Best Buy Found to Support Anti-LGBT Organizations; Equity Foundation Subsequently Liquidates Stock

Due to the recent anti-LGBT activity of Best Buy, Equity Foundation has decided to liquidate all Best Buy stocks currently held by the Foundation. Equity Foundation believes that its investment policies should reflect the mission and values of the organization and that investment-related activities should be directed at supporting or changing corporate behavior to align with these values. Specifically, corporations must be encouraged to adopt policies that promote social justice, equity and fairness for all people.

Peter Cunningham, Equity Foundation Executive Director released the following statement:

“I have directed our Foundation’s portfolio management firm, Trillium Asset Management, to liquidate all stock we own in Best Buy given its support of anti-LGBT candidates. We are particularly troubled that Best Buy has chosen to donate money to Minnesota gubernatorial candidate Tom Emmer, who supports a rock Christian ministry that praises Muslim countries that execute LGBT citizens. I encourage all organizations and individuals to join Equity Foundation in demanding that Best Buy publicly apologize for its actions and request that its donations to anti-LGBT candidates be returned. In addition, I encourage all of our Equity Foundation donors and friends to boycott shopping at Best Buy until this situation is rectified. The LGBT community’s buying power is $743 Billion per year in the United States according to Witeck-Combs Communications. Best Buy should recognize the LGBT community is an economic as well as a political force to be reckoned with when making future decisions about which candidates to support.”

Equity Foundation was founded in 1989 to bring together like minded individuals dedicated to promoting diversity and eradicating prejudice against LGBT people in direct response to the anti-LGBT ballot propositions in the State of Oregon.

Equity Foundation builds communities that advance the dignity and worth of all people. Equity Foundation promotes philanthropy and positive interaction by granting funds to organizations that work to eradicate prejudice against gender and sexual minorities and people from other diverse communities.