dan_admin_civil

Three of the largest investment shops in the U.S.—BlackRock, Vanguard and State Street—have long used their dominance in passive-investment funds to force corporations to comply with their preferred set of environmental, social and governance policies. Why are the Big Three pursuing these policies in lockstep? Why have no institutions in the financial-services industry except one—the recently launched Strive Asset Management—opted to place the investor first, by giving priority to profit over social issues? The answer reads like a punch line: The Big Three own each other and their market competitors. The Clayton Act was made for situations like this.

Under pressure from the ACR Project and the shareholders we represent, Lowe’s Companies, Inc. has replaced a multi-year promotion that discriminated against small-businesses based on the race and sex of their owners with a parallel program treating all businesses equally. The move follows on the heels of the ACR Project’s parallel success in convincing Coca-Cola to abandon its discriminatory outside counsel policy.

Today, we joined with the Manhattan Institute in submitting an amicus brief to the Court of Appeals for the 4th Circuit, supporting the Coalition for TJ in defending the lower court's summary judgment enjoining the Fairfax County Public Schools from continuing to racially discriminate against Northern Virginia's Asian population in school assignments. FCPS was wrong to insist on allocating children's K-12 education based on race, just as their predecessors were wrong during Jim Crow, and just as the school districts involved in Parents Involved in Cmty. Sch. v. Seattle Sch. Dist. were wrong 15 years ago.  

Under pressure from the ACR Project, Pittsburgh, Pennsylvania has canceled its race-based municipal basic-minimum-income program.

The law here is no more complicated than the American sense of morality it embodies.