National Center for Public Policy Research calls for U.S. Securities and Exchange Commission investigation…
(John Wynne, Liberty Headlines) An annual meeting of apparel manufacturer VF Corporation’s investors resulted in the director of the National Center for Public Policy Research’s Free Enterprise Project, Justin Danhof, being physically barred from entry despite showing proper credentials, according to a press releasefrom that organization.
The Assistant General Counsel and general counsel for the company refused to allow Danhof entry to the Greensboro, NC meeting.
When Danhof attempted to enter anyway, VF Corporation’s security guards were called in and a staffer contacted the police.
Rather than escalate the situation, Danhof decided to leave.
“This is an outrage of the highest order,” Danhof said. “I have been to more than 100 shareholder meetings, and I have never seen a company treat an eligible investor with such disdain and hostility.”
He called on the U.S. Securities and Exchange Commission (SEC) to investigate the incident and take immediate action against VF Corporation.
Danhof said he was the only investor to receive such treatment.
And he thinks he knows why – Danhof asks tough questions, and intended to ask tough questions during the meeting about why VF Corporation appears to support federal land grabs that are likely unconstitutional.
The question would have been in response to comments from the President of North Face, Arne Arens, strongly criticizing the Trump administration for rescinding previous executive orders seizing millions of acres of land, including Bears Ears in Utah, to designate as national monuments.
North Face is owned by VF Corporation, which also owns brands like Lee, Nautica, Vans, and Wrangler.
According to Danhof, the rescinding of the “Bears Ears” executive order and others like it was the right thing to do because the orders in question were unconstitutional.
The Clinton and Obama administrations justified these orders under the 1906 Antiquities Act, but Danhof says this was not an appropriate use of that legislation.
“[U]nder the Wilderness Act of 1963, it’s up to Congress to approve such designations,” read the statementDanhof had prepared to use in the meeting. “If North Face wants to be a brand for only far-left environmentalists, that’s its prerogative. However, they shouldn’t do so under the banner of VF Corp. and risk the profitability of the company and its other brands.”
Danhof’s question: “Do you think it’s appropriate for one of your brands to engage in political and legal causes that have nothing to do with the company at the expense of VF Corp’s reputation and potential profitability?”
Danhof made news last month when his commentsat a Disney shareholder meeting resulted in Disney’s CEO, Bob Iger, having to answer whether he agreed with some of the inflammatory comments made by Jemele Hill and Joy Behar, who are employed by Disney-owned companies.
Clearly, VF Corporation was not in the mood to be subjected to similar questions.
“It’s easy to see why the company may want to avoid scrutiny,” said Danhof. “Investors and consumers are usually willing to look the other way on some corporate malfeasance, but most Americans consider the Constitution sacrosanct.”
The entire press release can be viewed here.