"Until I see real change at Google, I don't want to be any part of it."
When this many employees walk out of a corporation, you know something's gone wrong - very, very wrong. Google has had numerous opportunities to get this right, but they haven't.
For a company that's growing, Google's stock has long been a negative value proposition compared to other big technology companies in their industry. I purchased my Google stock years ago, and I believed in Google then. In the promise of information for all, but since then I have seen them become less of a company that helps people into more of a company that tracks people. They also apparently fire people who report illegal activity within their company.
I've held this stock since before Alphabet split the stock in 2014 (and they only reason they split it was to keep voting rights out of shareholder hands). I originally purchased this stock for $1150. The current price of GOOG and GOOGL is $1075 and $1090, respectively. Sure, they split the stock and both of them are (almost) back to the original price I paid. So it doubled in 5 years, so what? They don't offer any dividends, but offer their naughty executives $90 million dollar exit packages. Source: CNBC
You can double your money with Amazon in one or two years. Microsoft has doubled in price about every 2 or 3 years as well, and they offer dividends (decent ones at that). Why should I hold on to my Google stock, when not only is it not making any money for me, it's also supporting pay inequality?
Natasha Lamb, the activist investor with Arjuna Capital (who has spurred several big corporations into action with shareholder proposals on gender pay equity), was not happy with Google's response to her efforts to obtain pay equity data. Google reported its pay rate on only 89% of its employees, all the while claiming their pay structures were equal for men and women. Source: USA Today
Women and Men won't stand for unequal policies that protect wrongdoers, unfair treatment of employees who speak up, discrimination against minorities and women, unequal pay, and sexual harassment anymore. That's why so many Google employees walked out of their offices on November 1, 2018 in protest. They want real change, and so do I. Until I see that real change at Google, I don't want to be any part of it. I let my money do the talking on my behalf, and I sold all of my GOOG and GOOGL stock, and you should too!
Women investors and the amount of wealth controlled by women is growing daily, and we have a responsibility to make sure the companies we invest in reflect our values. If they don't, divest. Don't support them. Let their stock prices fall so activist investors can scoop up the dirt cheap shares, then introduce shareholder proposals that can create real change. Once companies begin to implement fair practices for all employees, especially promoting women to advanced decision-making positions in the company, companies benefit. Their bottom lines benefit. Those are the kinds of companies I want to support, companies that support equality.
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