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US pension fund TIAA-CREF divests Africa Israel
Anat Tzipkin, Calcalist
Published: 13.09.09, 09:22
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26 Talkbacks for this article
1. Good News Keep Coming
Nour ,   Palestine   (09.13.09)
This is only the beginning of the global BDS movement against the apartheid state of Israel. Nobody said it would be a short journey but we'll get there: human rights and citizenship for all.
2. This is the first sign of
shadoil ,   Jerusalem   (09.13.09)
an economic boycott from the US due to the political stance of the current administration. I recomend that Israeli companies if they want security, start to seek out institutions whos leanings are either more hawkish or have religious inuendos so as to assure the financial security of their companies rather than having to put up with financial blackmail!
3. New American Foreign Policy! Choke Israel!
Jewish Refugee   (09.13.09)
How about countries and companies that support illegal Arab occupation of Israel?
4. Divestment Mathematics
Ze'ev ,   Eshkolot, Israel   (09.13.09)
I have never heard of a company that has its decisions made by 60 out of 3.6 million investors! I wonder who this company actually represents, its investors or those with an agenda that's not based on getting value for money.
5. Hypocrites!
Tom W. ,   Windsor, Canada   (09.13.09)
Academics removing their money in an attempt to hold onto a phony higher moral ground shows their ineptness to differentiate propaganda from reality! Where's their moral outrage on all those American companies profiting from the wars in Iraq and in Afghanistan? There are more American private contractors (soldiers of fortune, oil company employees, employees for companies that supply the military, etc.) than actual U.S. military personnel in these war zones; have they invested with any of these companies? What about oil companies, do your investment portfolios contain any monies with these immoral companies that fund war (i.e. in Sudan and Nigeria)? And what of multinational corporations that continually move their manufacturing base to countries where labour is cheap. Also these academics come from a union background, yet they're investing in companies that use third world non-union labour, including children! These high and mighty academics are advocates for a clean environment; yet are conveniently willing to look the other way to make a buck on their pension plan at the expense of the poor in the third world whose environment is being polluted thanks to these multinational corporations. I find it ironic that it's these very same academics that are pushing for cap and trade schemes in the developed world, while they line their pockets by investing in corrupt corporations that bride their way to pollute unregulated in the third world! It must be nice knowing that you can be two faced, divest from Israel (be heroes of the left) and still live comfortably on a unionized pension plan that makes money off of using cheap third world labour and using these poor nations as a dumping ground for solid, liquid and gas waste products! How lovely it must be to live in that ivory tower of your making!
6. Real reason for "divestment": Africa-Israel is bankrupt.
Adamush ,   Israel   (09.13.09)
7. #3 Great idea!
Ken ,   Burma   (09.13.09)
"How about countries and companies that support illegal Arab occupation of Israel" Great place to invest in Peace!
8. AVOID CANCER DETECTION EQUIPMENT AT DR
BOB ,   POTOMAC MD   (09.13.09)
THE CANCER DTETECTION EQUPMENT IS MOST LIKELY DEVELOPED BY ISRAEL--AVOID IT. DIE OF CANCER BUT FEEL POLTICALLY CLEAN
9. The article is misleading !
Yair ,   Michigan, US   (09.13.09)
The letter on the TIAA CREF is shown below. It states that the sale of shares took place in June, long before the letter was received. *********************** Statement on Letter to TIAA-CREF by Coalition for Justice in the Middle East New York, September 11, 2009 -- TIAA-CREF no longer owns shares in Africa-Israel Investments Ltd. A letter dated September 11 from the Coalition for Justice in the Middle East calls on TIAA-CREF to sell shares in that company, which the signatories allege builds and maintains homes in Israeli settlements on Palestinian land. While a small number of shares of Africa-Israel Investments Ltd. were held in the CREF Stock Account, since June 30, 2009 they are no longer held in the Account following their removal from an emerging markets index that the Account tracks, as part of a regular rebalancing.
10. Racist Apartheid
Zionist ,   Eilat   (09.13.09)
If It is said enough fools will believe it. Our enemies are doing a great job of Hasbara. We have lost our creditability because of mixed messages and out an out lies by our leaders. gosh that sounds like the way our enemies used to carry on. The whole truth will buy us lots of friends
11. NOUR
Yaron ,   USA   (09.13.09)
Didn't Aline from Lebanon provide you any perspective as to how loved you and yours are. You really are a pathetic lot that the world is awakening to and realizing that all their investments in you are in vain. May you find a home in one of the 22 racist arab regimes spread out over the ME....but you will never be welcome in Israel.
12. DIVESTMENT -- NOT TRUE AT ALL !!
ABARHAM ben JACOB ,   CANADA   (09.13.09)
THIS FUND, ITIAA-CREF BEHAVES JUST LIKE MOST OTHER FUNDS DO: THE FUNDS ACT IN THE MONETARY INTERESTS OF IT'S MEMBERS AND FOR PRACTICAL REASON LIKE MAKING MONEY FOR IT'S INVESTORS. THE ANTI-ISRAEL HATERS CAN CLAIM " DIVESTMENT VICTORY " AND ATTEMPT TO TAKE CREDIT. HOWEVER, FUNDS MANAGERS CREDO IS THAT THEY DO NOT DIVEST FROM SECURE MONEY MAKING COMPANIES. IF THE COMPANIES THEY INVESTED IN , ARE NO LONGER SEEN AS THE BEST INVESTMENTS AND IS NOT THEIR MONETARY INTEREST, THEY WILL REMOVE THIS MONEY AND INVEST IN SOMETHING MORE LUCRATIVE. THAT IS THEIR JOB.
13. Investing in Israel
Harold ,   Liverpool, USA   (09.14.09)
I had an account with TIAA-CREF and did not know it was invested in Israel. I believe that other organizations and establishments will do the same. I heard NYC 's pension funds are invested in Israeli banks.
14. #12
Harold ,   Liverpool, USA   (09.14.09)
It is not proper for US companies do business with Israeli banks and and investment company that have links to occupation and building illegal settlements.
15. They are Breaking US Law
Ralph Levy ,   USA   (09.14.09)
REPORT ANTI ISRAEL BOYCOTTS EVEN IF THEY ARE IN THE UK OR EUROPE IF THEY ARE BREAKING US LAW. YOU CAN MAKE A DIFFERENCE READ THE LAW FIRST. http://www.bis.doc.gov/complianceandenforcement/antiboycottcompliance.htm
16. yeah and the performance has nothing to do with it....
Danny   (09.14.09)
17. TIAA-CREF divestment
Eli ,   Israel   (09.14.09)
The call to TIAA-CREF for divestment was from Adalah (formerly the Ad-Hoc Coalition for Justice in the Middle East) – an extreme left, pro-Palestinian fringe group. Here is how it describes itself (from the Adalah website): “Adalah is a grassroots strategic alliance of concerned organizations and individuals in New York, formed to demand an immediate, unconditional, and permanent end to U.S. and U.S.-sponsored Israeli aggression in the Middle East. In response to the continuing injustices committed by the U.S. and Israel, which constitute gross violations of international law, Adalah stands with the people of the Middle East in their demands for justice, equality, democracy, and respect for human rights. In particular, we support the call for non-violent punitive measures including boycotts, divestment, and sanctions to be maintained until Israel meets its obligation to recognize the Palestinian people's inalienable right to self-determination and fully complies with the precepts of international law by: (i) Ending its occupation and colonization of all Arab lands and dismantling the Wall; (ii) Recognizing the fundamental rights of the Arab-Palestinian citizens of Israel to full equality; and (iii) Respecting, protecting and promoting the rights of Palestinian refugees to return to their homes and properties as stipulated in UN resolution 194. We also call for… the immediate release of all Arab political prisoners held in Israeli jails; an end to all policies of apartheid and ethnic cleansing; an end to all forms of collective punishment; and an end to US military and financial aid to Israel. We also affirm the right of all people to resist occupation and oppression. … We recognize that Israeli aggression is supported by the United States and is inseparably tied to the United States' illegal occupation of Iraq and larger U.S. strategies for hegemony in the region.” It seems that Adalah has organized the divestment letter signed by several left-wing US academics, either Adalah sympathizers or members. I guess in the today’s US political climate, the otherwise respectable TIAA-CREF felt obliged to respond.
18. #14
Yaron ,   USA   (09.14.09)
Blah Blah Blah....you Brits are so damned pretentious with your new found moral high ground. Why don't you focus on the misdeeds of your forefathers and ask for forgiveness from the Jews of Israel for their past misbehavior. But please do not patronize them as you are nothing but a hypocrite as it is your country that has caused a large degree of the problems in the ME. May you be swallowed up by your peace-loving British muslim population....couldn't happen to a nicer bunch!
19. This has nothing to do with settlements
Richard Levine ,   Israel   (09.14.09)
As much as the Palestinian propaganda machine would like you to believe, this "divestment" is purely an economic decision .. and a correct one at that. Africa Israel is experiencing serious financial difficulties resulting from the collapse of worldwide real estate markets. They cannot meet their obligations to bondholders and are in the process of rescheduling their debt. It is simply a bad investment in today's economy.
20. #14, Why not? We're doing business with Saudis
AK   (09.14.09)
the most corrupt, intolerant, bigoted regime that exists, whose citizens murdered 3000 of our own. US companies are dealing with the REAL bad regimes; Israel, as far as I am concerned, is a good guy on the World stage.
21. You would think all these teachers would be moving back to
Steven Wilson ,   Anchorage, Alaska   (09.14.09)
Europe and giving all of us American Indians our land back. I forgot, they didn't commit apartheid.....they went seven steps further and killed all my ancestors committing genocide. But hey....the Liberal blind leading the blind. They love killing kids in Abortion clinics also. Judgmental bunch of clowns to say the least.
22. #18
Harold ,   Liverpool, USA   (09.14.09)
I live in Liverpool, USA so your comment is unvaluable. Although I am not British but you have to worship your creator Lord Belfour who promissed you land and created the greatest monster in the world. You don't even have a statue neither for Balfour nor for Harry Truman who were the real creator of Israel.
23. #20
Harold ,   Liverpool, USA   (09.14.09)
If you prefer to freeze in winter then stop dealing with Saudi Arabia and other Arab countries. Tell me one thing the US is getting from Israel. The answer is nothing but problems. We the tax payers are fedup paying Israel Billions and Billions just for nothing but problems.
24. 23# You don't know a thing about Alaska.
Steven Wilson ,   Anchorage, Alaska   (09.15.09)
We supply all of our own natural gas and gasoline...... that is processed in Kenai Alaska at the oil processing center where it is cracked into fuel. You had better keep hoping we send oil to you...........so you don't freeze to death in the winter. Look at (usdebtclock .org). We owe almost 83 trillion dollars in on and off the book debt. We have 153,608,250 people working in the United States. Times one percent 1,536.082.5 times 9.7 and you will get 14,900,000 people who are currently in the work force in the United States. That is how you know the working figure is correct. It is from the government numbers released a week ago. We have 9.7 percent unemployment. Now divide 82.7 trillion by 153,608,250....it equals $538,382.00 dollars. Each worker in the USA owes over half a million dollars for the Governments spending spree. The United States is broke. The Israeli's didn't have anything to do with it. Quit blaming Jews. They have been scapegoated enough.
25. The figure on talkback 24# of 14.9 million
Steven Wilson ,   Anchorage, Alaska   (09.15.09)
is the amount of unemployed people in the United States as of a week ago
26. Noor
Dan ,   london   (09.16.09)
Oh Nooooooor.... 1. this is not the first time companies have divested from Israel... 2. They always come back! Why??? Cause unlike our friendly neighbours we do not sit, sulk and strap bombs to our chest... we innovate, create, develop and build! 3. Why dont you try and build your own economy instead of just financing terrorism? Dubai Tower was a more recent example of the palestinian appetite for destruction. Oh.. and as for your other posts.. The land of Israel will never be a bi national state.. it is a jewish state.. no right of return or any other nonesence.. you will have your own land. Its fate and future will be in your hands.. will you innovate? develop? build? educate your children ?? or will you it be another failed muslim state ... another somalia or pakistan? another misery striken wasteland of violence and oppression? I hope the former, but im certain of the latter....and then no doubt you will point the finger as ever at israel and the west for your failures.... What you dont realise Noor is that you are the only one who looses. No one else really cares.
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