Lawrence Meyers of InvestorPlace’s InvestorPolitics forum writes that the Kellogg Company “is being incredibly, mind-numbingly stupid” by openly attacking Breitbart News after buying into “the media’s false narrative that conservatives and Breitbart’s website consist of deplorables, haters, racists, sexists, White Nationalists, who also kick puppies and club baby seals.” Kellogg’s actions, Meyers writes, “immediately alienates up to half of its domestic consumers.” He warns, “You do not pick a fight with Breitbart.”
Meyers cites the recent Target transgender bathroom boycott as an example of why corporations should avoid speaking on political issues because “40% to 50% of the country will disagree with the issue or opinion under discussion.”
The announcement from Kellogg came yesterday that it would stop advertising on the conservative media website Breitbart. Specifically, “We regularly work with our media buying partners to ensure our ads do not appear on sites that aren’t aligned with our values as a company,” Kellogg spokesperson Kris Charles in a statement.
Of course, no specific examples were given. The inference, however, is clear. Kellogg has bought into the media’s false narrative that conservatives and Breitbart’s website consist of deplorables, haters, racists, sexists, White Nationalists, who also kick puppies and club baby seals.
Whatever your belief is doesn’t actually matter. Investing reality does. And the broader investing point is that Kellogg is being incredibly, mind-numbingly stupid.
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