Rev. Ken Hutcherson claims that
software giant Microsoft's support for gay rights has cost the
company tens of millions, possibly billions, of dollars.
Hutcherson, who leads Antioch Bible
Church in Microsoft's hometown of Redmond, Washington, in 2008 began
asking followers to donate Microsoft shares to his organization AGN
Financial Network in an effort to influence the company's corporate
policies.
“I had Christians buying stock in
Microsoft and they gave me one share and they kept the rest of their
shares and gave me their proxy to go to the meetings here in Seattle
and say that as stockholders we do not like the way you're going down
in our country, in our state, trying to change the laws and to push
the homosexuality as a minority group,” Hutchreson explained during
a
Tea Party Unity conference call. “I said if you guys don't back
off I'm gonna sell my stock and I'm gonna have everyone that bought
sell stock; they laughed, they pooh-poohed me and they thought I was
nuts so I said, alright just wait and see.”
Hutcherson said that “there was a
selloff of stock on March 15, [2011], $30 million in one day
Microsoft lost and they have not recovered yet. Someone told me the
difference was $30 billion and I never can confirm that because they
won't allow that to come out.”
Hutcherson started the campaign in
2008, when Microsoft shares were trading at over $100. On March 11,
2011, the stock was valued at $25.68, seven days later at $24.80.
Today, the stock is valued at $32.43.
Last year, Microsoft strongly endorsed
passage of Washington's gay marriage law.