Comcast Does So Much Lobbying That It Says Disclosing It All Is Too Hard (arstechnica.com) 79
An anonymous reader quotes a report from Ars Technica: Comcast may be harming its reputation by failing to reveal all of its lobbying activities, including its involvement in trade associations and lobbying at the state level, a group of shareholders says in a proposal that asks for more lobbying disclosures. Comcast's disclosures for its lobbying of state governments "are often cursory or non-existent," and Comcast's failure to disclose its involvement in trade associations means that "investors have neither an accurate picture of the company's total lobbying expenditures nor an understanding of its priorities, interests, or potential risks from memberships," the proposal said. "Comcast's lack of transparency around its lobbying poses risks to its already troubled reputation, which is concerning in a highly regulated industry, especially given the rise of public Internet alternatives."
The proposal is on the ballot for Comcast's June 5 annual shareholder meeting and was filed by Friends Fiduciary, which "invest[s] based on Quaker values" and says it "actively screen[s] companies for social responsibility." Friends Fiduciary and other investors who joined the proposal collectively hold "over 1 million shares of Comcast stock," they said. The shareholder resolution would be non-binding even if it passed. It asks for an annual report disclosing, among other things, "Payments by Comcast used for (a) direct or indirect lobbying or (b) grassroots lobbying communications" and information on "Comcast's membership in and payments to any tax-exempt organization that writes and endorses model legislation." Comcast's board unanimously recommended that shareholders vote against the Friends Fiduciary resolution, saying that Comcast "already disclose[s] most of our government lobbying interactions" as required by law. "[O]ur Board believes that the requirements in this proposal are burdensome and an unproductive use of our resources and are not in the best interests of our shareholders," Comcast said in a rebuttal included in its proxy statement.
The proposal is on the ballot for Comcast's June 5 annual shareholder meeting and was filed by Friends Fiduciary, which "invest[s] based on Quaker values" and says it "actively screen[s] companies for social responsibility." Friends Fiduciary and other investors who joined the proposal collectively hold "over 1 million shares of Comcast stock," they said. The shareholder resolution would be non-binding even if it passed. It asks for an annual report disclosing, among other things, "Payments by Comcast used for (a) direct or indirect lobbying or (b) grassroots lobbying communications" and information on "Comcast's membership in and payments to any tax-exempt organization that writes and endorses model legislation." Comcast's board unanimously recommended that shareholders vote against the Friends Fiduciary resolution, saying that Comcast "already disclose[s] most of our government lobbying interactions" as required by law. "[O]ur Board believes that the requirements in this proposal are burdensome and an unproductive use of our resources and are not in the best interests of our shareholders," Comcast said in a rebuttal included in its proxy statement.
Sure (Score:5, Funny)
Re: (Score:2)
I'm not sure it would be trivial. I do believe them when they claim it would not be in the best interests of their shareholders.
Re: Sure (Score:2)
How much did it cost (Score:1)
to get the best lobbyist an industry has ever had in office? Ajit Pai https://www.fcc.gov/about/lead... [fcc.gov]
Re: (Score:2, Informative)
Nothing. Mitch McConnell is a sellout who would trade America for a buffalo turd.
Re: (Score:2)
Tom Wheeler and Ajit Pai continue the tradition of having rounded surnames which reflect the nature of the revolving door they partake in.
Easy solution (Score:3)
And remember kiddos, you can't serve two masters!
Re: (Score:3)
That's not an option (Score:2)
Re:Easy solution (Score:4, Insightful)
How do you stop the rich from buying a more powerful government?
You seem to be confusing cause and effect, the rich want a powerful government to tilt the table as it is cheaper then actually competing. Capitalism in action
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Re: Government is not powerful *enough*! (Score:1)
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no more lobbying. Stop voting for anyone who takes their money [cbsnews.com]. Make it a death mark. Hell, make taking corporate money in general the end of your political career. It's not even that hard [opensecrets.org] to know who's taking money. And remember kiddos, you can't serve two masters!
Comcast sucks.
That said, the people who own and work for it have every bit as much right to petition the government for redress as anyone else does. (Or that was the idea some boring old white guys had over a couple centuries ago, anyway.)
Re: Easy solution (Score:2)
No one is trying to prevent Comcrap's employees from petitioning the government. The idea is to prevent the "corporate person" from doling out lawful-bribes to government officials.
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You're supposed to go to jail for that shit ...
Only if it's against the law.
If the people who benefit set the whole system up the laws don't really apply to them then you don't go to jail.
Even if you are stupid enough to get caught doing something "illegal" you can get one of your friends to pardon you.
Do a quick search on Oliver North or Iran-Contra. In any real democracy Mr. Reagan would have died in jail. Oliver North is a hero, apparently.
Sure Thing (Score:5, Funny)
Comcast may be harming its reputation
A ha ha ha ha!
is concerning in a highly regulated industry
Oh wait, you're serious. Let me laugh even harder.
A ha! A ha! A fucking ha ha ha!
Spectrum has been advertising heavily (Score:3)
30 years later I can actually interact with Comcast. Yeah, no. I'm not signing up for any company that has been in the top 3 "most hated companies" for 30-40 years, especially when the hate hit me 30 years before they could access my credit card.
Re:Spectrum has been advertising heavily (Score:4, Informative)
Re: Spectrum has been advertising heavily (Score:4, Informative)
"Comcast may be harming its reputation" (Score:2)
The public perception is that Comcast barely even has a reputation that can be further harmed.
That said... I use them for network access. And that's working pretty darned well with only one brief outage since switching to them last year. My opinion could easily change if I ever had an urge to start watching cable TV agani---which is unlikely since we stopped subscribing to cable TV in the early '90s and seem to have survived quite nicely without it.
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I use them for network access. And that's working pretty darned well with only one brief outage since switching to them last year. My opinion could easily change if I ever had an urge to start watching cable TV agani
It's only been a year. They have yet to begin boiling the frog. First there will be a $1 fee for Network Sustainment. There will be a $1.35 fee for Municipal Taxes. Then there will be a $2.50/month Infrastructure Maintenance Fee. Then they will auto-subscribe you to a cable package you didn't ask for, lie when you say you didn't ask for it, and try to charge you a cancellation fee. It's Comcast. They work hard at being the most hated utility on the continent.
Splatter (Score:3)
If Comcast had a reputation to be harmed, they might not need to spend all that lobbying money.
Harder than going to jail (Score:1)
Seems to me simple accounting, every corporate transaction goes in the ledger, just needs a little mark, "this was lobbying". Then push the button. Automated accounting is pretty efficient these days.
Saying "it is too hard" is not an excuse.
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Seems to me simple accounting, every corporate transaction goes in the ledger, just needs a little mark, "this was lobbying".
You would think it should be that easy, until you actually have to determine what is lobbying and what isn't. Is a membership fee to a trade organization "lobbying"? Only part of the TA activity (or even none) might be lobbying. Is the entire cost of a launch party for a new service "lobbying" just because the local politicians are invited, or is it valid marketing?
This same problem shows up when unions determine how much of their activity is lobbying so that people who want to exempt themselves from polit
Flip the switch! (Score:1)
Facebook activism good!
Google activism good!
Bank activism good!
Comcast activism BAD!
ALWAYS make sure to flip your opinion switch when the company with the correct agenda appears. Having a consistent opinion for or against corporate intrusion into our democracy is NOT OK.
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Comcast is an ISP. As a service provider, they are much more dangerous than any content provider that has no power over your internet connection.
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You have it exactly backwards. There are alternatives to Google. To make them work, you have to use them. Comcast can cut off your entire internet, Google cannot. Google is a trinket, Comcast is an anchor [reuters.com]. If google starts laying cable for public access, and there is no way around them, then we can regulate them.
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Comcast can afford to bribe politicians but no shills that know how to write to meet the intended audience?
C'mon, you can do better. Whataboutism doesn't work here.
Who cares how much lobbying they do? (Score:2)
The way to combat it is to vote out the politicians that are under their influence. The money trail makes it pretty easy to check. And voting records are public, so there is no excuse...
Re: There is no business like the lobbying busines (Score:1)
That's too bad. (Score:5, Insightful)
If they can't accurately document their lobbying transactions then they shouldn't be able to claim the expenses as a tax deduction.
Could it's reputation be any worse? (Score:2)
why not cut the lobbying and rebuild the plants (Score:2)
why not cut the lobbying and rebuild the plants.
There HD lineup sucks!
getting around political contributions limits (Score:2)
Comcast encourages its employees to donate to political causes it supports, and then Comcast will reimburse the employee. In this way, its influence is hidden.
Billing (Score:2)
Re: In other countries.. (Score:1)
Easy solution (Score:2)
Fine of 1.000.000 dollars times prior failures to disclose per failure to disclose.
Either they learn to track their bribery or they cease to exist due to bankruptcy. Either's fine by me.
Has anyone checked the law? (Score:2)