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Visa Shareholders Express Concern Over Company’s Failure to Address Chinese Communist Party Atrocities

Washington, D.C. – Visa executives today refused to address concerns from investors over the company’s continued sponsorship of the upcoming Beijing Olympics in light of the Chinese Communist Party’s ongoing genocide of Uyghurs and other Muslim minority groups.

“It is unconscionable that an America company would spend shareholder dollars to fund these Genocide Olympics,” said National Center Executive Vice President Justin Danhof, Esq., who submitted a question at today’s annual Visa shareholder meeting, which was held virtually. “If Visa CEO Alfred Kelly can’t defend the company’s actions, then why is Visa still doing it? The Chinese Communist Party is engaged in egregious human rights abuses and Visa is simply looking the other way. This is extreme corporate cowardice.”

At the meeting, Danhof submitted this question:

I’m Justin Danhof of the National Center for Public Policy Research. Visa is sponsoring the upcoming Beijing Olympics even though the U.S. government is boycotting the games over China’s human rights atrocities. Last June, a bipartisan congressional committee questioned and condemned Visa and other companies for sponsoring the Olympics, but the company’s representative was evasive on the issue. You’ve had a lot of time to think about it. Do you believe the U.S. State Department’s assessment that China is committing a genocide against Uyghurs and other Muslim minority groups and, if so, why would you sponsor the Olympic games?

Visa executives refused to answer the question. Instead, the company held a sham question and answer session with planted softball questions.

“Kelly and his team couldn’t even acknowledge a bipartisan assessment from the federal government. That’s pathetic. The political divide in Washington, D.C. is as bad as ever, yet both the right and left agree that the Chinese government is committing genocide. It’s unconscionable that Kelly can’t admit this basic fact,” said Danhof.

“It’s also odd that Kelly won’t speak to these human rights issues. After all, Visa has more than bent its knee to Black Lives Matter here in America. In the wake of George Floyd and racial riots in 2020, the company even announced a wildly racist hiring and promotion program to increase the number of certain minorities throughout the firm,” noted Danhof. “Perhaps the Department of Labor should investigate whether this program complies with federal law.”

Today’s meeting marks the second time FEP has participated in a shareholder meeting in 2022. To schedule an interview with a member of the Free Enterprise Project on this or other issues, contact Judy Kent at (703) 477-7476.

Launched in 2007, the National Center’s Free Enterprise Project focuses on shareholder activism and the confluence of big government and big business. Over the past four years alone, FEP representatives have participated in over 100 shareholder meetings – advancing free-market ideals about health care, energy, taxes, subsidies, regulations, religious freedom, food policies, media bias, gun rights, workers’ rights and other important public policy issues. As the leading voice for conservative-minded investors, it annually files more than 90 percent of all right-of-center shareholder resolutions. Dozens of liberal organizations, however, annually file more than 95 percent of all policy-oriented shareholder resolutions and continue to exert undue influence over corporate America.

FEP activity has been covered by media outlets including the New York Times, Washington Post, USA Today, Variety, the Associated Press, Bloomberg, Drudge Report, Business Insider, National Public Radio and SiriusXM. FEP’s work is prominently featured in Stephen Soukup’s new book The Dictatorship of Woke Capital: How Political Correctness Captured Big Business (Encounter Books) and Kimberley Strassel’s 2016 book The Intimidation Game: How the Left is Silencing Free Speech (Hachette Book Group).

The National Center for Public Policy Research, founded in 1982, is a non-partisan, free-market, independent conservative think-tank. Ninety-four percent of its support comes from individuals, less than four percent from foundations and less than two percent from corporations. It receives over 350,000 individual contributions a year from over 60,000 active recent contributors.

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Author: The National Center