Apr 5, 2012
by Peter Overby
Pushing For Transparency
Until recently, ALEC was best known for its volumes of pro-business legislation: bills to weaken labor unions, as in Wisconsin, to privatize government operations and to reduce regulation.
But this new anti-ALEC campaign comes at a time when some investors have already been pushing for more transparency on corporate political activities.
Tim Smith is a vice president with Walden Asset Management, which does what it calls socially responsible investing. He says corporate boards and top management are paying closer attention now.
“They’re scrutinizing their trade association memberships, their relationships with controversial institutes,” said Smith. “And certainly I think that companies are scrutinizing their ALEC relationship more carefully, too.”
But certainly not every corporation: On Wednesday, another well-known company, Kraft Foods, said it was keeping its membership in ALEC.
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