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NOM: ‘Dump Starbucks’ Partly Responsible For $1.4 Billion Market Value Drop

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Jonathan Baker, director of the Corporate Fairness Project for NOM, the National Organization For Marriage, is claiming their “Dump Starbucks” campaign is partly responsible for a $1.4 billion drop in Starbucks’ stock market value.

“On March 21, 2012, the date of the Starbucks annual meeting where I queried them on their corporate support for same-sex marriage, their stock closed at a price of $53.81. This past Friday their stock closed at $51.97,” Baker writes at the NOM blog, totally ignoring the fact that for any stock market value numbers to matter, a company’s stock price must be compared to the overall market.

Baker amusingly “forgets” this fact, and also the fact that NOM’s Dump Starbucks campaign, after almost four months, has attracted only 45,578 people even though they have been heavily promoting it literally around the world. NOM even had the campaign translated into Arabic, along with three other languages spoken in countries that are generally opposed to homosexuality and same-sex marriage, many of which also support Sharia law and the killing of homosexuals for merely being homosexual, as The New Civil Rights Movement reported in April.

On May 30, The New Civil Rights Movement actually compared Starbucks’ stock performance to the overall market, and found that “Starbucks’ stock has performed better since NOM, the National Organization For Marriage, rolled out their Dump Starbucks campaign designed to harm the coffee giant.”

NOM rolled out the Dump Starbucks campaign on March 21, at the Starbucks shareholders’ meeting, in response to the coffee giant retailer’s announced support in Washington state of a bill to legalize same-sex marriage. A current view via Google Finance as of this writing shows Starbucks stock +2.00% vs. the DOW -5.65% as of March 21 to today.

We should note, also, that Starbucks’ direct competitors are all down. Only Starbucks, per the Google chart, is up.

So, where is Starbucks today?

Baker, clearly not a retail or market analyst, ignorantly assumed no one would notice that the DOW in the past four days has dropped a significant 200+ points, and the NASDAQ has dropped almost 45 points.

So let’s really look at the numbers.

The DOW is down 3.29% since March 21. The NASDAQ, on which Starbucks is listed, has performed worse: down 4.05%. Starbucks (SBUX) is down less than half of both: 1.34%. So despite Dump Starbucks’ 45,578 people, Starbucks is performing much better than the market. Yes, Starbucks stock has dropped slightly, from $53.81 to last night’s closing of $52.39. A drop of $1.42 is hardly cause for NOM to celebrate.

Conceding that “our protest was only part of the equation,” Baker writes:

What the protest has done, and what you have helped us do as one of our supporters, is start to sway the conversation. There is no longer just one side of the marriage debate telling corporate leaders that “equality” requires that the corporation take the position that the nuclear family is no longer important. Or that “diversity” demands that companies tell those employees who believe that fathers and mothers are both vital to the upbringing of a child that they are ignorant bigots.

See the language Baker is using?

No one is saying “the nuclear family is no longer important.” Certainly not same-sex marriage supporters, who are merely looking to be included in the civil institution of marriage. Why would we attack the family when we’re working hard to create our own families?

Baker then closes with this:

Call or email your local Christian or Catholic radio station and tell their DJs and news staff about the DumpStarbucks.com effort.

Share with them what Starbucks has done and urge them to inform their audience about the DumpStarbucks.com pledge. (You might add a plug for the www.DumpGeneralMills.com pledge as well!)

Because apparently only Christians care about marriage…

Last month, The New Civil Rights Movement reported NOM was “attacking retailing giant Target, falsely claiming, ‘Marriage isn’t terribly pertinent to their business’.”

NOM, who has said that marriage is “the bedrock of civilization,” is going after Target, who sells millions of products for the home, children, and families, often at an attractive price. Target even does a booming wedding registry business and is listed as one of the top retailers who share in the $19 billion wedding registry market. Target is currently promoting a “Wear it with pride” tee shirt campaign, giving all proceeds to the Family Equality Council.

This latest salvo of NOM’s shows not only how desperate they are, but also, how bush-league, how amateur they are.

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RIGHT WING EXTREMISM

‘Thinly-Veiled Incitement to Violence and Overt Racism’: Trump’s Truth Social Post Sparks Outrage

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Donald Trump was permanently suspended from Twitter “due to the risk of further incitement of violence,” but on Friday night took his social media approach to his Truth Social website.

Trump accused Senate GOP Leader Mitch McConnell of having a “death wish” after a government shutdown was averted.

“Must immediately seek help and advise (sic) from his China loving wife, Coco Chow!” he said of Elaine Chao, who served in his cabinet for four years as Secretary of Transportation.

Trump’s post generated outrage online.

“Nothing to see here,” conservative lawyer George Conway tweeted. “Just a former president of the United States seeking to incite violence against the minority leader of the United States Senate and launching a racist verbal attack on the leader’s wife.”

Former federal prosecutor Shanlon Wu wrote, “Donald Trump using blatant racist tactics in his desperate attacks on McConnell by trying to ridicule Asian American former Secretary of Transportation Elaine Chao’s name calling her ‘Coco Chow’ — [McConnell] and [GOP] should call him out and reject his racist hate — will they do it?”

“Hardly shocking that Trump would threaten Mitch McConnell by capitalizing the words ‘death wish’ — dog whistle invitation to Trump’s extremist supporters — same Trump who believed his own VP Pence deserved to be lynched by the angry Jan. 6 mob Trump incited to violence,” Wu added.

Janai Nelson, the president of the NAACP Legal Defense & Educational Fund, wrote, “I double dare all major media outlets to call this what it is: thinly-veiled incitement to violence and overt racism.”

Podcaster Fred Wellman said, “Elaine Chao was Trump’s Secretary of Transportation for 4 years and he just called her the ridiculously racist nickname ‘Coco Chow.’ Yes…you are a racist if you still support this broken *sshole.”

Jonah Goldberg, the editor-in-chief of The Dispatch, wrote, “Look, I think the gross bigotry, stupidity, dishonesty, and demagoguery of this is obvious on so many levels and I’m embarrassed for the country. But, because no one else will, I feel I have to point out he also misspelled advice.”

 

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Republicans suggest defunding Veteran Affairs even though it helps 9 million vets

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Republican legislators are starting to suggest defunding the Department of Veteran Affairs (VA), the office founded in 1989 to assist with veteran needs. The VA assists with getting veterans mental and physical healthcare, educational opportunities, community support, and other everyday housing and living needs.

An Arizona legislator, captured on video participating in a mock congressional hearing, said he supported shutting down the department.

“That’s sort of what I’m thinking because … I hear no good stories. I had zero in my district,” the legislator said in a video posted by the far-right watchdog group Patriot Takes. “So I guess it’s a matter of us leading the fight to defund it.”

A second video, posted by the same account, showed Republican Florida Representative Matt Gaetz advocating for defunding the VA while speaking at an event held by FreedomWorks, a conservative and libertarian advocacy group.

“This is my question to the group. Is it savable? Why not abolish the VA, take all of the money that we are otherwise spending and go to an any willing provider system inside of our communities?” Gaetz says in the video. “And then, if people get bad care, they can vote with their feet and you don’t have a two-tier system of healthcare in this country with our veterans and then with everyone else.”

Generally speaking, Republican policies favor the privatization of all government functions, thinking that a “small government,” “free-market,” “for-profit” privatization provided by a corporation can solve any market ill.

In reality, if entire communities are deprived of VA access, U.S. military veterans will be left largely on their own to get their life needs met after militaries service. Those who lack money or transportation won’t be able to “vote with their feet” and find a local care provider to handle their specific issues… they’ll either have to spend massive amounts to get such essential care or just go without.

In late July, 41 Senate Republicans voted against a bill aimed at protecting veterans exposed to toxic materials during their military service. The legislation would have expanded care to 3.5 million veterans exposed to toxic burn pits. It would have also added 23 toxic and burn pit exposure-related illnesses to the VA database, Newsweek reported.

After massive blowback, Senate Republicans re-voted on the bill and helped it pass.

Patriot Takes posted the video hoping that it would encourage veterans and military members to vote in the upcoming mid-term elections.

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'PRIORITIES'

Red states are lining up to stop Biden’s student loan forgiveness plan

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Six red states — Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina — are suing the administration of Democratic President Joe Biden over Biden’s plan to cancel up to $20,000 in student loan debt for individuals making less than $125,000 a year.

The Biden administration based its plan on a 2003 law. According to the Justice Department, the law, initially meant to help military members, says that Biden can reduce or erase student loan debts during times of national emergency.

The red states’ lawsuit, filed Thursday in Missouri, said that Biden’s plan was “not remotely tailored to address the effects of the pandemic on federal student loan borrowers.” The lawsuit adds that, since Biden recently declared the COVID-19 pandemic as over, he can’t use it as a justification for his wide-scale debt relief plan, ABC News reported.

“It’s patently unfair to saddle hard-working Americans with the loan debt of those who chose to go to college,” Arkansas Attorney General Leslie Rutledge said of her state’s lawsuit. “The Department of Education is required, under the law, to collect the balance due on loans. And President Biden does not have the authority to override that.”

The states argued that Biden’s plan inflicted a “number of ongoing financial harms” to student loan providers and also “will ultimately disrupt revenue to state coffers.” They also argued that Biden’s plan violates the Administrative Procedure Act, a law regulating how federal agencies ensure that presidential policies are well-reasoned and explained, the aforementioned publication reported.

Despite these claims, the White House has said it will continue with its plan, confident it can survive a court challenge.

“Republican officials from these six states are standing with special interests, and fighting to stop relief for borrowers buried under mountains of debt,” White House spokesman Abdullah Hasan said Thursday. “The president and his administration are lawfully giving working and middle class families breathing room as they recover from the pandemic and prepare to resume loan payments in January.”

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