Danish pension funds criticized over Tesla investments

TheLocal.dk ^ | 25 October 2017 10:15 CEST+02:00 | Ritzau/The Local

[Olog-hai]

Eight Danish pension funds have been criticized after investing over 140 million kroner (€19 million) in US electric car giant Tesla.

The investments, details of which were published by media Ugebrevet A4, have been censured due to Tesla’s policy of banning unions along with its reputation for low wages and high incidence of workplace accidents, reports news agency Ritzau.

“The way I see it, the pension funds ought to withdraw from a company that oppresses its employees and forbids unions,” job market researcher Henning Jørgensen, a professor at Aalborg University, told Ugebrevet A4. “This is a question of withdrawing as soon as possible, because unions cannot put money into a company that does not accept the right for workers to organize,” he said.

Kim Simonsen, vice chairperson in the Sampension fund, which has invested 16 million kroner (€2.1 milion) in Tesla, admitted he was uncomfortable with the investement. Simonsen is also chairperson of the HK trade union. …

[Olog-hai]

Since when is Tesla a “giant”? Their revenue is four percent of GM’s and 4½ percent of Ford’s. The EU overplays Tesla’s worth, merely because “electric cars”.

[cgbg]

It looks like they forgot the most important reason pension funds should not put their money in Tesla—it is beaucoup risky!

[meatloaf]

I don’t agree with you. It’s far more riskier than that.

[allendale]

The Danes are not the only fund managers heavily invested in the Tesla cult who’s jobs are in considerable jeopardy.

[fella]

Non-union?

I thought California and Nevada were both union states.

[rrrod]

I hope they lose every penny!!!