Hobby Lobby is so offended by the idea of contributing to its employees' birth control expenses that it fought all the way to the Supreme Court over the issue. But its retirement plan has over $73M sunk into funds that include companies that make contraception.
The company made the investments in mutual funds that include Teva Pharmaceutical Industries, Actavis, Pfizer, Forest Laboratories, Aetna and Humana three months after it filed its lawsuit. The companies in their portfolio make contraceptive pills, abortion drugs, IUDs, and provide surgical abortions and emergency contraception. The funds comprise three quarters of Hobby Lobby's overall portfolio.
In a brief filed with the Supreme Court, the Greens object to covering Plan B, Ella, and IUDs because they claim that these products can prevent a fertilized egg from implanting in a woman's uterus—a process the Greens consider abortion. But researchers reject the notion that emergency contraceptive pills prevent implantation the implantation of a fertilized egg. Instead, they work by delaying ovulation or making it harder for sperm to swim to the egg. The Green's contention that the pills cause abortions is a central pillar of their argument for gutting the contraception mandate. Yet, for years, Hobby Lobby's health insurance plans did cover Plan B and Ella. It was only in 2012, when the Greens considered filing a lawsuit against the Affordable Care Act, that they dropped these drugs from the plan.
A website Hobby Lobby set up to answer questions about the Supreme Court case states that its 401(k) plan comes with "a generous company match." In 2012, Hobby Lobby contributed $3.8 million to its employee savings plans, which had 13,400 employee participants at the beginning of that year.
Hobby Lobby's Hypocrisy: The Company's Retirement Plan Invests in Contraception Manufacturers
[Molly Redden/Mother Jones]
(Image: Wal-Mart (now Hobby Lobby) Fayetteville, NC, Mike Kalasnik, CC-BY)
Thailand’s insane lese majeste laws make it radioactively illegal to criticize the royal family, reflecting a profound insecurity about the legitimacy of the ruling elites there that can only be satisfied through blanket censorship orders whenever one of the royals does something ridiculous, cruel or both (this happens a lot).
Shelter is a human necessity second only to food on Maslow’s hierarchy of needs; but it’s also an asset-class that is increasingly relied upon by the world’s super-rich for money-laundering, rent-extraction and simple investment — this creates a dilemma for governments, who are under pressure to ratchet up the cost of a fundamental human necessity […]
Construction is near to completion on Apple’s $5B campus in Cupertino, and the project has included many odd notes, like the insistence on not having thresholds on the floor of the doorways lest daydreaming engineers trip over them, and some weird ideas about where the bathrooms should go.
The Ticwatch 2 Active Smartwatch is a simpler take on an active wearable that raised over $2m dollars on Kickstarter and is currently offered in the Boing Boing Store.Somewhere in between the single-day battery life and platform-specificity of the Apple Watch and Android Wear devices, there exists the Ticwatch. Instead of trying to shoehorn another […]
Loot Crate is a subscription service that delivers a box of curated pop culture goods to your doorstep. To sample their geeky wares, you can order a single mystery box exclusively from the Boing Boing Store.Each month Loot Crate sends you 6-7 unique items and apparel, including collectibles, books, and t-shirts. Pulling inspiration from all […]
Yes, yes there is. The ultraportable Twisty Glass Mini boasts all of the simplicity of its forebear, while fitting just a little bit better in your pocket.The Mini is perfect for casual smokers, and anyone who doesn’t have the patience or fine motor skill for rolling papers. This piece keeps the convenient design of its older […]