| Action Announcement Nov. 5, 2003 Unocal benefits from forced labor in Burma, Join the Protest!!! A federal court has found that Unocal knew Burma's regime used forced labor on the Yadana pipeline "as early as its initial deliberations as to becoming a co-venturer with the military." The court also found that once involved,Unocal benefited from forcedlabor. According to the AFL-CIO report, "Unocal expects at least a value of $1 billion from the Yadana project" The project is one of the single largest sources of revenue for the military dictatorship The Villagers Villagers are subject to random acts of theft, harassment and violence on a daily basis. Local villagers say that the Burmese army has rounded up tens of thousands of villagers to build this pipeline as well as roads, airports,military facilities, and multinational oil company buildings. A US embassy report said that forced labor was common in Burma. "The military continued to force ordinary Burmese on a massive scale (including woman and children) to contribute their labor, often under harsh working conditions, on construction projects around the country," the report said. Therefore we, US Campaign for Burma, urge you to please join the protest against TIAA-CREF on November 13 as says below. Contact: Kheng Chow 646-303-3305 Moe Chan 646-643-8689 **************************************************************** ACTIVISTS PROTEST AT ANNUAL SHAREHOLDER MEETING TO PRESS PENSION FUND TO INVEST RESPONSIBLY AND IMPROVE CORPORATE GOVERNANCE
"Out of the Bad and into the Good" Thursday, November 13, 8:30-11 a.m. Annual Shareholder meeting of TIAA-CREF. A call for the $300 billion pension giant to invest in positive ventures (like low-income housing); divest Unocal, Nike, Wal-Mart, BP, Costco, and Philip Morris/Altria; and boycott World Bank bonds. Outside of 730 Third Ave. (between 45th and 46th streets). TIAA-CREF pension system participants can call to receive an admission pass to attend or speak up inside the meeting (800-842-2733, 212-490-9000). During the week of the meeting, TIAA-CREF participants and others please call CEO Herbert Allison at the same phone numbers and note the above issues. For information, see www.maketiaa-crefethical.org; 260-982-5346; NJWollman@manchester.edu Sponsored by Citizens' Coalition, Infact, International Tibet Independence Movement, Press for Change, Students for a Free Tibet, U.S. Campaign for Burma, U.S. Tibet Committee, World Bank Bonds Boycott, and Social Choice for Social Change. ========================================================== As the nation's largest pension fund, TIAA-CREF, a retirement fund mainly for educators, prides itself on being responsive to shareholders and a socially responsible "concerned investor." However, the fund continues to hold large investments that support tobacco sales, sweatshop labor, harmful environmental practices, and oil companies tied to brutal dictatorships. Other funds earn good returns while investing in more socially beneficial ways. A broad-based coalition is calling for funds to be invested in affordable housing and in companies that are, for example, pioneering socially or environmentally responsible products or services. Also, TIAA-CREF is weak or contradictory in its own governance practices, despite being considered a leader in good corporate governance. Three relevant shareholder-proposed resolutions are on the annual meeting ballot. |
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