Max Keiser, a former Wall Street broker and founder of the first patented virtual stock exchange, is developing an organizing tool that promises to take the tried and true economic boycott to another level.
Keiser's creation, KarmabanQue, is an organizational forum designed to create corporate losses and generate profit from the fallout. KarmabanQue's Web site will track the public reputation of socially suspect corporations in an effort to calculate when they would be most vulnerable to a boycott. The most susceptible will also be selected for a hedge fund that has been set up for wealthy activists. (Hedge funds are specialized investment packages that pool multiple investors' resources for the purpose of selling short. When selling short, stockholders invest in stock that is likely to drop in price and return devalued stock to their lender, keeping the margin between the original price and the lesser price for themselves.)
When a chosen company is most vulnerable, KarmabanQue will
encourage interested activists to stage traditional boycotts, which
will help drive a targeted
companies' company's share
prices down, enabling the short sell. A portion of the profits from
the fund will be given to 'victims of the American business model,'
people who have been injured by the targeted corporations.
KarmabanQue has already targeted Coca-Cola and Ireland-based Ryanair and, by the end of March, KarmabanQue investors will set up the fund that Keiser hopes to be worth $100 million (he's already raised $12 million).
Go there >>KarmabanQue
- Ecology Fund Puts Ryanair on its Hit List
- KarmabanQue... It's Time to Take Down Coca Cola
- Wikipedia on Short Selling
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