groups are abandoning ESG, now the courts have ruled that ESG (Environmental, Social, and Governance) "socially conscious investing" from American Airlines is a violation of trust.
This means that when you put money in your 401K, companies can't make investments based on woke goals and instead have to actually care about making you a return.
American Airlines Inc. violated federal law by filling its 401(k) plan with funds from investment companies that pursue environmental, social, and corporate governance goals, a Texas federal judge ruled Friday in the biggest victory yet for opponents of the strategy.
The airline breached its fiduciary duty of loyalty — but not its fiduciary duty of prudence — in allowing its $26 billion retirement plan to be influenced by corporate goals unrelated to workers' best financial interests, Judge Reed O'Connor of the US District Court for the Northern District of Texas said after a four-day, non-jury trial.
No wonder VanGuard, BlackRock, and others are backing away from woke globalist ESG.
Allow Oklahoma State Senator and Pastor Dusty Deevers to explain how this corporate retirement investing is actually REALLY important to you and your everyday life.
We've gotta hope and pray that this ruling stands and that it sets a precedent that prevents the soft totalitarianism of woke corporations beholden to globalist agendas.
This is a tremendous step in the right direction. Republicans and conservatives need to keep the pressure on.
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