Hobby Lobby's Hypocrisy: The Company's Retirement Plan INVESTS in Contraception Manufacturers

[kpete]

Hobby Lobby's Hypocrisy: The Company's Retirement Plan Invests in Contraception Manufacturers
When Hobby Lobby filed its case against Obamacare's contraception mandate, its retirement plan had more than $73 million invested in funds with stakes in contraception makers.
—By Molly Redden | Tue Apr. 1, 2014 3:00 AM PDT



Documents filed with the Department of Labor and dated December 2012—three months after the company's owners filed their lawsuit—show that the Hobby Lobby 401(k) employee retirement plan held more than $73 million in mutual funds with investments in companies that produce emergency contraceptive pills, intrauterine devices, and drugs commonly used in abortions. Hobby Lobby makes large matching contributions to this company-sponsored 401(k).

Several of the mutual funds in Hobby Lobby's retirement plan have holdings in companies that manufacture the specific drugs and devices that the Green family, which owns Hobby Lobby, is fighting to keep out of Hobby Lobby's health care policies: the emergency contraceptive pills Plan B and Ella, and copper and hormonal intrauterine devices.



http://www.motherjones.com/politics/2014/04/hobby-lobby-retirement-plan-invested-emergency-contraception-and-abortion-drug-makers

[el_bryanto]

1. That's interesting

I don't know how they could get around that - there are Mutual Funds set up to be run along "christian" principals i.e. no contraceptives or porn or anything like that. But they aren't competitive, compared to funds that are open to anyone.

But how would you feel if your company discontinued most mutual funds and replaced them with all "green" mutual funds, that performed slightly under regular funds, but avoided investing in securities of companies that were major polluters?

Bryant

[mac56]

3. If my company was loudly banging the drum about supporting "green" enterprises

and working openly to promote them, I would expect no less in in their selection of mutual funds. YMMV.

[el_bryanto]

5. That's a fair point.

And a company who did that would have to accept that a certain number of talented people wouldn't be willing to sacrifice their financial benefit to work at a "green" company. Truthfully Hobby Lobby should have a similar problem.

Bryant

[bluemarkers]

7. but Mr Lobby is supposed to be all about Christian ethics, not money

and let's not forget that Mr Lobby also imports all that cheap crap from China, and we we how The Communist Government there follows Christian ethics

I really wouldn't be surprised if SCOTUS rules in favor of Mr Lobby (he's such a fine fellow), but I've read several articles lately that Follow the Money. Apparently reconnecting actual people to Hobby Lobby would skirt around many protections of incorporation. Money > God to these gopers, so I really wouldn't be surprised if SCOTUS ruled against Mr Lobby.

I guess part of my brain is still in shock that rwnjs are even forcing this discussion on us. otoh, I feel the tea party's main objective was to divide and conquer ... have to give them props for that.

[el_bryanto]

8. You might be right there

Although there were indications last week they were looking to rule favorably for hobby lobby but in a very very narrow way, which might be having their cake and eating it too.

[n2doc]

9. Pretzel Logic

I'm certain the wingnuts on the SCOTUS can come up with a suitably tortured legal reason to allow HL to drop coverage because of its "beliefs", yet still be protected in all other ways. Just like Bush v. Gore 2000.

[Bernardo de La Paz]

12. Hobby Lobby China ethics

[antiquie]

16. One child policy

In June 2012 Feng Jianmei was forcibly made to abort her 7 month old fetus after not paying a fine for breaking the one-child policy. source

[MatthewStLouis]

20. Ha ha! I was just thinking, "how truly Christian can they be?"

They are all just a bunch of right-wing hypocrites.

It is likely all the products they sell (which their sanctimonious customers purchase) are made in China: A communist country that sanctions forced abortions.

[Grins]

17. And that would be the China...

That has enforced 1-child laws and has one of the highest rates of contraceptive use in the world.

That tacky crap you can buy at Hobby Lobby is mostly made in China, crap that China's government will tax in some form. In effect, Hobby Lobby's buying from China supports China's 1-child and contraceptive policies. It pays for those policies. And American who buy at H-L also support those policies.

And H-L will continue to buy from China, 'cuz profits mean more than sweet, sweet, Jebus.

[freshwest]

36. Well said. n/t

[Berlum]

2. How Republicon is that?

[3catwoman3]

4. Well, well, well.

How verrrrrrrrrrrrrrrry interesting. What a bunch of phonies.

[Triana]

6. FABULOUS

Fabulously hypocritical. Pfft.

Jeeze. It just keeps getting better with these zealots.

[PatrynXX]

10. they'll likely try to get rid of those

and claim ignorance (bad PR)

[MADem]

32. They'll have a harder time getting rid of their one-child-policy, abortion loving, contraception

using (and human-rights abusing) suppliers!

That's the next focus should they actually try to pull that shit! Lie down with dogs, get up with fleas, and all... (no disrespect to dogs, mind you).

[hibbing]

11. love it

Thanks for finding this and posting it. This case scares the heck out of me, but as usual, money trumps any kind of "morals".

Peace

[tea and oranges]

13. Aside from the hypocrisy,

the anti-woman agenda, the belief that xtian values trumps law, what really gets me is this new focus on emotion in law.

Stand your ground is based on the emotion of fear. Give me a break & prove the fear...

Hobby Lobby is based on "sincerely held religious beliefs". Ok, prove the sincerity...

The direction these laws take us is scaring the crap out of me! Who is allowed to have these emotions? How can they be judged? After all, Fred Phelps was sincere about his hateful beliefs, the KKK is now billing themselves as a xtian organization.

If Hobby Lobby has it's way, the ramifications could be horrific.

[kpete]

15. tea and oranges

If Hobby Lobby has it's way, the ramifications could be horrific.

you are SO correct!


peace, kp

[aikoaiko]

14. Typical.

[GoneFishin]

18. Good find. I believe this proves them to be liars, and that their lawsuit is not about religious

convictions. It is just a handy excuse to hide whatever their true motives are.

[spooky3]

25. Well said.

[freshwest]

37. Holder dismissed their 'alleged religious beliefs' showing their true motives - money:

The Justice Department brief, authorized by Attorney General Eric Holder, emphasizes that the company formerly allowed “preventive services” within employee health insurance plans, dismissing the “alleged religious beliefs” of the company’s owners...


http://www.democraticunderground.com/10024741559#post14

It was never about anything but money. Christians need to realize they have been conned by the right.

[Spitfire of ATJ]

19. It's like Romney investing in the medical waste company that services abortion clinics.

[benld74]

21. Before their lawsuit, their health care plan PROVIDED for what

their lawsuit was all about!!!!!

[Tx4obama]

22. Kick n/t

[SunSeeker]

23. This is all about wingnuts using their corporation as a piggy bank for their anti-Obama politics.

[Zambero]

24. I take it we're not talking about aspirin here?

So "religious freedom" essentially means being able to interfere with the free choice of others, while making financial gains from the very products whose availability would be interfering with said religious freedom. You really can't make this stuff up.

[Iliyah]

26. And they call themselves Christians.

Yeah right. Profit, mo money honey. Screw freedom.

[Doctor_J]

27. this is why I love mojo

[Thinkingabout]

28. They are saying they do not want the insurance for their employees to purchase

Birth control but it is okay to purchase Viagra. It is okay for them to make money investing in companies who sells the products but the products are against their religious beliefs, yep, think I understand.

[drm604]

29. One more thing that shows the truth about their supposed "sincere" beliefs.

This is about attacking President Obama and his signature achievement.

[NorthCarolina]

30. It is apparently God Like to make money off of such things, but NOT

to spend holy $'s on them.

[blkmusclmachine]

31. MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONEY MONE

[Ilsa]

33. I'm hoping at least one justice

Reads DU or other sources of this news.

[CFLDem]

34. If they actually read their Bibles

they would know there is nothing Jesus despises more than a hypocrite.

[Leontius]

35. No hypocrisy at all you can make all the contraceptives you want you just can't use them.