Giuliani, Edwards pledge to act on their Sudan financial holdings

International Herald Tribune ^ | May 17, 2007 | AP

[jdm]

WASHINGTON: Presidential candidates Rudy Giuliani and John Edwards, who have spoken out about genocide in Darfur, did not know their financial holdings included investments in companies that do business in Sudan, aides said.

An Edwards campaign spokesman said Thursday that the former Democratic senator would sell thousands of dollars of Sudan-related funds.

"He did not know about it and will divest," Eric Schultz said following inquires about Edwards' portfolio.

Giuliani, the Republican former mayor of New York, has at least one investment of between $500,000 (€370,000) and $1 million (€740,000) in a fund that holds stock in a company that is active in Sudan.

"The mayor was unaware of this connection, but is taking it very seriously," spokeswoman Maria Comella said. She said Giuliani and his staff would review his portfolio and "ultimately take appropriate action."

***snip***

According to Giuliani's financial disclosure, he invested between $500,000 (€370,000) and $1 million (€740,000) in a Vanguard Wellington Fund. Data compiled by the Sudan Divestment Task Force shows that Vanguard Wellington has a small percentage of stock in Schlumberger Ltd. a French oil field services company that does business in Sudan.

Edwards sold stock he and his wife owned in Schlumberger for between $40,000 (€30,000) and $100,000 (€74,000). But his retirement pension and his children's trust invested between $30,000 (€22,000) and $100,000 (€74,000) in American Europacific Growth, which has stock in several companies that do business in Sudan.

He also invested $50,000 (€37,000) to $100,000 (€74,000) in Evergreen Equity Income Fund, another fund identified by the divestment task force as having stock in Sudan-related companies.

[jdm]

Schlumberger Ltd. a French oil field services company that does business in Sudan.

LOL. Isn't it (almost) always a French company?

[GOP_1900AD]

Neat! :(

[Holicheese]

“An Edwards campaign spokesman said Thursday that the former Democratic senator would sell thousands of dollars of Sudan-related funds,” including Amalgomated Mudhuts, Int. Water Buffalo Whips and Consolidated Watering Holes.

[AliVeritas]

Ping CoC

[jdm]

Thanks, Ali.

[theBuckwheat]

This is a lot of hot air and a cheap shot. How can anyone know from one day to the next what positions a mutual fund may have from one day to the next. Some funds have well over 100% turnover, meaning that any list that is published is way out of date by the time anyone sees it, aside from the issue that many funds normally only published their top ten holdings.

[UncleSamUSA]

Yes, guys, go right ahead and sell those mutual funds, divest those oil services stocks, book those capital gains....

THAT’LL teach those nasty Sudanese a thing or two about genocide.

[FOXFANVOX]

Thanks, Ali. I don’t know how these guys can keep track. I own mutual funds and they have hundreds and sometimes many hundreds of companies. On top of that, they buy and sell companies frequently. Guess that precludes me from running for elected office. [Among other things.]

[Uncle Miltie]

Divesting can really hurt the Sudanese. They have very few willing investors, and selling / boycotting the remaining few will do more damage to the companies than the value of their investments in the Sudan.

I think this is worthwhile. Divesting from Hitler’s Germany, Stalin’s USSR, Mao’s China, and Pol Pot’s Cambodia would all have been worthwhile. Let’s divest ourselves of genocidal totalitarian Islamofascist dictators.

[ItisaReligionofPeace]

So anyone who is a shareholder in Schlumberger Ltd. or the Vanguard Wellington fund is supporting the atrocities in the Sudan? Sounds like a stretch.

[the invisib1e hand]

absolute non-issue alert. these dopes ought to be completely ignored and anyone who pays attention to them ought to have his priorities questioned.

[George W. Bush]

Divesting can really hurt the Sudanese. They have very few willing investors, and selling / boycotting the remaining few will do more damage to the companies than the value of their investments in the Sudan.

Precisely. I don't get the people who don't grasp how desperate many of the Third Worlders are for hard currency.

We need to press Sudan unrelentingly on human rights for all citizens and particularly the persecuted Christians.

[sono]

Wait - it gets better - Look who's on the SLB Board. Think Pink Floyd's "The Wall."