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Jul 24 2013

Ken Hutcherson Thinks He Hurt Microsoft

Ken Hutcherson, the absolutely deranged anti-gay bigot pastor from Washington, amusingly thinks that he did $30 billion in damage to Microsoft by leading a boycott of their stock because the company supports marriage equality. Because “someone” told him this. And because the value of their stock went down for one day.

“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. I went in for three straight years with my stock and 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, I mean they were Microsoft, they pooh-poohed me and they thought I was nuts so I said, alright just wait and see…And Rick, there was a selloff of stock on March 15$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. But I know for a fact the stock went down that day and it never has recovered to this day.”

And now, a word from reality. As Right Wing Watch points out, Microsoft’s stock is more than 20% higher now than it was when Hutcherson started his campaign in 2008. In fact, when he sold that stock on March 15, 2011, the value was about $25. Now it’s over $32. You just keep telling yourself how much damage you did, Ken. Reality won’t budge one bit in the face of your delusions.

16 comments

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  1. 1
    Sansgawd

    lol. The only thing that has hurt MS is the new Xbox that sux balls…

  2. 2
    notruescott

    we do not like the way you’re going down in our country

    Huh-huh; he said going down.

  3. 3
    Chiroptera

    When I read the headline, I assumed that Hutcherson was taking credit for Winows 8.

    Oh, come on! You knew someone was going to say it!

  4. 4
    Zinc Avenger (Sarcasm Tags 3.0 Compliant)

    Why does he hate the free market?

  5. 5
    Phillip IV

    I’m gonna have everyone that bought sell stock

    Which would only cancel each other out, of course – aside from the slight issue of volume, Hutcherson’s whole plan was a guaranteed flop for this little design problem: if he first gets people to buy stock, and then later sell it again, MS still wouldn’t be any worse off than they were before. It’s like giving somebody 10 bucks and then angrily demanding them back.

    On the other hand, at least Hutcherson’s friends made a little profit from his recommendation, with the stock price going up. That alone puts Hutcherson way ahead of a lot of “prosperity gospel” preachers.

  6. 6
    Eric Riley

    I would like to point out that what he’s telling the rubes he believes, and what he *actually* believes are two different things.

    What struck me about this was, “…they gave me one share…” followed by “…there was a selloff of stock on March 15…” Not, “I and my followers sold our (x-number-of-shares-of) stock”, but “there was a selloff”. What it sounds like to me is that he is sitting on a bunch of Microsoft stock now worth $32 that was given to him gratis. Nice deal, if you can get it.

    I wonder if he’s going to try to expand his stock empire – and would it be insider trading to sell short if you knew in advance that the price might take a little dip because you could get a bunch of people to all sell at once?

  7. 7
    Draken

    If he actually managed to move others to sell their stock (which i doubt), he’s made some new friends now.

  8. 8
    John Pieret

    Reality eludes wingnut. Film at 11.

  9. 9
    sigurd jorsalfar

    Windows 8 damages us all.

  10. 10
    oranje

    Makes me even more tempted to buy the forthcoming Samsung Android/Windows tablet. Though it looks sweet all the way around anyhow.

  11. 11
    John Hinkle

    …and I never can confirm that because they won’t allow that to come out.

    That sounds so… believable.

  12. 12
    kantalope

    OK people – we need to get British Petroleum to listen to us. So I need you all to go out and buy as much BP stock as you can and send it to me. Then at just the right moment – I’ll sell off the stock. That will teach those bastards!

  13. 13
    Morgan

    …someone told me the difference was $30 billion and I never can confirm that because they won’t allow that to come out.

    …How could they hide a fall in the value of their stock? It gets that value by being traded, publicly, on the record…

  14. 14
    Ben P

    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.

    This confirms he doesn’t have the slightest understanding of how any of this works.

    A quick google tells me that Microsoft’s market capitalization is $266 billion dollars. (the 7th largest in the world incidentally) that’s, give or take 8.3 billion shares outstanding at $31.97 a share.

    Within the past year Microsoft has traded from a low of 26.26 to a high of $36.43. That’s a swing in the paper value of the company by over $85 billion. ($217B to $302 Billion)

    Because of it’s sheer size it wouldn’t take more than a loss of about 10-12% to make up his claimed $30 billion. Such a loss would be a big deal to Microsoft, but would also be big news everywhere.

  15. 15
    Doug Little

    What is it with wingnuts and large numbers? They really have fuck all of a clue once they reach the toes and fingers threshold.

  16. 16
    slc1

    The born again boycotts don’t seem to have heart Starbucks either.

    http://online.wsj.com/article/SB10001424127887323610704578628380457560820.html

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