Shareholder proposal filed on Wal-Mart labor
Shareholder proposal filed on Wal-Mart labor
From Pensions and Investments Online:
New York City Employees’ Retirement System and Illinois State Board of Investment, Chicago, introduced a shareholder proposal at Wal-Mart Stores Inc. calling for the company’s board of directors to issue a report on the company’s alleged failure to comply with International Labor Organization standards on workers’ rights.
“As shareholders, we are concerned with the vast reports of noncompliance with international labor standards in Wal-Mart’s operations, rendering the company a negative reputation and causing (it) considerable economic harm,” William R. Atwood, executive director of the $11.9 billion Illinois fund, wrote in a letter to Thomas D. Hyde, corporate secretary of Wal-Mart.
Representatives of the two funds have talked with Wal-Mart officials about the concern but failed to reach agreement, prompting the funds to sponsor the proposal, Mr. Atwood said in an interview.
The $37 billion NYCERS owns 2,953,214 Wal-Mart shares and ISBI, 451,055 shares.
Wal-Mart officials declined to comment on the talks or the proposal, said John Smiley, spokesman for the Bentonville, Ark.-based company. Wal-Mart’s annual meeting hasn’t been scheduled yet but is typically in June, said Jami Arms, Wal-Mart spokeswoman.
Posted by Laura - January 16, 2007 12:14 PM - In The News
© 2005 United Food and Commercial Workers International Union. Privacy Policy
This site is in no way connected with Wal-Mart Stores, Inc. or any affiliate of Wal-Mart Stores, Inc.
The views expressed in the comments posted on this site are those of persons writing those comments and not necessarily those of the Change Wal-Mart Association, WakeUpWalMart.com, or the United Food and Commercial Workers International Union. The Change Wal-Mart Association, WakeUpWalMart.com and the United Food and Commercial Workers International Union do not vouch for the accuracy or truthfulness of any posted statement or opinion.
From Pensions and Investments Online:
New York City Employees’ Retirement System and Illinois State Board of Investment, Chicago, introduced a shareholder proposal at Wal-Mart Stores Inc. calling for the company’s board of directors to issue a report on the company’s alleged failure to comply with International Labor Organization standards on workers’ rights.
“As shareholders, we are concerned with the vast reports of noncompliance with international labor standards in Wal-Mart’s operations, rendering the company a negative reputation and causing (it) considerable economic harm,” William R. Atwood, executive director of the $11.9 billion Illinois fund, wrote in a letter to Thomas D. Hyde, corporate secretary of Wal-Mart.
Representatives of the two funds have talked with Wal-Mart officials about the concern but failed to reach agreement, prompting the funds to sponsor the proposal, Mr. Atwood said in an interview.
The $37 billion NYCERS owns 2,953,214 Wal-Mart shares and ISBI, 451,055 shares.
Wal-Mart officials declined to comment on the talks or the proposal, said John Smiley, spokesman for the Bentonville, Ark.-based company. Wal-Mart’s annual meeting hasn’t been scheduled yet but is typically in June, said Jami Arms, Wal-Mart spokeswoman.
Posted by Laura - January 16, 2007 12:14 PM - In The News
© 2005 United Food and Commercial Workers International Union. Privacy Policy
This site is in no way connected with Wal-Mart Stores, Inc. or any affiliate of Wal-Mart Stores, Inc.
The views expressed in the comments posted on this site are those of persons writing those comments and not necessarily those of the Change Wal-Mart Association, WakeUpWalMart.com, or the United Food and Commercial Workers International Union. The Change Wal-Mart Association, WakeUpWalMart.com and the United Food and Commercial Workers International Union do not vouch for the accuracy or truthfulness of any posted statement or opinion.
posted by Walking Contradiction at 12:57 AM
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