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."
Showing posts with label Tiaa Cref. Show all posts
Showing posts with label Tiaa Cref. Show all posts
Friday, June 22, 2012
Thursday, June 21, 2012
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.
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.
Saturday, July 16, 2011
JVP, Tiaa Cref and Pointless Gestures
Some friends of ours emailed us a copy of their TIAA CREF proxy statement, proudly showing their support for Israel, in what they felt was a highly visible and effective manner
And while we were delighted about the support, we explained that proxy statements went to independent tabulating firms, not to Tiaa Cref, and this was an ineffective way to make a pro-Israel statement to their retirement fund.
Generally, its the anti-Israel activists who expend their energy in ineffective manners. Divest this points out this cringe-worthy "flash mob" (lacking, as commenters have pointed out , both "flash" and "mob")
From Divest this:
"Well we defenders of Israel might as well throw in the towel now that BDS advocates have decided to triple down on their “Flash Mob” strategy of pulling 8-12 people together to break into incoherent song and dance at telephone stores or (more recently) a meeting of TIAA CREF here in Boston. After all, who can possibly withstand the awesome political power of images such as this:"
JVP's scheme to coerce Tiaa Cref to divest from Israel's "resilient, globally-oriented and technologically advanced" economy was launched in New York June 10, 2010 , with a coalition that consisted of Code Pink (3 members), Brooklyn for Peace, Veterans for Peace (2 members), Jews Say No, and Adalah (2 members) It was a long term 3-5 year campaign, with organizers declaring "We don’t think we can win in 6 months or a year."... and wistfully mentioning "If we had a flotilla a week it can be much faster."
And they were right. In a full year, they've only managed to gather signatures on an on-line petition, the vast majority from anti-Israel activists world wide who do not hold accounts with Tiaa Cref. And yes, they've managed to get a half dozen or so folks willing to make fools of themselves on youtube. Over and over. And then there was this baffling email from JVP's own Alice Rothchild where she states "CREF has chosen to refuse to share with its own investors a shareholder proposal submitted by nearly 20 of their participants--including me" . Nearly 20, Alice? NEARLY 20? Tiaa Cref serves over 3.7 million individuals and more than 15,000 institutions. Persumably one of the main reasons for their success is that they don't allow "nearly 20" to dictate sound investment strategies for the other 3,699,980.
There is another day o'rage scheduled against Tiaa Cref July 19. Expect more "flash mobs". Yawn. Stay tuned.
And while we were delighted about the support, we explained that proxy statements went to independent tabulating firms, not to Tiaa Cref, and this was an ineffective way to make a pro-Israel statement to their retirement fund.
Generally, its the anti-Israel activists who expend their energy in ineffective manners. Divest this points out this cringe-worthy "flash mob" (lacking, as commenters have pointed out , both "flash" and "mob")
From Divest this:
"Well we defenders of Israel might as well throw in the towel now that BDS advocates have decided to triple down on their “Flash Mob” strategy of pulling 8-12 people together to break into incoherent song and dance at telephone stores or (more recently) a meeting of TIAA CREF here in Boston. After all, who can possibly withstand the awesome political power of images such as this:"
JVP's scheme to coerce Tiaa Cref to divest from Israel's "resilient, globally-oriented and technologically advanced" economy was launched in New York June 10, 2010 , with a coalition that consisted of Code Pink (3 members), Brooklyn for Peace, Veterans for Peace (2 members), Jews Say No, and Adalah (2 members) It was a long term 3-5 year campaign, with organizers declaring "We don’t think we can win in 6 months or a year."... and wistfully mentioning "If we had a flotilla a week it can be much faster."
And they were right. In a full year, they've only managed to gather signatures on an on-line petition, the vast majority from anti-Israel activists world wide who do not hold accounts with Tiaa Cref. And yes, they've managed to get a half dozen or so folks willing to make fools of themselves on youtube. Over and over. And then there was this baffling email from JVP's own Alice Rothchild where she states "CREF has chosen to refuse to share with its own investors a shareholder proposal submitted by nearly 20 of their participants--including me" . Nearly 20, Alice? NEARLY 20? Tiaa Cref serves over 3.7 million individuals and more than 15,000 institutions. Persumably one of the main reasons for their success is that they don't allow "nearly 20" to dictate sound investment strategies for the other 3,699,980.
There is another day o'rage scheduled against Tiaa Cref July 19. Expect more "flash mobs". Yawn. Stay tuned.
Sunday, June 13, 2010
Jewish Voice for Peace takes on TIAA- CREF
Jewish Voice for Peace, the “Proud to be Ashamed to be Jewish “ arm of the movement to delegitimitze Israel has long attempted without success to make inroads into the New York Jewish community. On June 10 JVP and Adalah held a meeting at Judson Church (knowing full well that no synagogue or Jewish community center would agree to host them) 28 people attended. Of that group, a half dozen were committed Zionists
JVP is at the forefront of the US boycott, sanctions and divestment movement seeking to economically socially and cultural isolate the only democracy in the Middle East. Boasting of their growth and support, they have claimed 100,000 “members” on their e-mail subscription list, 30,000 who have contributed money and 10,000 who are "core". The New York group remains limited to 10-15 active members. (Hmm, Rebecca, of the 1,600,000 million Jews in New York, sure doesn’t seem like your movement is meeting with a great deal of success)
JVP used the Judson Church venue to launch their latest scheme. Tiaa Cref is one of the largest financial services in the U.S. and one of the largest pension funds in the world with over $400 Billion dollars invested. The hope of the JVP plan (estimated to take 3-5 years to implement ) is that they might create a domino effect with other companies involved in business within Israel.
The lucky companies that will be the focus of JVP;s attention include:
1. VEOLIA (French company -124 M.)
2. ELBIT (Israeli company- 2.1 million)
This company manufactures surveillance equipment for the Separation Wall (security fence). It was mentioned that they are also providing equipment for the border in New Mexico and Arizona.
3. NORTHROP GRUMMAN (U.S. company- 177M.)
This company manufactures parts for the Apache helicopters and F-16’s “used against civilians in Gaza”.
4. CATEPILLAR (U.S. company- 216.M)
This company manufactures bulldozers according to IDF specs
5. Motorola (111M)
This company provides communication for the IDF and the security fence.
6. ALON USA, a subsidiary of the ALON GROUP, through its subsidiary DOR ALON, holds the monopoly to the gas supplied to Gaza
TIAA-CREF has $500 million invested in these companies.
JVP’s plan ? They are starting with a petition, and are hoping to have 10,000 signatures by the end of the year; with at least half TIAA-CREF investors. The primary target will be Universities and professors.
And of course, there will be a “civil rights” theme, with JVP and its allies claiming these six companies role in the “occupation” act together to deprive the Palestinians of the right to education and access to health care. They’d be neglecting the fact that under Israel’s “brutal and genocidal occupation”:
... mortality rates in the West Bank and Gaza fell by more than two-thirds between 1970 and 1990, while life expectancy rose from 48 years in 1967 to 72 in 2000 (compared with an average of 68 years for all the countries of the Middle East and North Africa). Israeli medical programs reduced the infant-mortality rate of 60 per 1,000 live births in 1968 to 15 per 1,000 in 2000 (in Iraq the rate is 64, in Egypt 40, in Jordan 23, in Syria 22). And under a systematic program of inoculation, childhood diseases like polio, whooping cough, tetanus, and measles were eradicated.
No less remarkable were advances in the Palestinians' standard of living. By 1986, 92.8 percent of the population in the West Bank and Gaza had electricity around the clock, as compared to 20.5 percent in 1967; 85 percent had running water in dwellings, as compared to 16 percent in 1967; 83.5 percent had electric or gas ranges for cooking, as compared to 4 percent in 1967; and so on for refrigerators, televisions, and cars.
Finally, and perhaps most strikingly, during the two decades preceding the intifada of the late 1980's, the number of schoolchildren in the territories grew by 102 percent, and the number of classes by 99 percent, though the population itself had grown by only 28 percent. Even more dramatic was the progress in higher education. At the time of the Israeli occupation of Gaza and the West Bank, not a single university existed in these territories. By the early 1990's, there were seven such institutions, boasting some 16,500 students. Illiteracy rates dropped to 14 percent of adults over age 15, compared with 69 percent in Morocco, 61 percent in Egypt, 45 percent in Tunisia, and 44 percent in Syria.
Lucky Tiaa Cref has received the attention of the BDS crowd before, when routine reallocation of assets was touted to be yet another victory for divestment:
And yes, JVP, there will be opposition. You can count on it. People of good will and integrity reject BDS and know that the real path of peace is more economic ties, more cultural ties, more social ties between people, and that JVP’s latest attempt to isolate the only democracy in the Middle East is again doomed to failure
JVP is at the forefront of the US boycott, sanctions and divestment movement seeking to economically socially and cultural isolate the only democracy in the Middle East. Boasting of their growth and support, they have claimed 100,000 “members” on their e-mail subscription list, 30,000 who have contributed money and 10,000 who are "core". The New York group remains limited to 10-15 active members. (Hmm, Rebecca, of the 1,600,000 million Jews in New York, sure doesn’t seem like your movement is meeting with a great deal of success)
JVP used the Judson Church venue to launch their latest scheme. Tiaa Cref is one of the largest financial services in the U.S. and one of the largest pension funds in the world with over $400 Billion dollars invested. The hope of the JVP plan (estimated to take 3-5 years to implement ) is that they might create a domino effect with other companies involved in business within Israel.
The lucky companies that will be the focus of JVP;s attention include:
1. VEOLIA (French company -124 M.)
2. ELBIT (Israeli company- 2.1 million)
This company manufactures surveillance equipment for the Separation Wall (security fence). It was mentioned that they are also providing equipment for the border in New Mexico and Arizona.
3. NORTHROP GRUMMAN (U.S. company- 177M.)
This company manufactures parts for the Apache helicopters and F-16’s “used against civilians in Gaza”.
4. CATEPILLAR (U.S. company- 216.M)
This company manufactures bulldozers according to IDF specs
5. Motorola (111M)
This company provides communication for the IDF and the security fence.
6. ALON USA, a subsidiary of the ALON GROUP, through its subsidiary DOR ALON, holds the monopoly to the gas supplied to Gaza
TIAA-CREF has $500 million invested in these companies.
JVP’s plan ? They are starting with a petition, and are hoping to have 10,000 signatures by the end of the year; with at least half TIAA-CREF investors. The primary target will be Universities and professors.
And of course, there will be a “civil rights” theme, with JVP and its allies claiming these six companies role in the “occupation” act together to deprive the Palestinians of the right to education and access to health care. They’d be neglecting the fact that under Israel’s “brutal and genocidal occupation”:
... mortality rates in the West Bank and Gaza fell by more than two-thirds between 1970 and 1990, while life expectancy rose from 48 years in 1967 to 72 in 2000 (compared with an average of 68 years for all the countries of the Middle East and North Africa). Israeli medical programs reduced the infant-mortality rate of 60 per 1,000 live births in 1968 to 15 per 1,000 in 2000 (in Iraq the rate is 64, in Egypt 40, in Jordan 23, in Syria 22). And under a systematic program of inoculation, childhood diseases like polio, whooping cough, tetanus, and measles were eradicated.
No less remarkable were advances in the Palestinians' standard of living. By 1986, 92.8 percent of the population in the West Bank and Gaza had electricity around the clock, as compared to 20.5 percent in 1967; 85 percent had running water in dwellings, as compared to 16 percent in 1967; 83.5 percent had electric or gas ranges for cooking, as compared to 4 percent in 1967; and so on for refrigerators, televisions, and cars.
Finally, and perhaps most strikingly, during the two decades preceding the intifada of the late 1980's, the number of schoolchildren in the territories grew by 102 percent, and the number of classes by 99 percent, though the population itself had grown by only 28 percent. Even more dramatic was the progress in higher education. At the time of the Israeli occupation of Gaza and the West Bank, not a single university existed in these territories. By the early 1990's, there were seven such institutions, boasting some 16,500 students. Illiteracy rates dropped to 14 percent of adults over age 15, compared with 69 percent in Morocco, 61 percent in Egypt, 45 percent in Tunisia, and 44 percent in Syria.
Lucky Tiaa Cref has received the attention of the BDS crowd before, when routine reallocation of assets was touted to be yet another victory for divestment:
And yes, JVP, there will be opposition. You can count on it. People of good will and integrity reject BDS and know that the real path of peace is more economic ties, more cultural ties, more social ties between people, and that JVP’s latest attempt to isolate the only democracy in the Middle East is again doomed to failure
Subscribe to:
Posts (Atom)