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Investor who made offensive sexual comments at summit loses $600 million contract in backlash
By Katie Mettler
Oct. 11, 2019 at 5:22 p.m. EDT
The state of Michigan has pulled its $600 million pension fund from wealth management firm Fisher Investments after the company’s founder and chairman made crude and sexually explicit comments during a fireside chat at the Tiburon CEO Summit in San Francisco this week. In a letter Thursday, Michigan Chief Investment Officer Jon Braeutigam informed the state’s investment board that its bureau of investments, housed under the state Treasury Department, had terminated its relationship with Fisher Investments because of CEO Ken Fisher’s “completely unacceptable comments.”
During a moderated keynote discussion on Tuesday with Chip Roame, managing partner at Tiburon Strategic Advisors, Fisher compared his wealth management strategy to picking up women for sex, according to summit attendees who recounted what they heard in interviews with The Washington Post. Fisher spoke of doing acid and his belief that charities are immoral. He also made crude comments about genitalia, attendees said, and mentioned financier Jeffrey Epstein, who was indicted on federal sex-trafficking charges earlier this year before dying by suicide in prison.
Despite a Tiburon policy that requires summit attendees to keep private what they hear and discuss there, three CEOs publicly shared their accounts of what Fisher said in the interest of exposing his behavior and holding the self-proclaimed “self-made multibillionaire” accountable.
/snip
Amid the backlash, Fisher was initially defiant in an interview with Bloomberg, defending his remarks by saying he had “given a lot of talks, a lot of times, in a lot of places and said stuff like this and never gotten that type of response.” He also claimed that attendees had mischaracterized what he said and were being unfair. Fisher, 68, later issued a formal apology. Roame denounced Fisher’s remarks, said he would never again be invited to speak at Tiburon. He praised Chalekian for speaking out.
https://www.washingtonpost.com/business/2019/10/11/investor-who-made-offensive-sexual-comments-summit-loses-million-contract-backlash/
Oct. 11, 2019 at 5:22 p.m. EDT
The state of Michigan has pulled its $600 million pension fund from wealth management firm Fisher Investments after the company’s founder and chairman made crude and sexually explicit comments during a fireside chat at the Tiburon CEO Summit in San Francisco this week. In a letter Thursday, Michigan Chief Investment Officer Jon Braeutigam informed the state’s investment board that its bureau of investments, housed under the state Treasury Department, had terminated its relationship with Fisher Investments because of CEO Ken Fisher’s “completely unacceptable comments.”
During a moderated keynote discussion on Tuesday with Chip Roame, managing partner at Tiburon Strategic Advisors, Fisher compared his wealth management strategy to picking up women for sex, according to summit attendees who recounted what they heard in interviews with The Washington Post. Fisher spoke of doing acid and his belief that charities are immoral. He also made crude comments about genitalia, attendees said, and mentioned financier Jeffrey Epstein, who was indicted on federal sex-trafficking charges earlier this year before dying by suicide in prison.
Despite a Tiburon policy that requires summit attendees to keep private what they hear and discuss there, three CEOs publicly shared their accounts of what Fisher said in the interest of exposing his behavior and holding the self-proclaimed “self-made multibillionaire” accountable.
/snip
Amid the backlash, Fisher was initially defiant in an interview with Bloomberg, defending his remarks by saying he had “given a lot of talks, a lot of times, in a lot of places and said stuff like this and never gotten that type of response.” He also claimed that attendees had mischaracterized what he said and were being unfair. Fisher, 68, later issued a formal apology. Roame denounced Fisher’s remarks, said he would never again be invited to speak at Tiburon. He praised Chalekian for speaking out.
https://www.washingtonpost.com/business/2019/10/11/investor-who-made-offensive-sexual-comments-summit-loses-million-contract-backlash/
This type is finally be outed and punished.
19 replies
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Alexis Ohanian is! 
Still, the CEO is a person that people should jump to work for. He seems to understand what is involved with the makeup of an effective company.
I was really heartened by that guy!!!!
at those higher levels of corporate America. But one of the CEOs who blew the whistle and made a video to let the world know, appears to be part of a younger generation who are no longer accepting it by their silence.
Try to out do Mao on locking up people?
The stuff a person reads here some days 
But yours is very good!