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Bad Copmpanies Being Punished

September 19th, 2007 by Mike Vasilinda

More than 4 dozen companies will no longer have their stocks purchased
by the state pension fund. The Governor and Cabinet today voted to
divest stocks in companies doing business in Sudan and Iran. None of the
companies are household names and none are headquartered in the US.
State Senator Ted Deutch led the effort to ban the stock purchases.

“This is an important messages to those companies, and more importantly,
by setting forth this list today, we make it easier for the other states
in this country and for local governments to help identify these
companies, and put the pressure on them, so ultimately there’s greater
pressure on the government of Sudan and Iran, to stop the actions we
want to influence. Deutch told the Governor and cabinet members.

The law gives the state up to a year to sell it’s holdings.

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