Pension Giant Dumps $73 Million Caterpillar Stock Over Israel Ties

[Judi Lynn]

Published on Saturday, June 23, 2012 by Common Dreams

Pension Giant Dumps $73 Million Caterpillar Stock Over Israel Ties

- Common Dreams staff

Pension fund giant TIAA-CREF has removed Caterpillar, Inc. from its Social Choice Funds portfolio. As of May 1, 2012, financial data posted on TIAA-CREF’s website valued Social Choice Funds shares in Caterpillar at $72,943,861. Today it is zero.

“We applaud this decision,” said Rabbi Alissa Wise, Director of Campaigns at Jewish Voice for Peace and National Coordinator of the We Divest Campaign. It’s long past time that TIAA-CREF began living up to its motto of ‘Financial Services for the Greater Good’ when it comes to the people of Israel and Palestine.”

Since 2010, We Divest has been urging TIAA-CREF to drop Caterpillar and other companies profiting from and facilitating Israel’s 45-year-old military occupation and colonization of the Palestinian West Bank, East Jerusalem, and Gaza Strip.

“By selling weaponized bulldozers to Israel, Caterpillar is complicit in Israel’s systematic violations of Palestinian human rights,” said Rabbi Wise. “We’re glad to see that the socially responsible investment community appears to be recognizing this and is starting to take appropriate action.”

More:
http://www.commondreams.org/headline/2012/06/23-1

[roody]

1. good news!

[stockholmer]

2. much more dumping to come, hopefully

Wonderful news on a day filled with little.

[riverwalker]

3. Norway does the same

Israeli Company is Excluded from Norwegian Pension Fund

The Ministry of Finance has excluded the company Shikun & Binui Ltd. from the investment universe of the Government Pension Fund Global (GPFG).



http://www.tnp.no/norway/panorama/2997-israeli-company-is-excluded-from-norwegian-pension-fund

[schmice]

4. Just how noble are the homicide bombers who blow themselves up and cause massive civilian casualties

You may hate the Israeli government's policy but I can't say much for how Arab governments treat their women and children. They are as racist and anti-science as they come.

[Fantastic Anarchist]

5. What an ironic post.

[The Stranger]

7. Nice try at a diversion, but it won't work here.

Try to stay on point.

[oberliner]

6. Caterpillar's Net Soars on Strong Demand

Caterpillar Inc.'s CAT -0.18% second-quarter earnings rose 67% as strong demand continued to drive the heavy-machinery maker's revenue growth.

The company also raised its full-year earnings estimate to about $9.60 a share from its April forecast of about $9.50 a share and cut the high-end of its revenue guidance by $2 billion, now expecting $68 billion to $70 billion. The company cited weaker economic conditions in much of the world and about $1 billion of negative currency impacts.

http://online.wsj.com/article/SB10000872396390443477104577548642961778020.html