Florida Republican Gov. Ron DeSantis has instructed the State Board of Administration (SBA) to conduct a full-blown probe into the assets of Anheuser-Busch – the parent company of Bud Light – in response to the partnership scandal with Dylan Mulvaney – a transgender advocate who is a male biologically claiming to be female. This is obviously nonsense but we’ll leave that for another day.
According to the Daily Wire report, DeSantis wrote a letter to Lamar Taylor the interim executive director at the SBA to bring to light the 30 percent drop in sales that the company experienced during the month of June. What does the SBA do? Let me explain briefly. The organization has a role in asset management, and it is responsible for investing in both state and municipal government assets.
In a letter, the Republican presidential candidate from Florida and current governor of the state stated that “as sales of Anheuser Busch InBev products in the U.S. continue precipitously to decline, it is now emerging reports that major American retailers like Costco are pulling Bud Light off the shelves.” The letter stated that the Board’s mismanagement, as well as their failure to remedy the problem and repair their relationship with millions of dissatisfied American consumers, has led to the impasse. This will continue to financially hurt the SBA and the other shareholders.
The Florida Republican said that it was important that the SBA stay true to its legal obligations and “prudently managed the funds of Florida’s hardworking teachers, law enforcement officers, firefighters, first responders, in a way that focused on growing returns, rather than subsidizing an ideology through woke virtue-signaling.”
The governor continued, “I request that you initiate a review immediately to examine how Anheuser-Busch InBev’s conduct has impacted or continues to impact SBA’s AB InBevholdings.” “It seems to me that Anheuser-Busch InBev has breached its legal duties to its shareholders and that shareholder action could be appropriate and necessary.” All options are available to protect SBA, the retirees in Florida, and AB InBev from the losses resulting from AB InBev’s disregard for those duties.
DeSantis appeared on Jesse Watters Fox News show Thursday to announce the letter, and the SBA request that it contained. The governor said that Florida teachers and pensioners had suffered a major blow due to the recent drop in the value of Anheuser-Busch.
He said that if you don’t pay attention to the details, you are not fulfilling your fiduciary responsibility of doing the best for your shareholders. “We’ll be starting an investigation into Bud Light and InBev.” It could lead to a derivative suit filed by the Florida pension fund’s shareholders. “At the end of it all, you’ve got to pay a price for putting your business on hold in order to pursue your social agenda and at the expense of working people.”
— Ron DeSantis (@GovRonDeSantis) July 21, 2023
DeSantis made a wise decision. This shows that DeSantis is a leader who cares for the hard-working Americans of his state. He will bring this kind of leadership to the White House if he wins the primary election and the general elections next year.
This also shows that big companies’ decisions do have a significant impact on people’s lives. We should care more about their choices.