When you’re so against providing contraceptive to your female employees that you take your case all the way to the Supreme Court, you better make sure your business dealings and squeaky clean and represent those strong beliefs. Hobby Lobby’s business dealings are not squeaky clean.
Claiming religious beliefs, Hobby Lobby took issues with the Obamacare provision requiring contraception be part of an employee’s health care package. They took their case all the way to the Supreme Court and earlier this week the Supreme Court agreed that, base on Hobby’s religious beliefs, the company did not have to provide contraception to its employees. But when Mother Jones did some digging a few months ago, they found out that Hobby Lobby is making millions of dollars from… get this… contraception!
Mother Jones found that Hobby Lobby’s retirement plan had more than $73 million invested in companies that produced emergency contraception pills. It was that same type of birth control that Hobby Lobby said it had an objection to when it took its case to the Supreme Court. CNN needed some answers and put Hobby Lobby and their hypocrisy on full blast!
Enter CNN host Ashleigh Banfield.
“The critics are calling Hobby Lobby’s 401(k) investments hypocrisy at its finest,” Banfield emphasized on Wednesday, adding that CNN had not gotten an explanation from the company after giving it “plenty of time” to respond.
“I don’t even know where to begin on this one,” the CNN host remarked. “I kept thinking to myself, this had to be an accident. But then I thought, it’s no accident when you are in the middle of the biggest political storm — all the way to the Supreme Court — and, yet, your guys aren’t aware of what your investments are in your very, very large 401(k)?”
CNN Business Correspondent Alison Kosik said that it was possible that Hobby Lobby’s investments in contraception makers could have initially been an oversight, but she noted that the company could ask its mutual fund manager to forbid investments in certain companies.
“It would mean that Hobby Lobby employees would most likely have higher fees,” Kosik pointed out. “But if you ask me, my thought is, if they’re that fervent about upholding their biblical principles, maybe that should include their investments to.”
“That’s putting their money where their mouth is,” she concluded.
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