Summary by Moomoo AI
Inspire Investing, LLC, along with over 100 investors and financial professionals managing over $250 billion in assets, has urged AT&T Inc. shareholders to vote in favor of Proposal Item 6. This proposal calls for a report on how AT&T's policies impact workforce civil liberties, particularly focusing on Diversity, Equity, and Inclusion (DEI) initiatives. The group argues that DEI programs, which cost U.S. companies around $8 billion annually, have been divisive and counterproductive, citing various sources including a survey by Alliance Defending Freedom and a UK government report. They contend that such initiatives not only alienate employees but also pose legal and financial risks to companies. The white paper by Bowyer Research supports this view, suggesting that corporate political activism on social issues can negatively affect shareholder value. The proponents of the proposal believe that greater transparency and disclosure regarding the company's policies will benefit both AT&T and its shareholders by identifying and mitigating potential risks.