Portland, Oregon Drops Investments in Walmart
As part of an attempt to invest responsibly, officials have announced that the city will let its bonds with the retail giant and documented labor abuser die when a final holding expires in April 2016.
As part of an attempt to invest responsibly, officials have announced that the city will let its bonds with the retail giant and documented labor abuser die when a final holding expires in April 2016.
Commissioner Steve Novick led the drive to eliminate the corporation from city treasury holdings.
Portland Business Journal reports:
The final Walmart bond among the five the city currently holds will expire in April 2016. At that point, the city will have eliminated $36 million worth of investments in the company, according to a release.
Union members and Pastor Tara Wilkins from the Bridgeport United Church of Christ appeared with Novick at a Thursday rally announcing the move.
The move comes as the city seeks to evaluate holdings that may spur “health and environmental concerns, abusive labor practices, and corrupt corporate ethic and governance.”
Until Thursday, Walmart holdings accounted for 2.9 percent of the city’s investment portfolio, which ranges between $940 million and $1.29 billion. It generated about $4.3 million in earnings during the last year.
— Posted by Alexander Reed Kelly.
Rooted in Truth.Independent by Design.
Your support helps ensure that rigorous reporting, thoughtful analysis, and investigative journalism remain accessible to everyone.
Support independent journalism.
Environment
Cutting nearly a quarter of the agency’s staff decimated institutional knowledge in a way that can’t easily be righted and threatens to break the emotional bonds Americans have with public lands.
Health & Wellness
As medical assistance in dying becomes legal in Vermont and Oregon, terminally ill patients find themselves traveling to die on their terms.
Interview
The lessons learned after spending months embedded with unhoused communities in Oregon.
Race
Instead of fixing Oregon, the Greater Idaho movement seeks to leave it. White supremacists are on board.
Environment
The forever dangers of small modular reactors.
Seven years after Immigration and Customs Enforcement took custody of its children, a North Carolina family is still searching for answers.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.