Writes Chris Geidner, in "Exclusive: Justice Alito sold Bud Light stock amidst anti-trans boycott effort/Alito did not respond to questions about the sale, but its timing raises fair questions — particularly in light of other recent ethical questions" (Law Dork).
“We didn’t drink much, by the standards of Prospect Street,” [said Ken Burns ’72, who roomed with Alito in Joline Hall during their senior year], though in an affectation that might have earned him hoots of derision in down-to-earth Hamilton Township, Alito apparently had somewhat sophisticated (for an undergraduate) tastes in alcohol, shunning beer in favor of an occasional Scotch, sherry, or whiskey sour. Musical tastes in their dorm room ran heavily toward classical. On weekends, Alito often would go home; friends say he regularly attended Mass. For relaxation, Burns says, “we talked with each other.”
If he shunned beer as an undergraduate, I'm going to assume he's not drinking beer 50 years later, and if he is drinking beer, it's surely not Bud Light.
As for that flag — Law Dork is piling on, digging up the Bud Light non-boycott, because the NYT started the attack on Alito with its flag story — what can I say? There's so much done with flags these days. Rainbow flags and the confusing additional stripes. Ukrainian and Palestinian flags. The Juneteenth flag (remember that one?). And all the variations on the American flag — different colors, extra stripes, stars replaced with corporate logos. People screw around with it but also honor and revere it. Trump seems to have invented the idea of hugging it.
But there's the old thing of putting it upside down. I remember circa 1970, back when we often sent letters through the mail, we'd put the American flag stamp on upside down to express opposition to the Vietnam war. And I remember the upside down flag in the Wisconsin protests of 2011. Here's a photograph I took:
At the time, I said: "I don't know who put the flag like that, and I don't think most of those people posing around it realized they were part of a tableau of disrespect."
The very first commenter, MisterBuddwing, said: "Well, inasmuch as an upside-down Stars and Stripes is traditionally regarded as a distress signal, one could argue that the display is not patently disrespectful."
And Dose of Sanity said: "Unless, of course, Althouse, it was displayed in a fashion to make a political statement. An upside down flag is meant to show distress. It is NOT a sign of disrespect."
I resisted: "No. I assume it's a political statement -- a statement of disrespect for the United States." And then, after reading some things Google turned up, I said: "I read some of those articles. This isn't a ship in distress. It's an appropriation of our national symbol to make a political statement. I'm very familiar with this from the 1960s."
The Wisconsin protesters, you may remember, were attempting to stop the duly elected legislature from enacting legislation. This display took place just as "In a last-ditch effort to stop the passage of Gov. Scott Walker's controversial budget repair bill, all 14 Senate Democrats staged a walk-out Thursday..." That resistance to the outcome of the election was presented, by the protesters, as a demonstration of democracy. The oft-chanted chant was "This is what democracy looks like."
What the Alito household was attempting to express with the upside down flag on their personal flagpole, I do not know, but as Adam said to God, The woman made me do it.
***
I like this image from the Princeton article (which originally appeared in the Nassau Herald in 1972):
65 comments:
What is the stock ticker for “Bud Light”?
Why weren’t the people who invaded the Wisconsin capital hunted down, tried, and thrown in gulag like the January 6 protestors?
Harry Litman shows how the degree of expressed outrage rules the Alito question.
I have the same question as Leland posed: how do you sell stock in a single product marketed by a corporation that sells many, many similar products? I suspect “Law Dork” must have flunked his class in business law.
Sorry losers, we’re going to have to insist on one set of rules for everyone. Unless you are going to demand the left wing Supremes recuse themselves from abortion or gun cases you can fuck right off…
…and I admire Alito’s trades- a classic industry long/short. Nothing illegal or improper happening there. Good for him for trying to profit from the stupidity of public companies chasing the social credit score at the expense of their shareholders…
"I have the same question as Leland posed...."
Go to the link and see the evidence presented by Law Dork. There is an image showing what Alito sold and what he bought.
Go to the link and see the evidence presented by Law Dork. There is an image showing what Alito sold and what he bought
I suspect the commenters can see that but they are illuminating the story’s authors ‘sold Bud Light stock’ silliness. InBev is a mega conglomerate what owns the Bud Light brand so a pure Bud Light play is nearly impossible.
The party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. -1984
How come we never see any pictures of the signs setup by Alito’s neighbors?
To the partisans on the left, ANYTHING a non-lefty does is political in meaning and intent AND will always be presented in the worst possible light (see MSM/DNC/etc.). The opposite rule applies to fellow lefty travelers in that EVERYTHING they do is for the best of reasons and intent regardless of what it is or the actual outcomes...
Pelosi becoming a millionaire while in Congress is ONLY due to the shrewd investing acumen of her husband and has NOTHING to do with insider information, as but one example whereas Trump loosing money while President is all part of his evil plan!
I’m sure it isn't obvious to people who loathe finance but for a bullet proof cash cow like Bud Light to lose as much market share as it did is an historic blunder. I recall HBS cases where a 1-2% market share loss was an all hands on deck catastrophe for the brand. Go take a look how much BL has lost. Historic…
One more- note the date of Alito’s transactions- long after much of the damage to the shares had been done. Perhaps his trade is less a capitalization and more a selling of a loser…
I have a large portfolio, it's managed for me by other people who make decisions based on ideas that they will happily discuss with me, should I call them up on the phone. They will even meet me around a table in some well-appointed suite of offices to discuss their strategies, and to get a sense of my appetite for risk, but they make the decisions day to day of what to buy and what to sell, based on the most general direction, such as I need some cash for this or that, so they (hopefully) sell the stock in the most tax efficient manner, while taking into account their vision for making money in whatever type of market that we are currently in. The list of stocks that I own is long and I don't even read it when the statement shows up, beyond a cursory glance from time to time. You don't want your money to become your master. I am sure that Alito is a busy man, and I doubt that he makes many, if any, day to day decisions of what stocks to buy, or which to sell. These are the kinds of things that amateur investors do.
Flag upside down: some kind of protest about the 2020 election/the Swamp, not merely "distress," check. So conservatives go too far in saying it doesn't mean "stop the steal." Perhaps there was a law-abiding way of stopping the steal; I guess we'll never know.
Mrs. Alito more than Alito? I would think again check. So progressives are being very selective in their application of a "marriage penalty." Supposedly if a judge's spouse has strong views on issues that come before the court, the judge must recuse as long as she/he is on the right. Judges on the left have refused to recuse even when the spouse had a paid position which required clear and forceful advocacy of one side on constitutional or other issues.
So the left won't give up on going after Thomas and now Alito.
I don't think there's any such thing as stock in Bud Light. Would this be stock in Anheuser-Busch? Are judges forbidden to engage in stock transactions that might conceivably show bias in a case, or political commitments that are relevant to a case? There's always something to be said for a monkish life for a judge (athough Souter turned out to be a dud), but it's hard to believe this is a good place to draw the line.
Some conservatives have focussed on RBG. No judge was invited to more speaking engagements, including paid ones, or given more "hero of the planet," "savior of women" type awards. The groups arranging these speeches and payments (expenses at a minimum), and giving the awards, almost all had a strong interest in Supreme Court cases. The academy and law schools pretty much all skew left. Was RBG not constantly making it more likely she would be biased in favor of these wonderful people who worshipped her as a goddess? Was that not an improper "interest" in certain cases, much more so than a spouse's politics or paid advocacy?
The old Lou Grant TV show wasn't very good, but it had its moments. A young but tough reporter said something like: it's my job to cover a story, come what may, regardless of who wins or loses, or whether I like it or not. I don't join any organization, I don't carry anyone's card, it's best if I don't have kids, I'm sorry I even need a driver's licence for my work. If I've got someone in my sights, and there's a story, I will nail them, period. That I think is a good journalist or a good judge. We may be somewhat lacking in both.
"Who cares"
William Howard Taft, in I.P Daily vs. East Alton Drainage district, 1929.
Judges have free speech rights too.
There is no such thing as "Bud Light Stock." As one of the other commenters already pointed out, Bud Light is one of the many brands sold by Anheuser Busch InBev. Since 2008, Anheuser Busch has been wholly owned by Anheuser-Busch InBev SA/NV (AB InBev), now the world's largest brewing company, which owns multiple global brands, notably Budweiser, Michelob, Stella Artois, and Beck's.
No member of SCOTUS, Congress and high ranking member of the executive branch should be trading individual stocks - there's too much of a chance for a conflict of interest. Only thing that should be allowed during their tenure should be buying broad market mutual funds or ETFs. No short selling.
Was wondering about the "Dylan" tag on the post. Thought it might be a Princeton connection, but the locust sang two years before Alito's graduation ceremenony. Then I saw the "Mulvaney" on the next line and made me think that Dylan has become a popular name in recent years. For people of Mulvaney's age, it could be more due to the character on Beverly Hills 90210 then the man himself.
Also this: rehajm said...
I’m sure it isn't obvious to people who loathe finance but for a bullet proof cash cow like Bud Light to lose as much market share as it did is an historic blunder. I recall HBS cases where a 1-2% market share loss was an all hands on deck catastrophe for the brand. Go take a look how much BL has lost. Historic…
5/20/24, 7:08 AM
I don't have much but I have a retirement investment person that manages my money and same as rehajm, he meets with me quarterly where he gives me a detailed update and we discuss his current near and long-term plans for managing my funds. I have little to no clue what he actually puts into my portfolio, just if it is or is not increasing in value ahead of inflation. I have a (very) small side "stock" investment portfolio that I play with but even there it is mostly in "stock funds" and not individual stocks. Alto MAY do his own trades (he is clearly a smart guy) but it is smarter to leave it to the experts if it is NOT your area of expertise.
From the post:
"This display took place just as "In a last-ditch effort to stop the passage of Gov. Scott Walker's controversial budget repair bill, all 14 Senate Democrats staged a walk-out Thursday..." That resistance to the outcome of the election was presented, by the protesters, as a demonstration of democracy. The oft-chanted chant was "This is what democracy looks like."
Ah, yes, the Fleebaggers. Phil Hands in the State Journal had a cartoon of them, piled in a Prius, hightailing it for the Illinois line with a State Patrol cruiser in hot pursuit. Hilarious.
I thought at first it was a parody site., but it looks like it is real.
Go to the link and see the evidence presented by Law Dork. There is an image showing what Alito sold and what he bought.
So I gave the dork a click and the argument becomes more absurd.
The boycott began in April of 2023. The dork even notes news articles from July 2023 suggesting that Bud Light distributors may not recover from the boycott. Then in August of 2023, Alito sold AmBev stock for Molson Coors (click to link to see why buying Molson Coors in the summer of 2023 blowups the dorks argument). So after AmBev's stock was tanking, Alito consider buying a competitor that might benefit from AmBev's weakness in the market.
Here's a question for the dork, if Alito was supporting the boycott of AmBev because of Dylan Mulvanny, why did he sell the stock 4 months after the boycott began? Why did he buy a stock of a competitor that supported gay and trans rights?
How come we never see any pictures of the signs setup by Alito’s neighbors?
Because Alito's neighbors are not Supreme Court Justices.
A quick google search puts Alito's net worth at $10mm. As imTay said above, the odds of Alito looking at every holding in his portfolio and making a move in one individual stock are tiny/vanishing. Likely his financial advisor and/or manager/computer of a sector of his portfolio made the trade. In addition, according to the article, the transaction of selling InBev and replacing with Molson/Coors was between $1k and $15k. This is a rounding error to his net worth. Talk about a tempest in a teapot.
As a lad, Alito was also known to collect men's cologne.
The overly cleaver libtard elite MSM/DNC influencers pounce on every Trumper anti woke chimera as a cancelable offense. That's said, Alito is a bought and paid for billionaire oligarchy theocracy tyrannical Loving alter boy.
"How come we never see any pictures of the signs setup by Alito’s neighbors?"
I assume the Alitos (and perhaps others) are protecting the neighbors. That would be the decent thing to do. How would it work to take this whole thing public? If the sign were quoted, things would only go downhill. He's just taking the high road, but now he's getting flak for saying it's something his wife did. Whatever he says will be used against him. But he has life tenure in that seat on the Court. That's got to be some comfort.
The $10 bill used to have an upside down flag on it
John Henry
Those who say insurrection is un-American should remember that the uniting of the states was the result of 13 insurrection (coordinated but 13 independent nations/cohnteies/states)
Celebrate insurrection day this July by flying your us flag upside down
John Henry
Blaming the wife for the flag, even if true, is a cowardly move. This whole charade that Supreme Court justices must be political eunuchs is beyond ridiculous.
Well...selling stock in Anheuser-Busch as it became clear Bud Light just dumped on its entire customer base was a simple and smart move that millions of stock traders did. Any random 8 year old in the street would have told you to 'sell' at that moment. Weird that the NYT expert sees only political shenanigans in the move.
If he wants a story, he might be truly shocked at Nancy Pelosi's returns on her trades over the last 2 decades. Her returns have tripled what even the best professional investors could manage. These are people who do this every day, all day, for a living. She was the Speaker of the House and/or a serving Congressman. One wonders how she does it while holding her job as Speaker and Congressman?
One wonders, but not without knowing.
I fully agree with Althouse on the silly irrelevance of an Alito stock trade that was not insider trading or any other illegality.
I don't understand Althouse's somehow both-sidesing the upside down flag at protests (incluidng the Madison capitol protests) and Alito. The readers seem to be mostly right. The upside down flag is not general disrespect; it is a symbol of distress, and when it is used to communicate "distress" in politics, it is pure political speechifying. Not disrespect for the flag itself.
The area where I have very large and unanswered questions is with the veracity of the Alito story about their flag. Alito claims -- to Shannon Bream alone, and also in a written statement -- that he had nothing whatsoever to do with hanging the flag upside down. But he does not say that he had no knowledge that it was done. The merits more questioning.
Alito makes a somewhat elaborate claim about his wife reacting to other lawn signs in the neighborhood, and a verbal altercation with one or more neighbors. How it is that one goes from there, to an undeniable "Stop the Steal" symbol also merits more questioning.
Because Alito himself has a history of being less than forthcoming (Hobby Lobby, etc.), and because his one-off, no-recording(?) interview with Shannon Bream of the Fox News Channel isn't terribly credible, I think that the one line of questioning to still be pursued is the basic veracity of the story about why the Alito residence flag was flown as it was. (There weren't any yard signs near a children's bus stop because the COVID pandemic precautions had stopped school bus runs at the time. And how exactly does an upside down flag address a concern about an obscene yard sign? And further, how does an upside down "distress" flag become an answer to an offensive conversational interchange with a neighbor?)
The answer to all of this as directed by our democratic republic is to keep asking questions and if Alito doesn't answer them, to use the non-answers to decide how to vote for a President who nominates federal judges, and how to vote for Senators who confirm federal judges.
@Althouse, I took your advice. The article is a bit hard to follow because his timeline wiggles around quite a bit. The author is trying to tie Alito’s stock sale to a tweet posted by Chaya Raichik (aka “Libs of TikTok”), apparently regarding the poor corporate response of Anheuser-Busch to the Bud Lite boycott. According to “Law Dork” this tweet was posted on August 13, 2023. Then here’s Law Dork’s money quote:
Justice Sam Alito sold Anheuser-Busch stocks on August 14, 2023, according to the report.
Now, if that’s all he had done, one might be open to the possibility that he just decided to get rid of a stock that he saw having a rough time. But, the fact that he also purchased Molson Coors stock in the same price range on the same date, in addition to all of the outside activity, makes it significantly more likely that it was a boycott-related action.
Huh? If I expect a firm to lose market share due to a PR debacle, why wouldn’t I buy stock in a competitor? Along with myriad other lefty loonies, the Law Dork hates Chaya Raichik, that’s pretty obvious. However his efforts to turn what is probably coincidental timing into cause and effect come across as pretty pathetic. Is there any indication whatsoever that Alito even saw the Libs of TikTok tweet? Nope. And even the Law Dork has to admit that the poor PR response of Anheuser-Busch to the boycott was discussed in articles in the New York Post and the Wall Street Journal.
Reading this article cost me a minutes of my time I can never get back, and may have — temporarily, I hope — cost me IQ points. Thanks heaps, Professor.
Actually, it may be even worse. July 4 is actually not just insurrection day.
New York, Massachusetts et al didn't just declare their independence.
They formed a conspiracy (oooooh, that scary word) to engage in insurrection.
We should call July 4 "conspiracy to engage in insurrection day"
Probably stick wit just "insurrection day" for convenience
John Henry
I, too,doubt the judge manages his portfolio. I have a small account and my investment manager does all the trading without my approval. Maybe it was just a good time for him to take a loss. The flag bothers me, though.
The law dork genius notes that in the months prior to Alito's sale of InBev, the company had lost "billions of dollars in market cap," and that the lost Bud Light sales were going primarily to Coors Lite and Miller Lite, which are owned by the same company. Yet he assumes (being the genius that he so clearly is) that if one owned InBev stock and responded to this set of facts chose to sell the (tanking) InBev and purchase the stock of the company that was taking the lost Bud Light sales, one must be engaged in a political boycott.
Get back to me when Alito has an upside-down flag tattooed on his neck.
Why, it's practically an outrage.
I note that what he's accused of bears no resemblance to what actually happened, in terms of 'what' was sold, and 'when' the selling took place. After all - we wouldn't want to see one branch of government exercise 'corrupt Insider Trading' privileges that are specifically reserved for another branch of government.
There is a guy on Twitter/X who tracks Pelosi's trades. Better than Buffett.
The Soviet Left are on the march.
If the justices aren't required to put their holdings in a blind trust, then they are entitled to manage them as they see fit, even including choosing to own or not own equities for ethical reasons, just like anybody else.
What was Alito supposed to do? Ride it down? How would that show objectivity on the trans issue? The boycott was public information affecting the stock price. There was no insider trading going on.
Please please please hear the dog whistle. Selling stock is a triggering offense too. We're not crazy. Alito is crazy... see! It's the Bud Light!
Screw these morons. They don't give a shit about actual corruption.
I suspect law dork to be exactly the kind of shit lawyer that we see in Bragg, Merchan, Engoron, and James , in which the only explanation for a common business transaction is whatever they claim it to be. So selling stock of a company performing poorly in a market and buying their competitor has to mean you have a bias against Trans, because that’s how they think and therefore you must be thinking the exact same.
By the way, the author of the LawDork piece (and the whole blog) is not a lawyer and is not a financial specialist. He is a journalist. Further, while he claims to be
an "award-winning journalist" he started the LawDork blog in 2003, "has written" for (as opposed to having been hired by) The New York Times, MSNBC, BuzzFeed News, Metro Weekly, The Appeal, Bolts, Grid, and elsewhere, and has regressed back to just the Law Dork blog. Doesn't seem like a shining star of journalism to me.
Also, lets not forget that the "Libs of TikTok" blog that he cites as the triggering event for the sale is a site that simply reposts verbatim things said online by liberals.
"Whether Alito was participating in the boycott matters" only to partisan morons.
What a waste of electrons. I blame myself for getting this far.
"Pelosi becoming a millionaire while in Congress is ONLY due to the shrewd investing acumen of her husband and has NOTHING to do with insider information, as but one example whereas Trump loosing* money while President is all part of his evil plan!"
No, the stock investment wealth accrued by any member of Congress (and the Supreme Court and the White House) is the ill-gained goods of corrupt powerful people who have ready access to privileged information (and whose decisions and actions often influence the stock market). In a word: Thieves.
*(losing)
(And who believes Trump "lost" money while President? Hahahaha!)
Actually, Modelo (a Mexican beer) took most of the market share lost by Bud Light*, and Modelo is owned by Constellation Brands, not Molson-Coors.
*https://en.wikipedia.org/wiki/Grupo_Modelo "In May 2023, Modelo Especial became the top selling beer in the United States by retail sales volume, surpassing Bud Light. While both beers are owned by the same parent company outside of the United States, the Modelo brand is owned by Constellation Brands in the US and therefore is not affiliated with AB InBev."
I was shocked to see the video of how P. Diddy mistreated that poor woman. In mitigation of his guilt, it must be admitted that he delivered a heartfelt apology and, it should also be noted, that P. Diddy is an outspoken supporter of President Biden. P. Diddy is not beyond redemption....Compare P. Diddy to Judge Alito. Judge Alito's crimes are monstrous, almost beyond human comprehension. Judge Alito not only flew the flag upside down but he sold AB stock. It's chilling to think that human beings are capable of such behavior. He claims that his wife was the one who flew the flag upside down. Who's he married to? Ilse, the She Wolf of the SS. Worse than these crimes is the fact that unlike P. Diddy he does not express remorse or support for President Biden's reelection campaign. We can only hope that the next Congress is Democratic and that we can impeach and remove this dark personage from public life.
Actually, Modelo (a Mexican beer) took most of the market share lost by Bud Light*, and Modelo is owned by Constellation Brands, not Molson-Coors.
True (and I believe that Molson-Coors over the past year has gone down relative to InBev), but no one saw that coming at the time.
“Why weren’t the people who invaded the Wisconsin capital hunted down, tried, and thrown in gulag like the January 6 protestors?”
That was (D)ifferent.
"Doesn't seem like a shining star of journalism to me."
It's easier to identify many current journalists if you use one of your senses other than sight.
William,
Combs used to be a supporter of Brandon. In February he announced he was supporting our president emeritus in 24.
I'm pretty sure I posted links here
A week or so later the first fbi raid took place.
Probably just coincidence.
Reply Henry Cellar was under investigation for corruption since 2014.
In March, he publicly criticized Brandon on the border. Within the week he was indicyed
Again, probably pure coincidence
John Henry
“Why weren’t the people who invaded the Wisconsin capital hunted down, tried, and thrown in gulag like the January 6 protestors?”
Therewere some prosecutions. 2011 Wisconsin Potests on Wikipedia.
Also, very few Wisconsin protesters attacked police officers. Like with sticks, and pepper spray, and the disabled officers' own weapons. I hope and expect that any such attacks would have been investigated and prosecuted. I don't know one way or another (I honestly don't recall all the details from that time period, other than that I was first attracted to the Althouse blog by feeling sympatico with Althouse's general attitude toward the protests, the nascent Walker Administration, and the Wisconsin Supreme Court of those days.)
Blogger tommyesq said...
By the way, the author of the LawDork piece (and the whole blog) is not a lawyer and is not a financial specialist. He is a journalist.
I was wondering about the credentials. The blog title was suspect to me. Enthusiasts call themselves “dorks”, “geeks”, “nerds”. Professionals use professional terms.
It makes no difference.
NY judges can stand up in court and yell "FUCK TRUMP' and people will applaud.
Time to go on offense and put liberals in prison.
Stop apologizing and act.
"What is the stock ticker for “Bud Light”?'
DNKYPS
Talk about a tempest in a teapot.
=================
why not teapot flying around in tempest? in all directions
is tempest watery or windy?
How many of the January 6th political prisoners attacked the police, Chuck the Cunt? Of those not charged with that crime, how many got shorter sentences than anyone tried and convicted for the Wisconsin protests no matter the charges?
You can't blame him, when Biden is PURPOSELY ignoring their ruling....
RNC Research
·
May 19, 2024
@RNCResearch
Biden brags about defying the Supreme Court on his unilateral student loan debt bailout: "When the Supreme Court told me I couldn't, I found two other ways to do it"
False Flag
@Vital_Vibration
Replying to @RNCResearch
There used to be checks and balances...to ensure one branch of government wasn't to powerful....
Biden doesn't care about that...
but it's trump who is a "threat to democracy"?
10:50 AM · May 19, 2024
https://x.com/i/status/1792205297378807848
dork (n.)
"stupid person," 1967, originally U.S. student slang, perhaps from earlier meaning "penis" (1964), itself probably an alteration of dick (n.). Related: Dorky; dorkiness.
- etymonline.com
Did Elena Kagan - who argued in favor of Obamacare as Solicitor General - recuse herself when that decision was made by the Court?
No?
Then fuck off.
Another ginned up nontroversy.
The wife of Justice Alito exhibits clear support for stop the steal and election denialism. The wife of Justice Thomas tried to get Mark Meadows and other coup plotters to keep at it to avoid allowing Biden to take office. Yet both justices feel they should be able to rule on those cases.
I notice the complaints about Merchan's daughter suddenly stopped.
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