Posted on 02/09/2006 8:46:30 AM PST by oblomov
Church of England considering selling stake in CAT Decision arises from ongoing use of Caterpillar products to raze Palestinian homes (Crain’s) — The Church of England this week voted to consider selling $4.4 million of Caterpillar Inc. shares, because the company’s bulldozers have been used to raze Palestinian homes in Israeli-occupied areas of the West Bank and Gaza.
The resolution was passed Monday at a meeting of the church’s governing body, but must be reviewed by committees that invest the church’s $10.4 billion portfolio, according to a spokesman for the church.
The group of bishops who govern the church voted to “heed the call from our sister church, the Episcopal Church in Jerusalem and the Middle East, for morally responsible investment in the Palestinian occupied territories and, in particular, to disinvest from companies profiting from the illegal occupation, such as Caterpillar Inc. until they change their policies,” according to the resolution.
Caterpillar will not be affected if the church decides to sell its shares, according to an analyst. “I don’t think it means anything to Caterpillar or its stock price at all,” says Scott Burns, at Morningstar Inc. in Chicago. “They own $4.4 million of a $46.6 billion-market cap company. It would be a drop in the bucket, proverbially.”
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Related Article Topics | Related Industry News Caterpillar was the only company mentioned by the church as a target for disinvestment. The church spokesman said that a committee on ethical investing reviewed the Caterpillar situation last year and actually decided against recommending disinvestment. “The irony is that in the last two or three years the only use they have put these bulldozers to is razing the illegal (Jewish) settlements in Gaza,” he said. But after the issue was raised at Monday’s meeting by an English bishop and the Bishop of Jerusalem, the group voted for disinvestment anyway.
Caterpillar stands by its decisions to sell the bulldozers to Israelis, according to a spokesman. “We are not a political body, we have no international political role, and attempting to wrongly include Caterpillar in this debate will not advance peace in the Middle East,” he said. “Caterpillar clearly has neither the legal right nor the tangible ability to regulate how customers use their machines.”
The decision was welcomed by some activist groups. “Caterpillar bulldozers are literally going over Palestinian homes and ripping up orchards,” says a spokeswoman for Oakland, Cal.-based Jewish Voice for Peace. “Caterpillar bulldozers have become synonymous with this destruction.”
Sure sell now that it's high - not much of a sacrifice for the Church of England.
“Caterpillar bulldozers have become synonymous with this destruction.”
There's some good ad copy if ever I saw it.
This is the "Guns Kill People" approach. What is it with these morons?
Idiots! Sounds like there's reason to buy more.
http://www.catdestroyshomes.org/
You answered your own question: What is it with these morons?
So are they goimg to not buy stock in Proctor and Gamble ( makers of Crest ) because Brits teeth are falling out?
I'm not sure what this entity really is, but "church" is a wholly inappropriate label. ;)
Who will rid us of these meddlesome priests?
Yea, real sacrifice and strong stance they are making. Now, why don't they wait until they are taking a loss and then sell!
illegal occupation... lol... thats as much as i need to read. illegal? yeah, like our illegal occupation of north america?
You know why virtually no one belongs to the Church of England anymore? It stands for nothing...but whining and moaning about how everyone is a victim.
They should not buy paper as paper is used to draw cartoons that piss off muslims.
No pharmaceuticals either as drugs are used to execute criminals in the United States.
Hey, this is fun, let's continue with the examples of the absurdity...
While I applaud the Church of England for taking a stand and backing their position, I disagree with that position and think that it might be a good time to buy CAT.
from ongoing use of Caterpillar products to raze Palestinian homes
GOOD!!!! I'm tired of the Church of England's soft stand on terrorism. Jesus would NEVER support the Suicide Murders that Pallestinians do to JEWS.
The Church of England is Just a Facade for Socialists and the Slide into Apostacy.
Good Riddence.
Great, they can officially canonize "St. Pancake."
That's like dumping your stock in Coke because they sold products in South Africa.........wait a minute.....they did.......
St. Smith an St. Wesson.........
Meanwhile I am curious how these Commies intend to invest in "Palestinian" companies. Perhaps an ammonium nitrate factory in Gaza can go public so they can buy shares that better reflect Anglican values nowadays.
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