My Newz 'n Ideas

It is my intent to express my opinion and to discuss current events. Feel free to make suggestions to fields you would like to see covered, and I will consider them. Please leave your name with comments. Thank you. Arabic: عربي.

Tuesday, June 06, 2006

Companies, States Divest from Sudan. Great News!

I find this article through Save (When you go there, hit the 'home' link, then hit the 'Latest News' link.) It is about time. We have been trying to get these companies and governments to divest (take their stock/bonds out of their portfolio) from Sudan so as to change Sudan's behavior. I sure hope it works!

This is a summary which Save Darfur wrote:
A conflict that has taken hundreds of thousands of lives in Sudan's western Darfur region is having unexpected consequences for a number of mostly foreign companies, including at least three with large presences in the Metroplex. Alcatel SA, Telefonaktiebolaget LM Ericsson and Siemens AG are among more than 130 companies that are targets of a growing stock-divestment campaign by states and pension funds. Six states have passed binding or nonbinding legislation on the divestment issue, and Illinois, New Jersey, Maine and Oregon have decided to divest completely. At least 11 other states, including Texas, have had divestment legislation introduced. By dumping stock, the states and pension funds hope to drive down share prices of the companies in their rifle sites, thereby forcing the companies to drop their Sudanese investments. In 2005, the Texas House passed a non-binding resolution by Rep. Lon Burnam, D-Fort Worth, encouraging Texas pension fund managers to divest from Sudan. The resolution wasn't taken up by the Senate. Burnam says he plans to raise the Sudan issue again in the next session, which starts in January.
Please read the article. There is much news in it. They are naming names. hehehe. Maybe you could also share your voice?! Thank you, and have a great day.

Category: USA, Politics/Debate and Sudan.