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Discussion:
Pension Funds
Posts 1 to 4 from a total of 12
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Pension Funds
[16-Jul-2002]
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posted by: josemetra
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Doing some research on this matter, I came across the following text in a website. Some years ago it was revealed that Scottish universities were investing their pension funds on arms manufacturing, to the astonishment of the academic world. Is this an issue for you? Do you really mind your money being put in any industry, regardless of its activities as long as their are profitable? If not, what are you doing about it? Would you bother to find out what is done with your money? And if you found out it went against your principles (assuming you have any, of course) would you do something about it? Just wondering.
What's At Stake!
Tell Fidelity to Divest from Talisman
As the U.S. wages war against terrorism, the radical Islamic government in Sudan, a country that once harbored Osama bin Laden, continues to terrorize its own black African population. On October 7, 2001, Sudanese planes bombed two southern villages, killing 15 children among other civilians. Indeed, the Sudanese government's grisly record is one of mass murder, gang rape, and slavery -- the U.S. Congress calls it 'genocidal.'
Oil companies -- including Talisman Energy of Canada (NYSE: TLM) -- only compound the problem by filling Sudan's war coffers with oil profits and by creating one more reason to clear the oil-rich land of southern Sudan. According to a Canadian/British human rights assessment, the Sudanese government has even launched helicopter gunship attacks on civilian settlements from facilities built, maintained and used by the oil consortium headed by Talisman. And, in a 1999 Sudanese government memo, Talisman requested that the military "clean" areas surrounding the oilfields.
And, millions of Americans have been made inadvertent partners to the slavery and slaughter in Sudan because the pension funds they belong to or the mutual funds they own contain Talisman Energy stock.
Recently though, many major pension funds, as well as several private mutual funds, have divested from Talisman. Indeed, TIAA-CREF, the largest pension fund in the world, has divested from Talisman Energy. So has Vanguard. So have the pension funds of New York, New York City, New Jersey, California and Wisconsin.
But Fidelity Investments repeatedly balks at parting with their 4 million shares of Talisman. And they refuse to even speak with anti-slavery activists. Fidelity argues that it cannot take responsibility for the actions of companies in its portfolio. However, decades of shareholder activism by other investors demonstrate the opposite.
Tell Fidelity to divest from Talisman Energy, a partner with the genocidal Sudanese government. Talisman helps fund government militias in their campaign of gang-rape, mass murder and slavery -- all to clear the land for more oil drilling. Your voice can make a difference. Send an e-mail to John Shaw, assistant to Fidelity CEO Edward Johnson. And take two minutes to call Mr. Shaw at 1-800-771-7213.
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Re: Pension Funds
[16-Jul-2002]
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posted by: lechacal
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Who cares but you ? Pension funds are created to have the best return on investment and as far as I know manufacturing arms is not a crime.
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Re: Pension Funds
[16-Jul-2002]
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posted by: josemetra
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And, believe it or not, I found the following in the website of the largest pension fund co. in the world. What's happening with the praised unregulated markets, uh?
When Robert Shiller wrote about
a world of irrational investing...
he also discovered a company
that was anything but.
Robert Shiller, author of the best selling book, Irrational Exuberance, wonders why we have such faith in the utter rationality of markets when we ourselves can be kinda, you know, irrational. Bad judgment, lousy information, half-baked strategies -- there are times when money brings out the worst in people. That's why when Robert Shiller became a Professor of Economics at Yale in 1975, he invested his retirement dollars with us -- a company whose levelheaded thinking stands out in a world where impulse and intuition are bucking intelligence and insight. See how this sensible approach can work for you.
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At least we have Pension Funds
[16-Jul-2002]
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posted by: lechacal
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Words words words........
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