I presented my African child slave labor shareholder proposal at today’s Exelon Corp. shareholder meeting. Exelon (an electric utility) supports Black Lives Matter. But what about the brutalized child slave laborers in the Congo? My presentation, Exelon’s lame “defense” and the voting result are below.
The background on my proposal is here.
My presentation:
Good morning. My name is Steve Milloy.
Does Exelon’s management really believe that Black Lives Matter? Or is that just a politically correct slogan that is cynically exploited? We’ll come back to this.
Fellow shareholders… my proposal is about management’s eagerness to profit from the climate hoax… and to profit from the child and slave labor that the green energy scam depends on.
Management first tried to surf the climate hoax as a rationale for building new nuclear power plants.
But that misguided effort failed miserably.
So Plan B is to sell more electricity by promoting and participating in what management hopes will be government mandates for electric cars.
But consumers don’t want electric cars. They are expensive, inconvenient and offer no advantage over conventional cars.
That’s why the government has to bribe or mandate that people buy them.
Nevertheless, management is eager to profit from electric car mandates, carbon taxes and whatever other pointless and politically correct climate policies they imagine will rescue our earnings from their incompetence.
Let’s get to the details of my proposal.
Electric car batteries require cobalt.
60% of cobalt comes from the Congo, which ranks 151st out of 162 on the Cato Institute’s Human Freedom Index.
Cobalt production in the Congo relies on forced child labor. I have the pictures.
There as many as 40,000 children who are forced to work… forced to work… in the most brutal and dangerous conditions mining cobalt.
Needless to say, the local environmental destruction is also incredible.
Check out the link in the proxy statement which will show you the photos of the forced child labor and environmental horrors.
Once cobalt is mined, 90% of it is processed in Communist China, where more slave labor and environmental destruction occurs.
Management wants to hide these realities from you.It plans to close its eyes to these human rights and environmental atrocities.
Management wants to greenwash its complicity in these horrors by claiming it’s saving the planet from climate change.
Fellow shareholders, even if you have fallen for the climate hoax, you should listen to the words of Joe Biden’s climate envoy, John Kerry.
Last week, Kerry admitted that that even if the whole world goes to zero emissions, the climate problem won’t be solved.
If zero emissions won’t solve whatever climate problem is imagined to exist, what the hell are we doing?
So our out-of-ideas management isn’t combatting climate change.
What management wants to do is to profit off brutalized children literally slaving away in the human rights nightmare that is the Congo. It’s immoral.
So I have asked that management report to shareholders on the extent to which our business plan depends on these brutalized children.
But our shameful management doesn’t want us to know.
Management doesn’t want to report to shareholders on how many poor African children were killed, maimed and brutalized per share.
It’s ironic since management pretends that it supports Black Lives Matter.
But do Black Lives Matter when it comes to profiteering off electric cars made with brutal slave labor involving African children?
Management’s answer is a resounding no.
My proposal is your chance to tell management that profiteering from forced child labor is indecent and immoral.
Thank you for your attention.
Results: Management tried to deflect my proposal by claiming that it’s not directly responsible for brutal child slave labor in the Congo. Lame. Exelon is not directly responsible for racism or police shootings either — but it still supports Black Lives Matter. In any event, my proposal got enough votes — 5% — to automatically qualify to be presented again next year. Only 19% of Exelon stock is owned by individuals. The rest is owned by institutions who generally vote for however management recommends — and management voted against my proposal. So my proposal probably got 26% of the individual shareholder vote — which is a pretty good result given that management recommended against my proposal.