Carbonite Continues To Suffer Post Limbaugh Backlash
Carbonite, one of the former long-time sponsors on the Rush Limbaugh program, has seen it's stock plummet since pulling off the show.
And apparently, it's not rebounding. According to World Net Daily, and the Washington Times, the stock fell a total of 20% after Carbonite CEO David Friend pulled his advertising as part of the boycott effort following Rush's comments about Ms. Fluke. The company, which went public last August, had gained considerable traction, before leveling off a bit.
But the abrupt departure from Rush's show has triggered sliding stock prices, either from backlash against the firm, or a boycott from fans of the show. The slide, into the end of last week, prompted Chuck Jaffee of Market Watch to call Carbonite, the "stupid investment of the week."
But beyond the stock market news, the Washington Times has reported that Friend has long been a supporter of left-leaning or progressive causes. He has donated generously to the political campaigns of Barrack Obama, John Kerry, and Howard Dean; and such political groups as Moveon.org, America Coming Together, and Texans For Truth. While his personal donations are not necessarily a reflection of Carbonite, his views certainly reflected in the trigger-fast withdrawal from the show.