What is Wall Street?

Wal-Mart investor Trinity Wall Street a religious group suing WalMart over vote on gun sales. What do you think of their position?

• U.S. District Judge Leonard Stark handed down the ruling in favor of New York City’s Trinity Wall Street church, allowing for their original proposal to be presented and voted on by shareholders in 2015. “We believe that on critical issues such as the sale of products that may threaten the safety or well-being of communities, corporate boards must exercise their oversight role to assure balance among customer, shareholder, and societal interests,” the Rev. Dr. James H. Cooper of Trinity Wall Street church said in an online statement Thursday. Trinity Wall Street, a Wal-Mart investor known for its exceeding wealth, sued the world’s largest retailer after it turned down a proposal calling for its board to increase oversight on the sale of guns equipped to hold more than 10 rounds of ammunition and other potentially harmful items. http://www.pbs.org/newshour/rundown/wal-mart-investors-reconsider-gun-sales-nyc-church-challenge/

• Answer:

  Doesn't really make sense. Can any shareholder demand that a proposal be voted on? I don't think I can go to any company that I'm invested in and demand they hold a vote on what they do or sell. If this shareholder is large enough that some special rules apply, which the board did not respect, then so be it. If this is simply an exception to the rules because "ooo scary guns", then that's not cool.