Caterpillar Stock Surges. BDS fails

Caterpillar has been in the cross-hairs of Team BDS  for years now.  Looking at Cat's performance over time shows how irrelevant the BDS agenda is.

Caterpillar's sterling performance this quarter reinforces the irrelevancy of  BDS as a tactic. So, hows that boycott working for you, anyway?

And todays Darwin award goes to....

Silly Gaza.  Didn't you learn anything from Rachel Corrie?  Caterpillar bulldozers are dangerous. They aren't toys.

Wedding party in Beit Lahiya mugs for the cameras, on a Caterpillar Bulldozer

If the Palestinians don't boycott Caterpillar, why should anyone?

Caterpillar and Tiaa-Cref. Lies the BDS'ers told me.

Caterpillar. One way or another, the BDS'ers are obsessed by it. Even Medea Benjamin  of Code Pink found Caterpillar irresistible, and kept an investment of $180,000 in Caterpillar stock in her Foundation until 2011.

Caterpillar. Another BDS fail

Its no wonder. Caterpillar performs, both in the field and in the market.  Caterpillar continues to pay a dividend yield of 3.27%, compared to the average 2% dividend paid out by other companies in the S and P index.

Gaza loves their Caterpillars, too, and neither JVP nor the Corries have been able to convince them to give 'em up, begging the question of just who and what is this "Palestinian civil society" we keep hearing about?

Caterpillar in Gaza

But, but, but, you say "Tiaa-Cref divested."   Ummmm.  No.  Several socially conscious funds removed Caterpillar from their portfolio in 2012 as the result of an employee labor dispute. When the issue was resolved Caterpillar was returned to the listing.

In 2012,  the We Divest Website- a JVP sock puppet site proudly proclaimed Caterpillar Removed from TIAA-CREF’s Social Choice Funds , heralding it as a "Victory for Pro-divestment Advocates". The carefully worded press release implied that Tiaa-Cref's choice was the result of activist pressure, when the reality was different. It was another routine business decision manipulated by anti-Israel activists and transformed into yet another BDS hoax

Notice how JVP and friends aren't that quick to announce that today Tiaa-Cref has over $3.4 million invested in Caterpillar in their Social Choice Equity Fund, marking another great big BDS fail ?

Another BDS fail. Gaza loves Caterpillar

At its core, the boycott, divestment and sanctions movement (BDS) movement is awash in hypocrisy.

Since the very beginning, Caterpillar has been in the BDS'ers crosshairs.

But boycotts should begin at home.  There are Caterpillar dealerships in both Ramallah and in Gaza

Its' been claimed that "Palestinian civil society " is behind the movement to boycott the region's only democracy. Yet clearly the Palestinians have rejected a boycott of Caterpillar.

Caterpillar in Gaza

If Palestinians in the West bank and Gaza have already  rejected a boycott of Caterpillar, why should the Americans and Europeans be pressured to ignore their wishes ? 

If the Palestinians do not boycott Caterpillar, why should anyone?

Medea Benjamin ignores inquiries on her Caterpillar Investments

Medea Benjamin, BDS doyenne of Code Pink and Global Exchange is in deep denial.

After the BDS -defying  investments of her 12 million dollar "Benjamin Foundation" in Caterpillar, General Electric and Intel were daylighted , Medea's been laying low, hoping that people would forget.

Its not just the "Zionist" inquiries regarding her investments she is ignoring.

Her own supporters are questioning her, and are asking for explanations. Yesterday,  Burkely Hermann, a self described "occupy activist'" asked her directly.

And was met with nothing but silence.

Burkely Hermann is correct. Not only is the BDS hypocritical, its claim that it speaks for the Palestinian people has been  disproven

From the award winning Arab journalist, Khaled Abu Toameh

For some PA officials, BDS is a movement that acts against the true interests of the Palestinians. They say that the actions of those promoting BDS make the Palestinians appear as if they are not interested in peace and coexistence with Israel. BDS activists in Ramallah have succeeded in preventing several planned meetings between Israelis and Palestinians in Ramallah and east Jerusalem.

The Palestinian Authority is also worried that BDS is harming the Palestinians' relations with other countries. The most recent example of BDS efforts to damage Palestinians' relations with friendly countries occurred a few weeks ago, when the "anti-normalization" activists tried to disrupt a performance by an Indian dance troupe in Ramallah.

A PA official in Ramallah explained that BDS and its followers make the Palestinians appear as if they are all radicals who are only interested in boycotting and delegitimizing Israel. "This goes against the PLO's official policy, which is to seek a peace agreement with Israel based on the two-state solution," he said.

 BDS: Hypocritical and anti-peace. Is there anything else you need to know?

Code Pink apologists attempt to spin Medea Benjamins' Caterpillar investments

As the co-founder of Global Exchange and Code Pink , Medea Benjamin is at the forefront of the BDS movement except apparently, when it interferes with her own opportunities for financial gain.  As  Medea Benjamin is confronted by her peers regarding her foundations' investments in Caterpillar the explanation  spin has taken some curious routes.

Via Twitter:
In this discussion, Benjamin Doherty 's (@bangpound)  protected tweets seem to imply that this was  a strategy to allow Medea to vote at Caterpillar shareholder conferences, but that assertion is challenged by  Daniel Shunra, who asserts that the $120,000 investment is beyond what is needed to vote.

Alli McCraken, one of Medea's employees at Code Pink claimed that the investment was a holdover from the days when Medea's father ran the Foundation

Financial disclosure forms indicate that Susan Medea Benjamin was in control of the Benjamin foundation from at least 2009, so no, Alli.  Nice try, though.

Liars and hypocrites clearly need to spend more time fine-tuning their back-stories.  

Incidentally, the 2012 990s  for the Benjamin  Foundation no longer list Caterpillar as an asset, but  holdings in Intel and General Electric, also touted as "complicit in the occupation"  remain.

The take-home lesson from this episode?   For at least some  "progressive" ideologues,  profit trumps politics.  Medea Benjamin is a true 1 per-center

Palestinian Civil Society rejects BDS

Palestinian Civil Society appears to have looked BDS right in the eye, and rejected it.  How long will it take for the anti-Israel advocates to catch on?

From Israel National News

Last month, BDS (Boycott, Divest, Sanction) activists slammed Palestinian Authority chief Mahmoud Abbas for not joining in with them to boycott Israel – and on Monday, the PA revealed just how uninvolved it was in the BDS movement. According to a PA report, 70% of the PA's imports were from Israel, with imports worth $3.5 billion entering the Authority from Israel.

It should be noted that Israel generally does not restrict imports of consumer goods to the PA, and that Israeli goods compete on Palestinian store shelves with goods from Arab countries and Europe as well as from the PA. Rather, it is the Palestinian consumer who is driving the push for Israeli goods in the PA, Palestinian merchants said.

According to the merchants, PA consumers prefer Israeli goods because they believe they are higher quality than cheaper local products or products from Arab countries. Israeli-made products are popularly priced, and consumers believe they get good value for money when they buy “blue and white.”

In an interview with the PA daily newspaper Al-Quds, Salah Haniyeh, director of the PA's Consumer Protection Authority, said that PA residents were not big savers. 

“The spending by Palestinians is the main reason for the Authority's negative balance of payments,” he said. While the PA economy would be greatly improved if Palestinians bought local products, he said he understood their reluctance to do so, as PA-made products are generally not well-made.

For many years, the construction equipment company Caterpillar was the object of the BDS holes wrath. But Palestinian civil society has spoken, and has firmly rejected the Caterpillar boycott. The Ramallah dealership is thriving

The Palestinians love their Caterpillars so much, they have celebrations for them



When BDS rears it ugly face at your church or your university, demanding you divest from Caterpillar, ask them:  "If the Palestinians haven't divested from Caterpillar why should I?"

An article in the Commentator, written  by Nick Gray touches on this phenomenon:

Though they will deny it, their actions speak louder: BDS campaigners simply do not care about the circumstances, hopes and dreams of ordinary Palestinians

The curious case of SOS – Scarlet, Oxfam and Sodastream – has enabled us to hear something almost totally inaudible most of the time – the voice of ordinary Palestinians. And what they are saying doesn't quite match the much louder voice of boycott campaign groups, one of which it seems Oxfam has become.

Instead of backing international NGO calls for a boycott of settlement goods, workers at the Sodastream factory in the West Bank have come out overwhelmingly in favour of Scarlet Johannsen’s opposition to BDS. So why are ordinary Palestinians at odds with the groups that claim to support them?

One of the biggest traps of the whole international BDS campaign is that it depersonalises the lives of ordinary people, both Israelis and Palestinians. The campaigners, including Christian NGOs and churches, simply do not care about the circumstances, hopes and dreams of ordinary people.

 Read it all here

Palestinians Love Caterpillar. Why doesn't JVP?

Nearly every divestment initiative that hits American campuses and church groups insists that the institution divest from Caterpillar, a manufacturer of construction equipment that  supplies bulldozers to Israel  that allegedly are "complicit in the destruction of Palestinian homes".  In particular,  Jewish Voice for Peace has become obsessed with Caterpillar, regularly stalking their meetings, shareholder events, and social media sites. Their latest campaign has been to pressure and bully the  investment giant Tiaa-Cref  to withdraw its holdings from Caterpillar.

JVP  remains  oblivious to the fact that the Palestinians themselves have not divested from Caterpillar.  In this youtube from last year, the Palestinians celebrate the delivery of new Caterpillar equipment to the West Bank.  Maybe someone needs to remind them of the Palestinian "civil society" call to boycott.

There are Caterpillar dealerships in both Gaza and in Ramallah, incidentally.

Why does JVP insist that Americans be more Palestinian than the Palestinians? Why does JVP insist that American institutions divest from Caterpillar, when  Palestinian institutions refuse to?

Did JVP lie About TIAA-CREF?

Did JVP lie about TIAA-CREF's divestment from Caterpillar? Did JVP lie about their "huge" victory?

An email from Adalah NY certainly implies that the victory may not have been quite as "huge" as JVP originally claimed. Once again TIAA-CREF is being targeted for not doing what JVP claimed they already did. Can't keep up with the lies? Don't worry. None of us can. Incidentally, Adalah NY has been involved with the JVP campaign since the very beginning- Adalah members attended Rebecca Vilkommerson's campaign launch 2 years ago. With $900 million remaining in Caterpillar stock, I'd be willing to venture that TIAA-CREF's "divestment" wasn't quite as "huge" a victory as JVP originally claimed

Be afraid, TIAA-CREF. Be very afraid. Adalah is going to SING. And DANCE. And CHANT. That'll show you.

************


Adalah NY's email:

Tell TIAA-CREF, Divest from the Israeli Occupation!

What: A street action with songs, music, dancing, and chants calling on TIAA-CREF to divest from the Israeli occupation of Palestine
When: Tuesday, July 17, 12:30 - 2:30 PM
Where: TIAA-CREF headquarters in New York - 730 3rd Ave (between 45th and 46th Sts)

Why: TIAA-CREF has made a historic decision to divest $72.9 million of Caterpillar stock from their Social Choice fund. But this is only the beginning! TIAA-CREF still invests over $900 million in Caterpillar in other portfolios. In addition, its Social Choice fund contains investments in Motorola Solutions, which developed the surveillance and communications systems for use in illegal Israeli settlements and the apartheid wall, and Hewlett-Packard, which owns the biometric monitoring system used in Israeli military checkpoints, provides data storage solutions for illegal Israeli settlements, and coordinates information technology for the Israeli Navy. TIAA-CREF also continues to hold onto its investments in Elbit, Veolia, Northrup Grumman, and Africa Israel, all of which are complicit in the illegal Israel occupation of Palestine.

Join us on July 17 during the TIAA-CREF shareholders' meeting to demand that TIAA-CREF live up to its motto "For the Greater Good" and divest from all its holdings in companies profiting from the violation of international law and Palestinian human rights.

***********

For more information on the campaign, visit our TIAA-CREF campaign page and WeDivest.org.

Organized by Adalah-NY. Endorsed by Brooklyn For Peace; Jewish Voice for Peace - NY; Jews Say No!; Siegebusters; Queers Against Israeli Apartheid; International Socialist Organization; Jewish Voice for Peace - Westchester; WESPAC Foundation; Women in Black, Union Square (list in formation).


Adalah-NY: The New York Campaign for the Boycott of Israel
c/o WESPAC Foundation
52 North Broadway
White Plains, NY 10603
United States

Jewish Voice for Peace, TIAA - CREF and Caterpillar: The Newest BDS hoax?

Its beginning to look a lot like a BDS hoax- as ubiquitous as kitten pictures and porn on the web. All the signs were there from the very beginning. Sweeping proclamations from the anti-Israel lobby, spammed and tweeted with no confirmation from any neutral source, and no coverage in the mainstream media. The Forward briefly ran an article based on the JVP press release, quickly realized they'd been had, and quietly removed it. Oops.

From Divest This- the web's single most reliable site on BDS:

"To begin with, the story is not accompanied by any statement from TIAA-CREF itself that it has taken any action that could be described as political in nature. Which makes sense once you realize that CREF is still heavily invested in the company the boycotters are claiming as a divestment win (the long suffering Caterpillar Corporation).

In fact, if you dig a little deeper it looks like CREF did not make any politically related investment or divestment decision at all, but rather that one of its funds (one targeting social investors) was following the lead of an independent research firm (MSCI) which generates an index which many “Social Responsibility” investment funds use to determine what will and will not be included in their portfolios.

Now earlier this year, MSCI downgraded and eventually removed Caterpillar from their index, which means that CREF was just following along with a decision made by an independent researcher, not making a judgment regarding Caterpillar on its own (as reflected by the fact that other funds managed by CREF still hold millions in Caterpillar stock).

Which brings us to the question of why did MSCI (an organization none of us – including the BDSers – ever noticed or mentioned until just this week) made the decision they did regarding Caterpillar?

BDS press releases do a masterful job of claiming victory while never citing a single quote (or anything specific) that would indicate that this decision was based on their effort – or anything having to do with the Arab-Israeli conflict for that matter. (As usual, Jewish Voice for Peace goes to the furthest rhetorical extreme, claiming that TIAA CREF not only made a specific decision to divest from Israel, but did so in defiance of a US Congressman - with no evidence supporting either contention/invention, of course.)

Might MSCI have taken into account some of the faux controversy the BDSers themselves have generated in judging whether Caterpillar was in or out? Or might some of the union issues the company has been facing been a deciding factor?

We don’t know (but many of us are trying to find out). But given the total lack of evidence those touting the “BDS victory” narrative have produced, I think it’s safe to say that we’re looking at another situation where a business decision with no specifically known motivation is being sold by the boycotters as a result of their work. And given the boycotter’s track record for fraudulently trying to pass off similar stories in the past, I think it’s safe to ignore any BDS bombast until they can produce for us a quote from TIAA-CREF itself (the company they are claiming to have done the BDSers’ bidding) confirming the story."

In spite of JVP's laughable flash mobs and petitioning, TIAA CREF has held firm regarding divestment , stating in an open letter:

"While TIAA-CREF acknowledges participants’ varying views on Israeli and Palestinian policies and the Gaza Strip and West Bank, we are unable to alter our investment policy in accordance with those views. Our responsibility to earn a competitive financial return on the retirement savings entrusted to us by 3.7 million participants obliges us to invest in a diverse line-up of companies across all sectors of the global economy."

The Crusade Against Caterpillar: A JVP kind of "Victory"

JVP has made an announcement regarding Tiaa Cref. Its "Huge", they screamed "HUGE". Frankly, its hard to take them seriously- they've been caught manipulating the truth so many times.

From the very beginning, the crusade against Caterpillar was fraught with manipulation and deception. In late 2009, the UC campaign to end Israeli occupation send out an email, urging anti-Israel activists (sit down for this one) to buy Caterpillar stock.

Hello all,
If you were at our annual Organizers' Conference last September, you already know that we're asking supporters of the Stop Caterkiller campaign to each purchase one share of Caterpillar stock before the end of the year.
While it may seem odd for a group pushing for divestment to encourage purchasing Caterpillar stock, there is a method to our madness. The real point of shareholder divestment is to pressure the corporation to divest of it's activities in the area of concern. With this in mind, once you become a Caterpillar shareholder you can 1) vote in favor of our resolution at the shareholder meeting and 2) support our protest activities inside the meeting by either attending yourself or designating a proxy. The reason we would like more turnout from our supporters at the shareholder meeting is that this has been the area where we've had the most success garnering media attention. The annual shareholder meeting is Caterpillar's day in the media's sun and if we can turn the attention from Cat's finances to their activities in Israel/Palestine it is a win for our campaign.

National Organizer US Campaign to End the Israeli Occupation Katherine M. Fuchs went on to explain her "inside strategy"

"Three important things to keep in mind as you purchase stock and encourage friends to do the same:
Our purchasing of Cat stock should be kept quite for now. If Caterpillar learns of this strategy they may change the rules of the meeting to require more than one share for entry.
Time is of the essence. The cut-off date for shareholders receiving invitations to the meeting is fast approaching; I believe that this cut-off date is the end of the calendar year, so act now!
Let us know when you've confirmed your stock purchase so we can be in contact with you about shareholder meeting plans. You can email me at organizer@endtheoccupation.org or call our office at 202-332-0994."

Ms Fuchs adds detailed instruction on just how to buy the stock (and which brokerage to use!) She reminds her followers that they can purchase one share of Caterpillar stock for approximately $58.00. As of today, one share of Caterpillar stock sells for $84.98. This gives you an idea of just how successful the Caterpillar crusade has been.

Katherine's "Inside strategy" fell flat on its face. At this time Tiaa Cref became targeted by the BDS'ers leading to yet another BDS hoax, chronicled at Divest this:

"To give you an idea of how powerful and effective the divestment project has become, they now have the ability to get companies to act on their demands four months before those demands are even made!"

By 2010, Jewish Voice for Peace was entrusted with the Caterpillar Crusade by their handlers at the US Campaign. They launched their crusade in June of 2010 in New York City, with the goal of urging Tiaa Cref to divest from 6 companies: Veolia, Elbit, Northrop Grumann, Caterpillar, Motorola and Alon USA. For Rebecca Vilkomerson, it was important to consider Tiaa-Cref divestment a long term campaign. She whined piteously "If we had a flotilla a week it can be much faster."

Two full years after JVP took the reins, what do we know? We know JVP and their allies are crowing victory all over the web, because Caterpillar no longer trades in the "Socially Conscience" Funds through Tiaa Cref. Was it a political decision? Was it economic? Did it have the least bit to do with JVP's bullying, flash mobs and petitioning? Tiaa Cref continues to hold millions of dollars of shares of Caterpillar. Thats not divestment. We also know that the other 5 companies weren't even on the drawing board.

What kind of huge victory divestment victory leaves millions invested? What kind of huge divestment victory leaves 5 out of 6 companies untouched? A JVP kind of victory.

Stanford Caterpillar protest falls flat

The announcement went out to dozens of lists. It read:
Dear People of Conscience,

"The CEO of Caterpillar is speaking Thursday May 24th at 12 PM in Cemex Auditorium. Caterpillar violates international law and principles of human rights by supplying bulldozers to the Israeli military to illegally demolish Palestinian homes. Since 1967 Israel has illegally demolished about 25,000 Palestinian homes in East Jerusalem, Gaza, and the West Bank. The CEO of Caterpillar obviously thinks profits are more important than international law, human rights, and the livelihoods of tens of thousands of innocent people. Join Students for Palestinian Equal Rights to demonstrate against home demolitions and violations of international law and human rights. We will show our discontent with Caterpillar's unethical and illegal business practices Thursday May 24th at 12 PM outside Cemex Auditorium. Stand up for human rights and the tens of thousands of displaced Palestinians."

So, Josh, what if you gave a protest and no one came?

There was a total of 3 protesters standing quietly outside the auditorium, completely ignored and irrelevant. Inside there were about 200 students listening attentively to Caterpillar CEO, Doug Oberhelman. What did they hear? For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar remains the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, much to the profound annoyance of the BDS cru.

Oh, yes. The issue of Israel never came up.

So Josh Schott. How does it feel to be irrelevant?

Caterpillar Stock Soars. BDS irrelevant. Once again

For seven years Anna Baltzer and the US Campaign to end Israel have harassed, pestered, poked, plagued, molested, provoked and annoyed the Peoria Illinois based Caterpillar company, claiming "The National CAT Campaign is making waves every day. From trade unions to churches, citizens of conscience are successfully encouraging their institutions to divest from Caterpillar, Inc"

What do they have to show for their efforts?

Not much apparently.

From Reuters
"Caterpillar Inc far exceeded analyst expectations on Monday, reporting a 44 percent quarterly earnings increase due to record revenue, and the company signaled optimism in its 2012 outlook.
The Peoria, Illinois, company said it expects full-year 2011 profit and revenue to be at the top end of its previous outlook range due to strong demand. In 2012, the company sees revenue increasing 10 percent to 20 percent above the $58 billion in sales it expects this year, although it continues to make contingency plans for a potential downturn.
Caterpillar said it ended the third quarter in one of the healthiest positions in its recent history. Backlog orders standing at record levels and higher commodity prices leading to a favorable environment for its growing mining business. The company expects to post record results in 2011 and improve on those results next year."

The US Campaign has had a long standing vendetta against Caterpillar, calling them the "company which best exemplifies the interest of US corporations in the Occupation".

Join me in asking Anna Baltzer and the US Campaign: How does it feel to be irrelevant?

Caterpillar stock surges: Bds'ers wring their hands in despair

Its another sterling example of the failure of BDS.

Caterpillar "Caterkiller"- a manufacturer of heavy construction equipment has been the center of attention for Team Hate for quite a while. For years, in fact, there has been heavy pressure on Caterpillar to "divest " from Israel, along with pressure on various institutions to "divest" from Caterpillar. The US Campaign to end the occupation gives out free Stop Caterpillar kits, which the vast worldwide Zionist conspiracy has been utilizing well.
Kathleen Fuchs, formerly involved with the US campaign, actually proposed buying Caterpiller shares at one point, in an effort to gain a voice at the shareholders convention

With all this attention on Caterpillar, what effect to do think this has on the company's finances?
Nothing. Nada. Zip. Zero.

From Today's Reuters Report
"A strong showing by Caterpillar and other U.S. industrials' shares led the market higher on Friday, putting the Dow on track for its best month since December...
Heavy machinery manufacturer Caterpillar Inc (CAT.N) climbed after reporting a fivefold increase in quarterly profit and raising its full-year forecast.
"This is another sign of how manufacturing is leading the economy," said Eli Lustgarten, senior research analyst for the industrial machinery sector at Longbow Securities in St. Louis. "We think Caterpillar is fairly valued, but you have to be impressed with what they delivered. No matter what, this will be a good year for them."

To Anna Baltzer: What I did with My Caterkiller campaign kit.

The US Campaign to end the Occupation will generously send activists...any activists...campaign kits. Included are postcards, posters, cd's- an entire toolbox of props designed to perpetuate the demonization of Israel. The new National Organizer for the Campaign, Anna Baltzer recent sent out an email asking us just what we did with the literature her organization generously provided

Dear friends,

I just started as National Organizer with the US Campaign and am trying to gather information on past and present work by US groups on the Caterkiller Campaign, which will inform how we proceed with the campaign.
If you're getting this it's because you've probably ordered our CAT organizing packets in the past. Would you be willing to take a moment to answer some or all of the questions below?:

1. Did you find the CAT organizing packets useful? Do you have any suggested improvements?
2. What work has your group done on the CAT campaign in the past?
3. Do you continue to advocate for CAT accountability? If so, how? If not, why not?
4. Can you share any ideas or lessons learned that would inform how we proceed with the campaign?

If you'd prefer to talk about this by phone rather than email, please send me some times you'd be available and we'll set a date!
Thanks in advance, everyone,

Anna


Dear Anna,

I used the Caterkiller campaign kit as kindling for my organizations annual Lag B'Omer bonfire. I am extremely pleased with its performance. It ignited perfectly, and burnt clean and quickly. Thank you for asking.



It is traditional to light bonfires on Lag B'Omer. Lag B'Omer is the anniversary of the death of Rabbi Shimon bar Yochai, author of the Zohar. The Zohar (The Shining Light) deals with the mystical teachings of the Torah and forms the basis for Kabbalah. Taking this a step further, it is the tradition of local Israel activist groups to kindle a bonfire using the accumulated refuse of hate groups such as the US Campaign. Request your kit here www.endtheoccupation.org/form.php?modin=157 and remember, the best tool against darkness in our world is simply increasing the light.




UPDATE:


Kudos to Jack for sending in this photo of a creature (gremlin? Rabbit? any guesses?) making great use of his Caterkiller activists kit. Way to go Jack!