As disgusting as many of the
radio and television shock jocks are in their feeble attempts at
humor by making fun of people, did you ever think that you could
be partnering with people like Don Imus? When you consider that the
cable television network that was carrying the simulcast of his radio
show is a subsidiary of General Electric who owns NBC and has controlling
interest in NBC's cable affiliates, the shareholders of General Electric
are the proportionate owners of this asset. If you own a mutual fund
that invests in large capital growth and value companies, your fund
could be a holder of General Electric. If you own an index fund that
represents the S&P 500 index; or the Dow Jones Industrial Averages
of 30 Industrial Companies; or the Russel 1000 index; they all own
some shares of GE.
Many individuals and advisors have lost their sense
of what real ownership means in our dynamic economy. By placing retirement
funds and 401(k) or 403(b) in mutual funds, we believe we have passed
this role of selecting the stocks inside the fund to others and also
the responsiblity of ownership as well. "NOT SO FAST MY FRIEND!" We
are all responsible to know if the funds we purchase in our accounts
are involved in owning stocks whose activities are offensive. Do
you know what programing strategies a company like Viacom is following?
Do you know if Viacom is present in the mutual fund or funds you
are holding?
What about this same language which is used on
many of the music CD's and in the videos of hip hop artists? If Don
Imus can be fired for his off handed remarks, why not start holding
some other people responsible for the filth on our TV sets or the
pornographic profit machine that fills the internet? This is our
chance to take a stand on moral issues wherever you find them and
not back off because it will be unpopular. Consider the "Heroines" in
this event, the women's basketball team from Rutgers and their Head
Coach. They made the difference in this because they stood up and
acted like adults well beyond their years!
Scott Fehrenbacher wrote a book a few years back called Put Your Money
Where Your Morals Are and he chose to attend a stockholder meeting
of what is now Time Warner and read the lyrics to Cop Killer and several
filthy music CD's that were produced by that company. That would be
a good exercise this week to ask your kids, grandkids, or friends to
sit down and write the lyrics to some of the things that are being
broadcast on stations coming into your home on the cable system and
see if you are not really tolerating a lot more garbage than you thought.
As you consider the plight of Mr. Imus, remember
the words of Jesus when he told the people who wanted to stone the
prostitute to death... "he who is without sin among you, cast the first stone".