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Investor group advises Walmart and Costco against selling abortion pill

IFN English by IFN English
August 9, 2024
in Breaking News, Foreground, Life
87
Reading Time: 2 mins read
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Investor group advises Walmart and Costco against selling abortion pill
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An investor group is cautioning retail giants, including Walmart and Costco, against offering the abortion pill, citing potential legal and political dangers as well as the risk of alienating clientele. This advisory was disseminated through letters signed by over three dozen financial executives and stakeholders who collectively have investments totaling tens of millions of dollars in the addressed companies. This correspondence came in response to New York City’s comptroller encouraging said retailers to stock mifepristone, a drug inducing abortion, arguing that failure to do so might purportedly dent investor sentiment and question the businesses’ dedication to enhancing sales and shareholder returns.

In a direct contradiction to the New York City comptroller’s assertions, the investor group’s letters referred to the selling of the abortion pill as a potentially legally and politically charged move fraught with considerable risks to the company’s reputation. Their concerns span from potential legal disputes to the reduction in their customer bases due to some consumers’ disagreement with abortion. They also highlighted the present uncertainty surrounding the drug’s distribution given the recent Supreme Court ruling on FDA v. Alliance for Hippocratic Medicine, which has left mifepristone’s legality up in the air.

The investors further argued for the consideration of potential customer loss that might occur if the branded retailers associate with this controversial product, not least of all due to the pill’s capacity to end unborn lives. They underlined this point by referring to estimates from The Brookings Institution detailing that raising a child born in 2015 has projected costs of over $310,000, which includes expenses on numerous items sold by these retailers such as food, clothing, furniture, and healthcare items.

According to the investors’ letters, the selling of the abortion pill could exacerbate the crisis caused by the current record-low birth rates. The group also noted health risks associated with the drug, warning that the pill’s controversial nature and risk to maternal health could draw retailers into an intense political battleground, damaging their reputations. Robert Netzly, CEO of Inspire Investing, headed the long list of signatories. Inspire Investing is noted for its commitment to empowering Christian investors and for promoting responsible investment strategies.

Tags: AbortionPro-liferight to life
IFN English

IFN English

Articles published by the English iFamNews editorial team.

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