Free Enterprise Action Fund Presents a Political Contributions Shareholder Proposal at Disney Annual Meeting
Posted on: Tuesday, 10 March 2009, 10:54 CDT
Disney CEO Outs Politics Ahead of Profits, Mutual Fund Says
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"Not only has Disney failed to sell the DVD, rejected inquires from distributor Lionsgate and ignored repeated requests from Action Fund Management to negotiate the purchase of the film's distribution rights, Iger and the board of directors have stonewalled every opportunity to earn money from this project, the FEAOX says. Given that Disney share price is down about 50 percent during the last six months and the company is laying-off employees, it's irresponsible for Iger to dismiss legitimate offers to profit from the film," said Borelli.
"Despite the downturn in Disney share price, Iger is being richly rewarded by the board for his poor leadership - his fiscal 2008 compensation package valued at
The FEAOX is concerned that the political views of Disney CEO
Leading Democratic politicians, Clinton supporters and other left-wing political activists launched a successful intimidation campaign against the broadcast of the miniseries -- which was based on the 9/11 Commission Report -- because they felt the program made the Clinton Administration look weak on terror. Apparently, to appease these critics, Disney edited the program before it aired in 2006 and has since refused to sell its DVD version -- even though Disney lost
Disney can't claim the controversial nature of "The Path to 9/11" as a reason to not profit from the film. Disney profited from
"Given that Disney found a way to make money from 'Fahrenheit 9/11' but not from 'The Path to 9/11' indicates a political bias on behalf of Disney management," said Borelli.
The political contribution shareholder proposal asks the company to report to shareholders on the policies and procedures for political contributions made with corporate funds. Transparency will allow shareholders an opportunity to determine if company assets are being used to compliment Iger's political views which can harm the long-term interests of Disney and its shareholders.
By investing in the FEAOX (http://www.FEAOX.com), individuals can participate in the global warming debate while having an opportunity to earn a financial return through ownership of a large-cap mutual fund. With a minimum investment of
Mutual Funds involve risk including the possible loss of principal.
An investor should consider the Free Enterprise Action Fund's investment objective, risks, charges, and expenses carefully before investing. This and other information about the Funds is contained in the fund's prospectus, which can be obtained by calling 1-800-766-3960. Please read the prospectus carefully before investing. Distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.
SOURCE Free Enterprise Action Fund
Source: PR Newswire
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