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The Good, Bad and Ugly

Indelible Ledger of 5-dimension moral ratings of top global corporations’ response to the invasion of Ukraine 
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AutoCrew

Rated as its parent Bosch Group
Germany

Associated brands: Bosch Group, Balay, Coldex, Constructa, Dremel, Dynacord, Electro-Voice, ETAS, Gaggenau, HC Cargo, Home Connect, ITK Engineering, Junkers, Neff, Pitsos, Profilo, Robinair, Telex, Thermador, Worcester Bosch, Zexel

Laggard Faint-hearted with Power
i
-4

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
9.5
Extreme Power
Potential economic impact
Post-invasion Events
0.1  Degree
What?
1.0  Speed
When?
5.0  Attitude
How?
Bosch was reported by Bloomberg to have "halted deliveries of truck components to Russian customers" as parts "may have been misused" by the Russian infantry. The article also reported "that production in its Russian factories would be cut back due to disrupted supply chains and the halt of deliveries", and that it "anticipates suspending production completely in all its Russian factories, including its household-goods plant in St. Petersburg." Regarding the situation in Ukraine, its statement said, "war can never be the answer to political conflict".
Date of Announcement: 16 March 2022
Our Moral Verdict
Bosch wasn't serious about leaving Russia. That was bad enough, but it was able to hide in the same boat as other companies remaining in Russia. That safety-in-numbers game came to a crashing end when Ukrainian Foreign Minister Dmytro Kuleba claimed Bosch parts were found in Russian military vehicles. Bosch suddenly became not only a company failing to leave but allegedly also breaking EU sanctions. The company's response was pitiful. That would have been the moment to get out of Russia completely rather than keep options open with the regime when under so much scrutiny. The Announcement itself committed to ceasing supplies of truck components and added the company "anticipates suspending" production in Russia. The "anticipates" means it failed to get credit from us for that part, and the "suspending" would make it a Mothballer anyway. In terms of timing, even when Bosch did make a move, it was later than the rest of the sector, along with Bridgestone, and trailing other auto parts producers pulling out of Russia such as Tata Motors, Hyundai, Mazda, Magna, ZF Freidrichshafen, Continental, and Zhejiang Geely. For this it gets a Chicken Penalty. It also lost Speed points because it received criticism from the Ukrainian government before making its Announcement. This litany of deficiencies eroded its Moral Rating down to minus 4 points, which is the lowest rating given for a company that has left Russia.
Rating as of: 22 March 2022

Aviation Industry Corp. of China

State-owned conglomerate
China
Shameless failing to use its Power without having to make a sacrifice
i
-15

'Shameless' for continued involvement with Russia;'without having to make a sacrifice' for a 3 to below Exposure Score;'failing to use its Power' for a 4 to 10 in Power Score.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
10.0
Extreme Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0  Attitude
How?
An official at Russia's aviation authority said China refused to supply Russian airlines with aircraft parts after Western sanctions, as reported on Reuters. Multiple media reports show the Chinese state-owned aerospace and defense conglomerate have helicopter ventures in Russia.
Our Moral Verdict

We are rating this company based on ignoring any actions it took in response to Western sanctions governing aircraft parts which the company might have respected.

The company has deep ties with Russia on the development of helicopters and airline programs and we have seen no Announcement on these activities. It's hardly surprising. A Chinese state-owned aerospace company would not be able to take its own moral actions without government approval which would involve a change in government policy across the board.

Like many Chinese companies, its Russian Activities don't constitute too much Exposure, yet it wields a lot of Power. Since this falls into the aerospace and defense sector, and specifically because of the helicopter ventures, we assessed it at 10 in Power.

Rating as of: 1 May 2022

Axa

Public
France

Associated brands: Angel Risk Management Ltd, BROOKLYN, XL Insurance Company SE

Laggard Faint-hearted with great Attitude
i
6

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score.

Pre-invasion Status
1.8
Low Exposure
Potential sacrifice
1.0
De minimus Power
Potential economic impact
Post-invasion Events
0.7  Degree
What?
0.0  Speed
When?
7.0  Attitude
How?

AXA's Announcement showed it had stopped underwriting new insurance business and renewals for its Russian clients’ assets located in Russia. It also stopped new reinsurance, including renewals, as well as investments in Russian assets.

Regarding its 38% stake in Russian insurance company Reso Garantia, Axa stated it has "no operational or management control” and has decided to remove its directors from the board. The company stated it “condemns the invasion of Ukraine”.

Date of Announcement: 25 March 2022
Our Moral Verdict

Some companies take a long time to make a move but have a lot to offer when they do. Other companies are swift but do very little. Then, we have Axa, which did almost nothing slowly. Axa’s Announcement came after peers such as Generali, earning it a Chicken Penalty, and after public criticism, earning it a Pressure Penalty.

Axa's Degree score of 0.7 is about as low as you can get without doing nothing. We don’t give much credit for stopping new business, plus it did not take any action on its investment in Reso Garantia, apart from removing directors. Leaving the board may send a signal but it does nothing to damage the Russian economy. Axa should look to peer company Zurich, which is divesting totally from Russia. As for its promise to stop investments in Russian assets, how many companies with the understanding of risk that the insurance industry has would do such a thing in the current climate? We therefore class this statement as a Red Herring.

The irony of waiting so long to do so little is compounded by then making such a strong statement against Russia. For that, we define Axa as a Big Talker.

Axa and Generali are competitors in the market, but they are also competitors in the ‘moral market’, to such an extent that it is difficult to separate one from the other. Both curtailed their directly owned business in Russia with carve-outs (making them Nibblers in our terminology). Both failed to make any move out of their investments in minority stakes in Russian businesses. And both resigned from the boards of those companies, as though that somehow makes it okay. Both can be admonished for the same deficiencies in a single breath.

Rating as of: 20 May 2022

AXN

Rated as its parent Sony
Japan

Associated brands: Sony, Animax Broadcast Japan, MADHOUSE, Madison Gate Records, TriStar Pictures, Bravia, Cyber-shot, Handycam, IC Recorder, Memory Stick, Walkman

Laggard Faint-hearted Seriously-exposed with Power
i
22

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Pre-invasion Status
4.0
Average Exposure
Potential sacrifice
10.0
Extreme Power
Potential economic impact
Post-invasion Events
3.9  Degree
What?
2.0  Speed
When?
1.8  Attitude
How?
As a large and disparate conglomerate, Sony has a wide variety of business interests in Russia, and they have not been doing or saying the same things. Indeed, Sony Entertainment, for example, was criticized by the Ukrainian government for its Russian operations. In an official Announcement, a spokesperson for Sony Entertainment said it "will be pausing [its] planned theatrical releases in Russia." On 9 March, Sony Interactive said it "would cut off hardware shipments and software launches in Russia in light of the Russian government’s escalating hostilities", as reported by Tech Crunch. A day later, Sony Music Group said it had “suspended operations in Russia" but, by contrast, said it "calls for peace in Ukraine and an end to the violence".
Date of Announcement: 10 March 2022
Our Moral Verdict
This is a story with many 'Shades of Red' and a complex series of events to unravel. We monitored separate statements from three Sony units quite close in date and are treating them as one Announcement based on the date of the third, leading to a lower Speed Score but higher Degree Score. Sony's Announcement was Partial because we have no reports about it ceasing gold imports, nor curtailing its electronics exports. The areas of action were themselves Incomplete because Sony Pictures, Sony Music and Sony Interactive were all Mothballers. Combining the Incompleteness to the Partial produced 3.9 for Degree. The Leadership statement from Sony Music didn't take sides in the war and is classed as Mealy-Mouther, but Sony Interactive did take on Russia by ascribing the hostilities to its government. The average of these plus a small credit for a donation to Ukraine of only about 0.05% of profits produced 1.8 for Attitude. Sony's Speed Score was also eroded, first with a Chicken Penalty for being after Samsung Electronics and Honeywell, and further because it moved after Ukrainian government criticism of Sony Interactive inaction. The battery of Sony statements looks good on the surface, but the deficiencies on each led to a weak result. Sony needs to get all its divisions in one room, form a unified policy, move out of the remaining Activities and complete the withdrawal of the ones it has started.
Rating as of: 10 March 2022

Aygaz

Rated as its parent Koç Holding
Turkey

Associated brands: Koç Holding, Arçelik, Beko, Divan Group, Grundig, Otokar, Akpa A.Ş., Ark İnşaat, Birmot, Defy Appliances (Pty) Ltd, Demir-Export, Düzey, Elektra Bregenz, Flavel, Lipetgaz, Mogaz, Opet, Pürsu, RMK Marine, Sendeo, Setair, Setur, Setur Duty Free, Setur Marinas, Setur Select, Seturbiz.com, Seturmice, Tanı, THY Opet, Tofaş, Token Financial Technologies, Tüpraş, TürkTraktör, Yapı Kredi

Shameless without having to make a sacrifice
i
-5

'Shameless' for continued involvement with Russia;'without having to make a sacrifice' for a 3 to below Exposure Score.

Pre-invasion Status
2.0
Low Exposure
Potential sacrifice
1.0
De minimus Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?
Koç is linked to Russia via numerous subsidiaries, such as Arcelik and Tupras, which have local production facilities. We have not monitored any withdrawal Announcement.
Our Moral Verdict
Koç is Turkey’s only representative in Fortune’s Global Top 500 companies. It’s a shame, therefore, that it hasn’t even made it off the starting blocks in the world’s slow race to leave Russia. If it disposed of its Russian production facilities, it could rescue Turkey’s reputation in a single shot, from 0% failure to 100% success out of this sample of one.
Rating as of: 11 May 2022

Baker’s Source

Rated as its parent Sysco
USA

Associated brands: Sysco, Arrezzio, Block&Barrel, Buckhead Pride, Butcher's Block, Casa Solana, Citavo, Earth Plus, Fire River Farms, House Recipe, Jade Mountain, Newport Pride , Pica y Salpica, Portico Seafood, Wholesome Farm

Speedy Boycotter without Attitude
i
77

'Speedy' for a 7 to 8 Speed Score; 'Boycotter' for a 9 to 10 Degree Score; 'without Attitude' for a 0 in Attitude Score.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
1.0
De minimus Power
Potential economic impact
Post-invasion Events
10.0  Degree
What?
7.0  Speed
When?
0.0  Attitude
How?
Sysco has been an importer from Russia, with no other Activities. It reported that it is finding alternative suppliers in a clear statement of disconnection with Russia.
Date of Announcement: 17 March 2022
Our Moral Verdict
Not an interesting story. This giant company is only a small importer from Russia which was easily able to quit and switch its sourcing elsewhere. To its credit, it moved quite fast, and we gave it a Leader of Pack bonus for being ahead of its sector. We didn't spot any comment about Russia or the war, so it is classed as a Strong Silent Type. Nor did we see any contribution to Ukraine, so, combined with the statement silence, it ended with a zero Attitude Score. Anyway, it did get out and ahead of its peers.
Rating as of: 17 March 2022

Balay

Rated as its parent Bosch Group
Germany

Associated brands: Bosch Group, AutoCrew, Coldex, Constructa, Dremel, Dynacord, Electro-Voice, ETAS, Gaggenau, HC Cargo, Home Connect, ITK Engineering, Junkers, Neff, Pitsos, Profilo, Robinair, Telex, Thermador, Worcester Bosch, Zexel

Laggard Faint-hearted with Power
i
-4

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
9.5
Extreme Power
Potential economic impact
Post-invasion Events
0.1  Degree
What?
1.0  Speed
When?
5.0  Attitude
How?
Bosch was reported by Bloomberg to have "halted deliveries of truck components to Russian customers" as parts "may have been misused" by the Russian infantry. The article also reported "that production in its Russian factories would be cut back due to disrupted supply chains and the halt of deliveries", and that it "anticipates suspending production completely in all its Russian factories, including its household-goods plant in St. Petersburg." Regarding the situation in Ukraine, its statement said, "war can never be the answer to political conflict".
Date of Announcement: 16 March 2022
Our Moral Verdict
Bosch wasn't serious about leaving Russia. That was bad enough, but it was able to hide in the same boat as other companies remaining in Russia. That safety-in-numbers game came to a crashing end when Ukrainian Foreign Minister Dmytro Kuleba claimed Bosch parts were found in Russian military vehicles. Bosch suddenly became not only a company failing to leave but allegedly also breaking EU sanctions. The company's response was pitiful. That would have been the moment to get out of Russia completely rather than keep options open with the regime when under so much scrutiny. The Announcement itself committed to ceasing supplies of truck components and added the company "anticipates suspending" production in Russia. The "anticipates" means it failed to get credit from us for that part, and the "suspending" would make it a Mothballer anyway. In terms of timing, even when Bosch did make a move, it was later than the rest of the sector, along with Bridgestone, and trailing other auto parts producers pulling out of Russia such as Tata Motors, Hyundai, Mazda, Magna, ZF Freidrichshafen, Continental, and Zhejiang Geely. For this it gets a Chicken Penalty. It also lost Speed points because it received criticism from the Ukrainian government before making its Announcement. This litany of deficiencies eroded its Moral Rating down to minus 4 points, which is the lowest rating given for a company that has left Russia.
Rating as of: 22 March 2022

Band LTE

Rated as its parent SK Group
South Korea

Associated brands: SK Group, Nate, NUGU, United Object

Shameless failing to use its Power without having to make a sacrifice
i
-10

'Shameless' for continued involvement with Russia;'without having to make a sacrifice' for a 3 to below Exposure Score;'failing to use its Power' for a 4 to 10 in Power Score.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
5.0
Average Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?

SK Group is a South Korean conglomerate, and the second-largest chaebol in the country, with 186 subsidiaries. It exports to Russia via SK Lubricants and imports Russian crude via SK Incheon.

Ten days after the invasion, SK pledged $1 million to Ukraine saying, "Under our philosophy of seeking social values, we opted to take instant steps of providing humanitarian aid to children". We have not identified an Announcement that covers its Activities in Russia.

Our Moral Verdict
SK failed to disclose its commercial position on Russia, despite making a financial contribution to help children in Ukraine. This large importer of crude should make an Announcement that clarifies it will cut its importing as well as exports of lubricants that it is engaged in. It is not sufficient for a company to disclose altruistic actions if it is feeding the engine that creates their need. We call this an Immoral Vicious Cycle by a Do-gooder-do-badder. The company has more Power over Russia than Exposure. It's looking at a 500% Return on Sacrifice, which makes its failure to Announce all the more disappointing.
Rating as of: 4 May 2022

BANDAG

Rated as its parent Bridgestone
Japan

Associated brands: Bridgestone, FIRESTONE, FUZION, TIRES PLUS, WHEEL WORKS, Alenza, Blizzak, DriveGuard, Dueler, Turanza

Laggard Near-Boycotter
i
58

'Laggard' for a 0 to 5 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score.

Pre-invasion Status
2.0
Low Exposure
Potential sacrifice
1.0
De minimus Power
Potential economic impact
Post-invasion Events
8.0  Degree
What?
4.0  Speed
When?
4.0  Attitude
How?
It made an Announcement on 14 March that it would stop "all exports to Russia with immediate effect", and is "suspending" manufacturing activities in Russia "until further notice", a decision that took effect from 18 March. The company also decided to "freeze any new investments". The statement also said it will continue to financially support its employees in its "passenger tire production plant in Ulyanovsk and sales offices."
Date of Announcement: 14 March 2022
Our Moral Verdict
Bridgestone was at the back of the pack of auto parts producers pulling out of Russia, along with Bosch. It trailed companies such as Tata Motors, Hyundai, Mazda, Magna, ZF Freidrichshafen, Continental, and even Chinese producer Zhejiang Geely. So it was awarded a Chicken Penalty. Under our rating rules, freezing new investments is considered a Red Herring. Anyone would be crazy to be investing in Russia today. Anyway, we are interested in existing businesses being stopped rather than things that haven't happened not happening! Suspending production until further notice doesn't make the grade – and continuing to support employees makes the Announcement doubly incomplete, the former making Bridgestone a Mothballer and the latter making it a Nibbler. Moreover, the company's statement about the war didn't admonish Russia enough, so it was also classified as a Mealy-Mouther. Bridgestone needs to pull out of Russia properly and not leave us in limbo any longer.
Rating as of: 18 March 2022

Bank Handlowy

Rated as its parent Citigroup
USA

Associated brands: Citigroup, Metalmark Capital

Laggard Faint-hearted
i
16

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score.

Pre-invasion Status
2.0
Low Exposure
Potential sacrifice
3.0
Low Power
Potential economic impact
Post-invasion Events
2.0  Degree
What?
2.0  Speed
When?
2.5  Attitude
How?
Prior to the invasion, according to Reuters, Citi said it had "already planned to exit its Russia consumer business". On 14 March, it said it would “expand the scope” of its exit to include other lines of business and “continue to reduce” its remaining operations and presence. Edward Skyler, the Executive Vice President for Global Public Affairs, added that Citi will "stop soliciting any new business or clients". The company described the situation in Ukraine as “utterly heart-breaking”. On 31 May, the bank said it may retain its Russian banking licence despite its earlier statements.
Date of Announcement: 14 March 2022
Our Moral Verdict

Reading what banks have done about Russia is like playing a game of ‘Spot the Difference’. JPMorgan said it would be “unwinding” its Russian business, Goldman Sachs said it would be “winding down”. These two parrots said almost the same thing on the same day. Then, three others followed the parrots like sheep out of Russia, half-heartedly: Citi gave the excuse of “new business or clients”, HSBC “new business or customers” and BNP “any new business”. Either they must think the same way or be using the same PR strategist. These excuses make them all Nibblers.

Similarities aside, Citi’s statement was too vague to get many points from us. When will it finish the process of reducing its remaining operations? Its later statement that it may keep its Russian banking license alive makes its exit from Russia look less convincing. Against this picture, describing the invasion as ‘utterly heart-breaking’ forces us to classify Citi as a Big Talker. Breaking a moral boycott is itself heart-breaking.

Banding together with peers is worse than Citi misbehaving on its own. This adds to the contagion effect which is why we give Leader of the Pack bonuses to discourage sheeplike behavior. Besides, safety in numbers may seem like a clever strategy until you’re exposed as being in the doghouse, which is how we rate this bunch of banks. We are calling them all out for not getting out properly.

Citi should break ranks, burn its banking license, and get credit for launching a Domino Effect on the rest of the flock.

Rating as of: 31 May 2022
1 … 5 6 7 8 9 … 72

OUR MORAL BADGES

Each of Moral Rating Agency’s Moral Badge is generated by combining words we select to describe bands within each of the five dimension scores to allow a reader to see the components of a company’s behavior in linguistic form. The bands relating to each word or words are shown in the definition of each Moral Badge below.

How do we classify a company or organization?

Moral Badges

Description

Companies & Brands

Count

Sprinting Boycotter with Power

'Sprinting' for a 9 to 10 Speed Score; 'Boycotter' for a 9 to 10 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Acacia Communications, Inc., ACDELCO, Albuquerque Studios, Boss Flight Entertainment, BUICK, CADILLAC, CHEVROLET, Cisco Systems, Deutsche Telekom, Duo Security Inc., General Motors, GMC, GMFINANCIAL, Jasper Technologies, Meraki, Millarworld, Netflix, Night School Studio, ONSTAR., Scanline VFX, T-Mobile, Ultium, Vehicle Intelligence Platform

Count: 

23

Sprinting Boycotter

'Sprinting' for a 9 to 10 Speed Score; 'Boycotter' for a 9 to 10 Degree Score.

Companies/Brands:  British Gas, Centrica, Direct Energy, Dyno, Hive, Local Heroes

Count: 

6

Sprinting Near-Boycotter with great Attitude & Power

'Sprinting' for a 9 to 10 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  United Parcel Service, UPS Logistics

Count: 

2

Sprinting Near-Boycotter with Power

'Sprinting' for a 9 to 10 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  FedEx

Count: 

1

Sprinting Near-Boycotter without Attitude but with Power

'Sprinting' for a 9 to 10 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Blue Yonder, JVC, Kawakita Denki Kigyosha, National, Panasonic, Quasar, Sanyo Electric Co., Ltd., Technics

Count: 

8

Sprinting Half-hearted Seriously-exposed with great Attitude & Power

'Sprinting' for a 9 to 10 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  API Connect, Aspera, Atlas, Blueworks Live, CICS, Cloud Pak, Cloudant, Cognos Inc, International Business Machines, Red Hat Inc., SoftLayer Technologies Inc.

Count: 

11

Sprinting Half-hearted Seriously-exposed with Power

'Sprinting' for a 9 to 10 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Genesis, Hyundai Motor

Count: 

2

Sprinting Half-hearted

'Sprinting' for a 9 to 10 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score.

Companies/Brands:  HomeGoods, HomeSense, Marshalls, Sierra, TJX, TK Maxx, Winners

Count: 

7

Speedy Boycotter without Attitude

'Speedy' for a 7 to 8 Speed Score; 'Boycotter' for a 9 to 10 Degree Score; 'without Attitude' for a 0 in Attitude Score.

Companies/Brands:  Arrezzio, Baker’s Source, Block&Barrel, Buckhead Pride, Butcher’s Block, Casa Solana, Citavo, Earth Plus, Fire River Farms, House Recipe, Jade Mountain, Newport Pride, Pica y Salpica, Portico Seafood, Sysco, Wholesome Farm

Count: 

16

Boycotter with great Attitude & Power

'Boycotter' for a 9 to 10 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Alphabet, Calico, DoubleClick, Fitbit, Google, Looker, Loon, Nest, Verily, Waymo LLC, Waze, Wing, YouTube

Count: 

13

Boycotter with Power

'Boycotter' for a 9 to 10 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Acura, Alphabet, ASIMO, BMW Group, Designworks., Honda Motor, John Cooper Works, MINI, Mobilityland, Montesa, Rolls-Royce Motor Cars

Count: 

11

Boycotter without Attitude but with Power

'Boycotter' for a 9 to 10 Degree Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  AT&T Broadband, Bravo, Chiller, CNBC, Comcast, Daily Candy, DreamWorks Animation, Fandango, Focus Features, G4, Illumination Entertainment, iVillage, Msnbc, NBCUniversal, Sky, Sprout, Syfy, XUMO

Count: 

18

Sprinting Faint-hearted Seriously-exposed with Power

'Sprinting' for a 9 to 10 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Bond Street, Chesterfield, Diem, Facebook, Instagram, IQOS, L&M, Mapillary, Marlboro, Messenger, Meta (formerly Facebook), Muratti, Oculus, Parliament, Philip Morris International, TotalEnergies, WhatsApp, Workplace

Count: 

18

Sprinting Faint-hearted with Power

'Sprinting' for a 9 to 10 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Freightliner, Fuso, Maybach, Mercedes-Benz (formerly Daimler), Setra, Smart, Sterling, Thomas Built Buses, Western Star

Count: 

9

Speedy Near-Boycotter Sacrificer with Power

'Speedy' for a 7 to 8 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score; 'Sacrificer' for a 4 to 8 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  AdGear, Harman International Industries, Joyent, LoopPay , Novaled , Prismview, Proximal Data, Samsung, Simpress, SmartThings 

Count: 

10

Speedy Faint-hearted Seriously-exposed with great Attitude & Power

'Speedy' for a 7 to 8 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Amoco, Ampm, Aral, BP, Castrol, Wild Bean Café

Count: 

6

Speedy Faint-hearted with Power

'Speedy' for a 7 to 8 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Align, All Good, Always, Ambi Pur, Amerisource Bergen, Anderson Packaging, Inc., Ariel, ASD Specialty Healthcare, Inc., Aussie, Bold, Bonux, Bounce, Bounty, Braun, Cascade, Charlie Banana, Charmin, Cheer, Clearblue, Crest, Daz, Downy, Dreft, Fairy, Fairy Non Bio, Febreze, Fixodent, Flash, Gain, Gillette, Head & Shoulders, Herbal Essences, Ivory, joy+glee, Lenor, Luvs, Metamucil, Microban 24, Mif, Mr.Clean, My black is beautiful, Nasivin, Native, Neurobion, New Chapter dietary supplements, Olay, Old Spice, Oral-B, Pampers, Pantene, Pepto-Bismol, Procter & Gamble, Puffs, Rindex 3en1, Safeguard, Salvo, Sangobion, Scope, Seven Seas, SK-II, Snowberry, Swiffer, Tampax, The Art of Shaving, This is L., UltraDowny, Venus, Viakal, Vicks, Zevo, ZzzQuil

Count: 

71

Near-Boycotter with Power

'Near Boycotter' for a 7 to 8 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Deutsche Post DHL Group

Count: 

1

Faint-hearted Seriously-exposed without Attitude but with Power

'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Airbus, ATR (Airbus, Alenia Aeronautica, Leonardo), Daihatsu, Hino, Lexus, Ranz, Stelia Aerospace, Toyota Motor

Count: 

8

Faint-hearted with great Attitude & Power

'Faint-hearted' for a 1 to 4 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Bing, Edge, LinkedIn, Microsoft, MSN, Office, Skype, Windows

Count: 

8

Laggard Boycotter with great Attitude & Power

'Laggard' for a 0 to 5 Speed Score; 'Boycotter' for a 9 to 10 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Accenture, Droga5, IMJ Corporation, SinnerSchrader, Trivadis AG

Count: 

5

Laggard Boycotter with Power

'Laggard' for a 0 to 5 Speed Score; 'Boycotter' for a 9 to 10 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  alkove, Amazing Baby, Amazon, Amfit Nutrition, Arabella, Arthur Harvey, Basic Care, BELEI, Buttoned Down, Cable Stitch, Coastal Blue, Comfort Denim Outfitters, Daily Ritual, Ella Moon, Emma Riley, Eono, Fabric.com, Franklin Tailored, Goodthreads, Happy Belly, Haven Outerwear, House & Shields, Inkast Denim, Iris & Lily, James & Erin, Lark & Ro, Life Long, Mae, Mama Bear, Movian, Myx Store, NuPro, OWN PWR, Peak Performance Nutrition, Peak Velocity, Pinzon, Presto!, Ravenna Home, Revly, Scout & Ro, Simple Joys by Carter’s, Solimo, Spotted Zebra, Stone & Beam, Tiksounds, Umi, Vedaka, Wag, Wickedly Prime

Count: 

49

Laggard Near-Boycotter with Power

'Laggard' for a 0 to 5 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Glencore

Count: 

1

Laggard Near-Boycotter

'Laggard' for a 0 to 5 Speed Score; 'Near Boycotter' for a 7 to 8 Degree Score.

Companies/Brands:  Alenza, BANDAG, Blizzak, Bridgestone, DriveGuard, Dueler, FIRESTONE, FUZION, TIRES PLUS, Turanza, WHEEL WORKS

Count: 

11

Laggard Faint-hearted (Upgraded with 20 bonus points for exiting fully and completely)

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score.

Companies/Brands:  Enel

Count: 

1

Laggard Half-hearted Seriously-exposed with Power

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  LG Electronics

Count: 

1

Laggard Half-hearted with great Attitude & Power

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Alimentation Couche-Tard, Circle K, Collins Aerospace, Ingo, Pratt & Whitney, Raytheon Technologies

Count: 

6

Laggard Half-hearted with great Attitude

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 5 to 6 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score.

Companies/Brands:  Amundi, BforBank, Credit Agricole, IDIA Capital Investment, LCL, SODICA Corporate Finance

Count: 

6

Laggard Half-hearted with Power

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 5 to 6 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  U.S. Postal Service

Count: 

1

Laggard Half-hearted with Power

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Chassis Brakes, Hikoki, Hitachi, Hüco, Keihin, Kit Plus, Maxell, Nisin, Paraut, Tokico, Tuflong

Count: 

11

Laggard Half-hearted without Attitude but with Power

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 1 to 4 Degree Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Elster Group, EMS Technologies, Inc., Honeywell International, Intelligrated, Intermec, King’s Safetywear, RAE Systems, Sperian Protection, Xtralis

Count: 

9

Speedy Faint-hearted without Attitude but with Power

'Speedy' for a 7 to 8 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Bank of China

Count: 

1

Faint-hearted

'Faint-hearted' for a 1 to 4 Degree Score.

Companies/Brands:  Alleanza Toro, Assicurazioni Generali, Europ Assistance Group, INA (Istituto Nazionale delle Assicurazioni)

Count: 

4

Laggard Half-hearted

'Laggard' for a 0 to 5 Speed Score; 'Half-hearted' for a 5 to 6 Degree Score.

Companies/Brands:  Cover-More, Farmers Insurance Group, Hambro Life Assurance Plc, Zurich Insurance Group

Count: 

4

Laggard Faint-hearted Seriously-exposed with great Attitude & Power

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score; 'with great Attitude' for a 6 to 10 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  AcneFree, Ambi, Atelier Cologne, Biotherm, Botanicals Fresh Care, Cacharel, Carita, Carol’s Daughter, CeraVe, Cheryl’s Cosmeceuticals, Clarisonic, Créateurs de Beauté, Dark & Lovely, Decléor, Dermablend, Diesel, E.ON, essie, Garnier, Giorgio Armani Beauty, Helena Rubinstein, House 99, IT Cosmetics, Kéraskin Esthetics, Kérastase, Kiehl’s, L’Oréal, La Roche-Posay, Lancôme, Logocos, Magic Mask, Maison Margiela Fragrances, Matrix Essentials, Maybelline New York, Mixa, Mizani, Niely, NYX Professional Makeup, Paloma Picasso, PureOlogy Research, Ralph Lauren Fragrances, Redken 5th Avenue NYC, Roger & Gallet, Sanoflore, Shu Uemura, Skinceuticals, SoftSheen-Carson, Stylenanda, Urban Decay, Valentino Beauty, Vichy, Yue Sai, Yves Saint Laurent Beauty

Count: 

53

Laggard Faint-hearted Seriously-exposed with Power

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score;'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  Abbott Laboratories, Alinity, Animax Broadcast Japan, AXN, BinaxNOW, Bravia, Cardiomems, Confirm Rx, Cyber-shot, Ele Care, Ensure, Fortum, FreeStyle Libre, Gallant ICD, Glucerna , Handycam, Heartmate, i-STAT, Juven, MADHOUSE, Madison Gate Records, Memory Stick, MitraClip, Pedialyte, PediaSure, Proclaim DRG, Similac, Sony, TriStar Pictures, Walkman, Zone Perfect

Count: 

31

Laggard Faint-hearted Seriously-exposed without Attitude but with Power

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'Seriously exposed' for a 4 to 10 Exposure Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  HiSilicon, Huawei Investment & Holding, Proven Honour Capital Limited

Count: 

3

Laggard Faint-hearted with great Attitude

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with great Attitude' for a 6 to 10 in Attitude Score.

Companies/Brands:  Angel Risk Management Ltd, Axa, BROOKLYN, Dunlop , Srixon, Sumitomo, XL Insurance Company SE

Count: 

7

Laggard Faint-hearted

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score.

Companies/Brands:  Adfors, Allianz, Artex, Asturienne, Bank Handlowy, Bank One Corp, Bevego, BNP Paribas, Brasilit, British Gypsum, Brødrene Dahl, Cazenove Group, Celotex, Certainteed, Chatham Ventures, Inc., Chemical Equity Incorporated, Citigroup, CONSORSBANK, Creekstone Farms Premium Beef, Euler Hermes, Flexovit, Gavilon, Glassolutions, Gyproc, Helena Agri Enterprises LLC, InstaMed, Isover, Jewson, JP Morgan, Leca, Marubeni, Marubeni Information Systems, Metalmark Capital, Norton, Pasquill, PIMCO, Placo, Rencol, Rigips, SageGlass, Saint-Gobain, Scotframe, Sekurit, SmartestEnergy, The Bear Stearns Companies Inc., Tygon, Vetrotech, Washington Mutual Inc., Weber, WePay

Count: 

50

Laggard Faint-hearted without Attitude but with Power

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'without Attitude' for a 0 in Attitude Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  CK Hutchison Holdings, Hutch, ICI Paric XL, Kruidvat, Metro Broadcast Corporation, Mr. Juicy, ParknShop, Savers, Superdrug, The Perfume Shop, Three, Watsons, Watsons Water, Watsons’s Wine, Wind Tre

Count: 

15

Laggard Faint-hearted with Power

'Laggard' for a 0 to 5 Speed Score; 'Faint-hearted' for a 1 to 4 Degree Score; 'with Power' for a 4 to 10 in Power Score.

Companies/Brands:  AutoCrew, Balay, Bosch Group, Coldex, Constructa, Dremel, Dynacord, Electro-Voice, ETAS, Gaggenau, HC Cargo, Home Connect, ITK Engineering, Junkers, Neff, Pitsos, Profilo, Robinair, Telex, Thermador, Worcester Bosch, Zexel

Count: 

22

Shameless failing to use its Power without having to make a sacrifice

'Shameless' for continued involvement with Russia;'without having to make a sacrifice' for a 3 to below Exposure Score;'failing to use its Power' for a 4 to 10 in Power Score.

Companies/Brands:  A Twosome Place, Agricultural Bank of China, Aviation Industry Corp. of China, Band LTE, Baojun, Bestune, BLADE Network Technologies, Century 21 Japan, Chateau de Viaud, ChemChina, China Communications Construction, China Construction Bank, China Construction Design International, China FAW Group, China Harbour Engineering, China Mobile Communications, China National Offshore Oil, China National Petroleum, China Overseas Land and Investment, China Railway Construction, China Railway Engineering Group, China Road and Bridge Corporation, China State Construction Engineering, China Tea, China Telecommunications, CITIC Group, CJ Corp., CMHK, CMLink, COFCO, Country Garden Holdings, DFI Retail Group, DOCOMO, Dongfeng Motor, Epic Games, FamilyMart, Foodville, Fortune, Foxmail, GAC-FCA (Jeep), GAC-Honda, GAC-Mitsubishi, GoTone, Greatwall, Grohmann Engineering GmbH, Guangzhou Automobile Industry Group, Haima, Hibar Systems Ltd., Hongqi, Hunting World, Hycan, IdeaPad, Industrial & Commercial Bank of China, Itochu, Jardine Matheson, JD.com, Jiefang, Jiugui, John Holland Group, Joy City, Joycome, Kong Yiji, Legion, Lenovo Group, LeSportsac, Machete, Mandarin Oriental Hotel Group, Maxus, Maxwell Technologies Inc., Medion, Mengniu Dairy, MG, Moment, Motorola Mobility, Nate, Nippon Telegraph and Telephone, NUGU, People’s Insurance Co. of China, Perbix Machine Co. Inc., PetroChina, Qidian, QQ, Qrobot, Roewe, SAIC Motor, Sinochem, SK Group, SolarCity Corp, Tencent Holdings, Tesla, ThinkPad, Tianyi, Timi Studio Group, Tokyo Electric Power, Trumpchi, United Object, VIPS (steakhouse), Wechat (Weixin), WeGame, WOMAI.COM, Xiamen ITG Holding Group, XMXYG, Yoga, Yuejin, Zong

Count: 

105

Shameless without having to make a sacrifice

'Shameless' for continued involvement with Russia;'without having to make a sacrifice' for a 3 to below Exposure Score.

Companies/Brands:  Ahumada, Akpa A.Ş., Arçelik, Ark İnşaat, Aygaz, Bank of America, Beko, Benavides, Birmot, Catlettsburg Refining, LLC, CNH Industrial, Defy Appliances (Pty) Ltd, Demir-Export, Divan Group, Duane Reade, Düzey, Elektra Bregenz, EXOR Group, Ferrari, Flavel, Grundig, Japan Post Holdings, Koç Holding, Lipetgaz, Marathon Petroleum, Merrill Lynch, Mogaz, No. 7, Opet, Otokar, PartnerRe, Pürsu, RMK Marine, S-Oil, SABIC , Saudi Aramco, Sendeo, Setair, Setur, Setur Duty Free, Setur Marinas, Setur Select, Seturbiz.com, Seturmice, Soltan and Botanics, Tanı, The Economist, The International Maritime Industries, THY Opet, Tofaş, Token Financial Technologies, Toll Group, Tüpraş, TürkTraktör, Walgreens Boots Alliance, Waltrust Properties, Inc., Yapı Kredi, Yasref

Count: 

58

Shameless failing to use its power

'Shameless' for continued involvement with Russia;'failing to use its Power' for a 4 to 10 in Power Score.

Companies/Brands:  Alibaba Group Holding, AliExpress, Ant Financial, Auctiva, Cainiao, DingTalk, Feizhu, Gaode Map, Koubei, Lazada, Sinopec Group, Taobao, Tmall, UC Browser, Xianyu, Zhima Credit

Count: 

16

Total:

719

Total: 719

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