Monday, May 24, 2010

An In-Fidelity Update: Fidelity Investment Company apparently is stubbornly and willfully invested in Maintaining Genocide

 [image is from here]

For this and other related reading and news, please see *here*. When you hear about people having large stock portfolios, day-trading, and being millionaires, what gender and race comes to mind? In my mind, and in my experience with few exceptions, the gender is man and the race is white. That is not a lucky break for white men, at all. It's entirely a function of the sexist and racist politics of corporate capitalism, "oppressive-and-lethal-not-free" trade, and globalisation.

Investors Against Genocide
Draw the line at investing in genocide

Dear friends of IAG,

We are proud to let you know that our colleagues at the Unitarian Universalist Association announced on Friday that they will be moving their $178 million in retirement funds from Fidelity to TIAA-CREF as part of their commitment to genocide-free investing.  This important move is a leading example of the fact that Americans do not want their savings tied to genocide and that the market now provides clear mainstream choice for individuals and organizations that wish to be genocide-free.

All of the details and news related to this announcement, including the UUA press release and a news article from Reuters are posted at this link:

We are very excited about this important step forward for genocide-free investing and thank you for your ongoing support.

If you know of other groups that are moving, or have moved, their money to genocide-free options, please let us know.

  1. Consider moving your investments to American Funds or TIAA-CREF, the two mainstream investment firms that have human rights policies and have taken substantial action in support of those policies.  If you decide to do so after reviewing how the funds meet your personal financial and non-financial criteria, please write the company you are leaving as well as the company receiving your money to let management know why you have made this important decision.  Click here for details on the divestment by American Funds and TIAA-CREF.
  2. Volunteer to submit a shareholder proposal to mutual funds you've held for over a year and in which you have at least $2,000 invested.  The successes with American Funds and TIAA-CREF demonstrate that our shareholder resolutions are effectively pressuring mutual fund companies since both companies changed their policies only after receiving shareholders proposals from IAG volunteers.  Now we need more volunteers to submit our recently updated and strengthened proposal to companies like Vanguard, Fidelity, and Franklin Templeton that continue to hold large investments in problem companies.  We've made the submission process easy and confidential. Click here for details.
Thanks so much all you've done and continue to do for the cause of genocide-free investing.

Eric, Susan, Bill, Mary and Shana
The Investors Against Genocide Team

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