Pastor's New Plan: Apparently unable to damage Nike via a traditional boycott, Seattle-based pastor Ken Hutcherson has a diabolical new scheme to punish the company for its support of human rights.
Hutcherson, still angry that the company doesn't hate homosexuals, has asked his followers to buy up the company's stock and then dump it to drive prices down. He wants supporters to buy one or two shares over the next few months, then sell them May 1.
Perhaps I'm missing something, but wouldn't this work better if people already owned the stock? Won't buying the stock in the first place drive the share price up? And won't a hell of a lot of people have to buy "one or two" shares to make this work? And... But there I go applying rational thought, when clearly what is required here is "faith."
Hutcherson, still angry that the company doesn't hate homosexuals, has asked his followers to buy up the company's stock and then dump it to drive prices down. He wants supporters to buy one or two shares over the next few months, then sell them May 1.
Perhaps I'm missing something, but wouldn't this work better if people already owned the stock? Won't buying the stock in the first place drive the share price up? And won't a hell of a lot of people have to buy "one or two" shares to make this work? And... But there I go applying rational thought, when clearly what is required here is "faith."
posted by Paul A. Holmes @ 1:28 AM
1 Comments:
At 2:18 PM,
Anonymous said…
I hope someone at the SEC is taking note of this scheme. It could easily be the case that Hutcherson is a con man and the stock idea is a scam to enrich himself.
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