Moral Rating Agency

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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Xiamen ITG Holding Group

State-owned
China
Shameless failing to use its Power without having to make a sacrifice
i
-9

'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
4.3
Average Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?
Xiamen ITG imports Russian commodities such as wood and coal. We have not identified an Announcement.
Our Moral Verdict

It is disappointing not to see an Announcement from a company able to tell investors that Russia doesn’t constitute a major part of its business. Peer Chinese company Sinochem is at least rumored to be avoiding Russian oil, despite having a greater Exposure.

We don’t expect much from Chinese companies, but even a rumor from Xiamen ITG would be nice, even if it isn’t allowed to speak directly to the world.

Rating as of: 11 May 2022

Xianyu

Rated as its parent Alibaba Group Holding
China

Associated brands: Alibaba Group Holding, AliExpress, Lazada, Taobao, Tmall, Ant Financial, Auctiva, Cainiao, DingTalk, Feizhu, Gaode Map, Koubei, UC Browser, Zhima Credit

Shameless failing to use its power
i
-13

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

Pre-invasion Status
3.8
Average Exposure
Potential sacrifice
10.0
Extreme Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?
The company classifies its activities in Russia as an investment, called AliExpress Russia (a joint venture, of which it owns 48%). AliExpress Russia currently controls about 10% of Russia's e-commerce market. Nikkei Asia first reported via an "employee with knowledge on the matter" that "its joint venture in Russia has laid off about 40% of employees since the invasion of Ukraine". This is believed to be a result of Western sanctions' impact on the Russian market, leaving these positions untenable for the company.
Our Moral Verdict
We were not sure whether we should compare Alibaba morally with Amazon, to show the contrast, or with fellow-Chinese company JD.com, to show the moral similarity. One is a comparison of apples and oranges and the other a comparison of two rotten apples. Comparing a company from a democracy with one from a totalitarian state is dramatic but perhaps obvious. We will look at Alibaba both ways. Amazon is one of a handful of companies in the world that has been able to get out of Russia completely. We graded it Full & Complete twelve days after the invasion. Alibaba is at the opposite end of the spectrum. It's a pity that the two companies don't have the same customers because the moral difference might win Amazon a lot of new users. Like JD.com, Alibaba operates in Russia with its strong local partner, with Alibaba owning 48% in AliExpress. Both JD.com and Alibaba ship Chinese and foreign goods into Russia from their own China-based platforms. Both have the Chinese government as cover for their inactions and both stand to gain from Russia's increasing dependence on trade with China. Indeed, we could say one is copying the other, were it not for the fact that inaction has no date to show which failed to act first. The only difference we see is in Exposure level. Alibaba's 48% stake in AliExpress is worth $3.2bn (1.25% of Alibaba's own market value), which translates to a 3.8 Exposure Score. This compares to JD's Exposure level of 2. So, mathematically, we can say that Alibaba is 75% less likely, or at least less motivated, to leave Russia. Unless of course one chooses to be more moral than the other!
Rating as of: 13 May 2022

XL Insurance Company SE

Rated as its parent Axa
France

Associated brands: Axa, Angel Risk Management Ltd, BROOKLYN

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

XMXYG

State-owned
China
Shameless failing to use its Power without having to make a sacrifice
i
-9

'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
4.0
Average Power
Potential economic impact
Post-invasion Events
0.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?
XMXYG has been a major importer of Russian coal, and, since the invasion, it indicated on a Chinese platform that a small proportion of its business is in Russia. No withdrawal Announcement has been monitored.
Our Moral Verdict

It is disappointing that the company can make a statement that it isn’t highly exposed to Russia but, at the same time, not say what it will or won’t actually do. Peer Chinese company Sinochem is at least rumored to be avoiding Russian oil, despite having greater Exposure than XMXYG.

We don’t expect much from Chinese companies, but, even if XMXYG isn’t allowed to speak directly to the world, a rumor is always welcome.

Rating as of: 11 May 2022

Xtralis

Rated as its parent Honeywell International
USA

Associated brands: Honeywell International, Elster Group, EMS Technologies, Inc., Intelligrated, Intermec, King’s Safetywear, RAE Systems, Sperian Protection

Laggard Half-hearted without Attitude but with Power
i
40

'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.

Pre-invasion Status
3.0
Low Exposure
Potential sacrifice
8.0
High Power
Potential economic impact
Post-invasion Events
4.8  Degree
What?
5.0  Speed
When?
0.0  Attitude
How?
The company said it had "suspended substantially all" of its "sales, distribution and service activities in Russia and Belarus" referring to "conditions" in Eastern Europe. It also said it hoped to see a "peaceful resolution", and its thoughts were with the "refugees".
Date of Announcement: 8 March 2022
Our Moral Verdict
Honeywell's statement included three words, "suspended substantially all", to describe its withdrawal from Russia, attaching them to some business categories covered. From this, we can't be sure exactly what is going on (for example the status of its manufacturing activities and investments in the country), but we can say that some businesses have been carved out, which makes it a Partial move. Also, suspending puts it into the Mothballer category. The company lost points on Speed because of a Chicken Penalty for being behind Samsung Electronics. It also got a zero score on Attitude: the reason for its action didn't directly admonish Russia or properly address the issue, and we didn't monitor any donation to Ukraine. It gets a lot of Power from being in a sector with high impact, on top of employing 1,000 people in Russia. We hope Honeywell will get out fully and completely, and be more clear on its business dealings with Russia.
Rating as of: 14 March 2022

XUMO

Rated as its parent Comcast
USA

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

Boycotter without Attitude but with Power
i
65

'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.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
10.0
Extreme Power
Potential economic impact
Post-invasion Events
8.7  Degree
What?
6.0  Speed
When?
0.0  Attitude
How?
According to Universal's company statement, Comcast-owned Universal Pictures, "paused planned theatrical releases in Russia." The next day, Russia lost its retransmission on the Sky platforms that are owned by Comcast, as reported by Broadband TV News. On March 8th, Universal Music Group, owned by Comcast, said via a company statement that it was "suspending all operations in Russia and closing [its] offices there." Comcast Business also said that it is "waiving charges for calls, data, and Global Travel Pass usage to and from Ukraine" for customers from 20 February to 31 May.
Date of Announcement: 1 March 2022
Our Moral Verdict
Comcast's Announcement was Full and almost Complete, which is why it didn't get a 10 in Degree. It was quite fast to make its move, but other peers got out first, resulting in 6 for Speed. The company fell behind on Attitude. We didn't spot a statement about the war, so we classed it as a Strong Silent Type. Nor did we monitor any donation to help Ukraine. All of these factors eroded its Moral Rating and brought it down to 65. Breaking with Russia was a good moral-commercial move to make. We calculated the Exposure across the different businesses at 1 compared to the 10 it had in Power. We give mass market entertainment channels and services credit for a high Multiplier Effect because of their Ostracizing impact on large numbers of people locally. The result is that Comcast was looking at a 10 to 1 Return on Sacrifice opportunity and it's no surprise that it made the decision to get out.
Rating as of: 8 March 2022

Yapı Kredi

Rated as its parent Koç Holding
Turkey

Associated brands: Koç Holding, Arçelik, Beko, Divan Group, Grundig, Otokar, Akpa A.Ş., Ark İnşaat, Aygaz, 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

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

Yasref

Rated as its parent Saudi Aramco
Saudi Arabia

Associated brands: Saudi Aramco, S-Oil, SABIC , The International Maritime Industries

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

Saudi Aramco relies on extraction technologies from Russian Novomet, in which it has a 31% stake. Aramco is 98.5%-owned by Saudi Arabia. According to the Financial Times, its energy minister signaled on 22 May that it would stand by Russia as a member of OPEC+ and said the “world should appreciate the value” of the producers’ alliance.

Saudi Aramco itself has not made any withdrawal Announcement, but CEO Amin Nasser described the invasion as a "tragic situation unfolding in Ukraine”.

Our Moral Verdict

We have given Aramco a low rating for keeping its Novomet stake because our ratings are based on withdrawing from existing business with Russia. However, if our methodology extended to what damage a company could do beyond withdrawing its own business, we would deduct a further 100 points in this case: Aramco – subject of course to the permission of the Saudi kingdom – could have stopped the oil price raise that is helping Russia offset the impact of boycotts and sanctions that we are advocating. Few companies in the world could so powerfully close the loop on Russia.

If anyone thinks this is beyond its power or without precedent, don’t forget that Saudi Arabia used such a strategy to try and put the U.S. shale industry out of business in 2014.

It’s sad that Aramco uses such power for profit and not morality. Indeed, the regime that controls the company and is accused of being behind the murder of a dissident journalist in its Istanbul embassy, is hardly one from which we can expect any moral satisfaction. Asking Prince Mohammed Bin Salman to find Putin abhorrent would be like asking him to engage in hypocrisy. It looks like Aramco isn’t going to be the secret bullet to undermine the Russian economy.

Rating as of: 22 May 2022

Yoga

Rated as its parent Lenovo Group
China

Associated brands: Lenovo Group, BLADE Network Technologies, Medion, Motorola Mobility, IdeaPad, Legion, ThinkPad

Shameless failing to use its Power without having to make a sacrifice
i
0

'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
8.0
High Power
Potential economic impact
Post-invasion Events
2.0  Degree
What?
0.0  Speed
When?
0.0  Attitude
How?
There are conflicting media reports about whether Lenovo, which owns Motorola, is still operating in Russia. Belarusian media outlet Nexta tweeted that Lenovo “suspended shipments of products to Russia." On 6 May, the Wall Street Journal said the company had quietly left the Russian market.
Date of Announcement: 6 May 2022
Our Moral Verdict
This is the strange case of a Chinese company that has apparently made some effort to withdraw from Russia. Less strange, is that the company said very little. We don't give companies much credit for actions they are not disclosing themselves where we need to rely solely on indirect reports from the field or third parties (only 2 points in Degree are applicable). It is rated based on a Wall Street Journal report in May that the company had quietly withdrawn. As a result, it gets low Degree and Speed scores. Moreover, for remaining quiet and disclosing no donation to Ukraine, it gets 0 for Attitude. All of this produced a 0 moral rating. It has a lot of Power in Russia leading to an 800% Return on Sacrifice based on its de minimus Exposure. So, it is a pity the way the company decided to take action undermined its moral rating: it would have been nice to report that Lenovo was leading Chinese corporations in a moral direction in terms of transparency, speed and spirit. That said, it has a major Strategic Disturbance effect. When even Chinese companies start withdrawing, albeit discreetly, it can't go unnoticed by Putin.
Rating as of: 6 May 2022

YouTube

Rated as its parent Alphabet
USA

Associated brands: Alphabet, Calico, DoubleClick, Fitbit, Google, Looker, Loon, Nest, Verily, Waymo LLC, Waze, Wing

Boycotter with great Attitude & Power
i
78

'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.

Pre-invasion Status
1.0
De minimus Exposure
Potential sacrifice
10.0
Average Power
Potential economic impact
Post-invasion Events
10.0  Degree
What?
6.0  Speed
When?
5.5  Attitude
How?
Google first paused ads from state-funded Russian entities on 28 February, before pausing all Russian ads a few days later (3 March). It is also part of initiatives to help war-afflicted Ukrainians, such as rolling out a rapid Air Raid Alerts system for Android phones in Ukraine, helping those affected get to safety. It has not removed Russian access to free services (such as Google search and Youtube), and this is in alignment with the idea that big tech corporations can help to prevent the spread of misinformation and Russian propaganda. These actions were in response to the Russian "invasion" of Ukraine, which it described as "a tragedy".  Bloomberg also reports it operates an office in Russia, whose staff have been relocated (mostly to Dubai, where the company has a large presence).
Date of Announcement: 3 March 2022
Our Moral Verdict

The contrast between Alphabet's Google and Meta's Facebook is brought alive by our rating rules being imposed on both of their stories. Both companies look like they are doing a lot, but Alphabet comes out as the clear moral winner. Both companies quickly decided to cut advertising from Russian state media. Meta basically left it at that. Alphabet, however, had within five days announced it would cut all Russian advertising.

Rated on the basis of its deeper withdrawal, Alphabet got a lower Speed score including a Chicken Penalty (it was slower than Meta also for the initial move against Russian state-controlled media). However, we consider Alphabet's withdrawal Full & Complete with a 10 score for Degree, compared to Meta's score of just 2. Also, Alphabet was a Denouncer of Russia, having the gut to use the word "invasion" which the Russian government hates, compared to Meta's Mealy-Mouther statement. At the end of the day, Google isn't making money from Russian advertising and isn't helping the Russian economy as a result.

Alphabet has an extreme Power level, just as Meta had, because of both economic power by being able to disconnect a major advertising medium from Russian companies, but also because of the Ostracizing effect of being able to let tens of millions of Russians know that a Russian company is persona non grata, for which we gave both companies 10 in Power. However, doing the right thing was less expensive for Alphabet than Meta, which may explain why Meta has failed to do so. Alphabet's Russian revenues were 0.4% versus 1.8% for Meta. This de minimus Exposure of Alphabet put it in the enviable position of looking at a 1,000% Return on Sacrifice opportunity. Either this moral-commercial trade-off was irresistible to Alphabet, or it simply never contemplated its own small Sacrifice and just chose to do the right thing.

Rating as of: 20 April 2022

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:  Boeing, United Parcel Service, UPS Logistics

Count: 

3

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:

720

Total: 720

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