Netanyahu asks U.S. pension fund to quit companies dealing with Iran
Head of Massachusetts $64B pension fund says considering former PM's request; Pulling of funds meant to pressure Iran to halt nuclear program.
By ReutersOpposition leader Benjamin Netanyahu on Tuesday asked one of the biggest U.S. pension funds to pull money out of companies doing business with Iran because of fears over possible development of nuclear weapons.
"This allows you to use economic pressure that might obviate the need to use different measures," former prime minister Netanyahu told reporters after the hour-long meeting with Massachusetts Treasurer Tim Cahill. "It actually might work given Iran's own vulnerabilities."
Cahill and Michael Travaglini, executive director of the state's $46 billion pension fund, said they would consider the request.
Representatives of Rhode Island and New Hampshire, which have smaller pension funds, also attended the meeting.
Iran has been accused by the West of secretly seeking nuclear weapons, but Tehran has said its nuclear program is designed only to generate electricity. On Monday, Iran banned 38 of the UN's International Atomic Energy Agency (IAEA) inspectors from working in the country.
Netanyahu urged Massachusetts officials to act quickly to try to help stop Iran's nuclear program. "The clock is ticking," he said.
Netanyahu is due to meet with California Governor Arnold Schwarzenegger, whose state's Public Employees' Retirement System, Calpers, manages the world's biggest pension fund with $225 billion.
On Sunday, Netanyahu said he hoped to bring Iranian President Mahmoud Ahmadinejad to international trial for incitement to genocide. Ahmadinejad provoked international outcry by referring to the killing of six million Jews in World War Two as a "myth" and calling for Israel to be "wiped off the map."
Cahill said divesting from Iran was "something we should look at" but said he does not want to bring politics into investing and would make sure that fund's strong performance record would not be jeopardized.
Israel is widely believed to have the Middle East's only nuclear arsenal and has said it would not allow neighboring Iran to obtain nuclear weapons.
Former Massachusetts Governor Mitt Romney, currently visiting Israel, helped set up the meeting between Cahill and Netanyahu. Romney has also called for sanctions against Iran.
In the past, Massachusetts divested from South Africa and Northern Ireland over social and political issues.
The state's legislature, which needs to initiate such action, is currently debating taking money out of companies doing business with Sudan to protest genocide in its Darfur region. Travaglini and Cahill said one option might be to add Iran to the proposal about Sudan.
The state's pension fund has roughly $800 million invested with companies doing business with Sudan but has no estimate of how much is invested with companies doing business with Iran, Travaglini said.
The U.S. state Missouri said last year that it would stop investing in companies doing business with Iran.
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Bibi sure has chutzpah, and Romney has demonstrated that he is a racist, Mormon bigot and a treasonous quisling for displaying his fawning acquiescence and by cooperating with the apartheid state of Israel. Gov. Romney is an Israel-firster American who wants to be the next US President. We have seen the tragic results for America when Israel-firsters control US foreign policy. The USA and Israel are being slowly isolated and properly identified as dangerous pariah states. Yes, Pres. Carter is right, the plight of the inidigenous peoples of Palestine, in the OPT, is worse than that endured by African native peoples during the infamous South African apartheid period. In Israel itself, it's "Jim Crow", Jewish style. Arab Israelis survive on incomes that are, on average, one-third the income of their Jewish countrymen. That's Jim Crow, baby! Each US state and the USA collectively should boyctt the Israeli oppressors, not their hapless victims. Romney has it all backwards.
To "ballistic" and others like him or her: Israeli people and the Israeli government are not one and the same, just as you are not one and the same as many in the US governement (e.g., those whose policies you dislike & for whom you did not vite). Similarly, "Jews" and "Israelis" are not one and the same -- there are over 1 million non-Jewish Israelis and over 6 million non-Israeli Jews (and who, acordingly, have nothing to do with choosing who is in the Israeli government or what policies and practices the Israeli government employs). Stand up and be a real American -- own up to our our government's choices as its own, and to our choices in putting them in office. And don't give me the BS about the "Israel lobby" -- they are not that powerful and it is an insult to all proud Americans to assert that we and our freely-elected governement are so gullible, so simple-minded, so unsophisticated, etc. to allow one single interest alone determine our policies.
...sophisticated thinking. I assume, have read your learned post, that you know what Israel has or does not have, and probably other information that you choose not to share with us at this point. I also assume that your knowledge is so wide and deep in matters of military, economics, history, sociology and other related fields on the basis of which you know what Iran can and cannot do, and what Iran intends and does not intend to do. Thank you, thank you very much for your enlightned note. P.S. I understand the front troops of Iran - the Hizballah - have called off their present confrontation with the democratically elected government of Lebanon. What is the matter, not enough support among the Lebanes public in the thugs of Hizballah?
This is a typical PR exercise by Netanyahu, he ends up smelling of roses without having to do anything. Politics has never and will never be allowed to get in the way of profiteering as the treasurer bluntly stated "he does not want to bring politics into investing and would make sure that fund's strong performance record would not be jeopardized." Aside from that the vast majority of the major multinationals investments in Iran and other unpopular nations are conducted through a web of hidden shell companies which are almost impossible to trace back.
Those of us in the Diaspora who have invested substantial time, energy, and other resources, including our reputations and credibility in efforts to discourage and/or prevent pension fund divestments from Israeli companies and/or other companies doing business with Israeli companies or government are chagrinned to learn that Netanyahu is advocating divestment from companies doing business with Iran. We are no fans of Iran's current government and hope that non-violent means will stop its anti-Israel, anti-Jewish, anti-women, anti-American and anti-European rhetoric and actions. However, Bibi's promotion of divestment at this point is a slap in the face of we who have fought for Israel on this matter. His short-sighted strategy hurts our credibility when we speak against divestment from Israel and may very well hurt Israel down the road. Israelis should consider his poor judgement and failure to fully assess and understand the pro's and con's of his latest "strategy" when they vote.
The Massachsetts pension fund is likely invested in oil companies (after it gambled away 20mio to Enron by still investing after Enron defaulted). The oil companies invest in Iran. The U.S. needs Iranian oil. How will Bush guarantee the large profits to his buddies in the oil industry, keep gasoline consumers at bay and divest from Iran? Mr. Netanyahu will qualify for inciting violence.
You are a loser supporting another crazy loser. As much as you want to see this Ahmad-ninja suceed you will really be disappointed because he doesn't represent the majority of the muslim people only terrorist like you.
marwan are you a pro-zionist an arab!!!look into the mirror and ask yourself if the IDF will hesitate blowing your car in lebanon ..just think
how can someone in these days can wipe out a country which hold 200 nuclear weapons ...words ..words no value just words ,,i hope iran will devlope nuclear weapons at least peace will be forced on you works both ways ,....ignorant
Iran can't even refine enough oil for his own consumption. Come March,Iran is starting fuel rationing. How pathetic,one of the biggest producer of oil do not have enough fuel for its own people and yet Ahmaddinejad has all the money for his terrorist friends. Indra,can you imagine if the oil price drop further to US40.00/barrel what would happen to Ahmadinejad,his butt will be kicked so hard by his own people he will not know what hit him. Off course Ahmadinejad will not allow it to drop to that level and he will instruct Hamas or Hizbollah to start a war with Israel to safe his own skin.
He'd better rush: most pension funds are currently divesting themselves of anything that has to do with so-called Israel. The anti-Israel boycott has gained in strength, particularly in the labour movement.
A look at the list of the companies might be very interesting and potentially embarrassing to some. Does it include Dupont, Haliburton, Texaco, Exxon-Mobil, Dow Chemical? Just who are these companies?
By all accounts, including even Ahmadinejad's statements, Iranian economy is in an unprecedented slump. Sanctions have significantly hurt Iranian economy and even without it Ahmadinjad's mismanagement of the it has caused his supporters to lose in the recent elections. Many Iranians don't like what Iranian image is, many oppose Ahmadinejad and his regime. Thousands of political prisoners have been thrown by him into prisons. Meanwhile Iran imports 40% of its oil because it has not refineries. Iran is nothing but a paper tiger and you should read more facts before defending the failed regime of Ahmadinejad.
Its not only Israel who is concerned...countries from Saudi Arabia, Kuwait, Egypt, all of EU and most of the civilized world is opposed to Iranian nuclear arms and their Imperialistic ambitions. Israel is just the country voicing its concern the loudest because the Iranian Fuhrer has already stated his intentions to destroy Israel. If that's not the ranting of madman, try a madman with a nuke. Israel was right about Iraqi nuclear programme destoyed in '81. The world thanked them for it years later. They have a right to be concerned. Your cowardly appeasement of Tehran's policies is just typical of left-wing hypocracy, just like in '39.
Any money going to Iran is money used by Ahmadinejad to continue supporting terrorism, instability, global jihadist ideology and nuclear programme. Full embargo on Iran and Syria. That means EU countries, Russian and China should face real penalties for continuing supporting the fascist regime of Ahmadinejad. Iranian mullahs cannot be allowed to develop atomic weapons with which they will threaten the democratic world, destabilize Middle East and lead to outright conflict.
His Revisionist Zionist dream of creating a new superpower is just that-a dream, but unfortunately for the rest of the world the 'War on Terror' which Netanyahu is said to be one of the chief architects, has failed miserably. Terrorist cells have mushroomed since George Bush adopted Netanyahu's strategy for the 'War on terror.' Iraq has become hell on earth, and is giving birth to unimaginable evil! Netanyahu's rhetoric of the Iranian threat, is nothing short of deflection from the horror of Iraq, and his dream of another war to further the plan for a new superpower-his! By the way, Russia is reported to have supplied Iran with missile defence weapons, and has said it will supply more if Iran requests them. It is not 1938, it is 2007. Wake up Bibi! Try to think rationally! The old Irgun terrorist campaigns are not suited to this era even though they were a forerunner to contemporary Israeli/American terror campaigns!
Why Netanyahu didn't encourage the U.S to stop import the OIL from Iran if he really mean to stop Iran to gain nuclear weapons? Iran can buy anything she wanted, no matter how many U.S. companies will be quitting dealing with Iran. NOBODY CAN STOP IRAN TO FULFILL ITS RIGHT.
At the end America will do what is good for americans Mr. Natanyaho.
and the roaming Roma (Gypsies), would you invest in Germany? If your answer is yes, go ahead and continue to invest in Iran (note, this is a Jewish news organizations!) If your answer is no, if you have any investment in Iran, take it out, and if you plan to invest there, don't. Also, ensure that neither you nor the organization for which you work does not acquire any goods from Iran now. Because Iran and its president have similar intentions as those of Hitler's of the 1930s - to wipe off the map the Jewsish state of Israel, which by that time will have approximately six million Jews. You could have possibly said in the 1930s and 1940s "I did not know". Now you do know !!!
were hollering a while back when Christian churches cut contributions to Catepillar for shipping large bulldozers to Israel which were used to knock down Palestinian houses---one thing is for sure, Jews do have moxie, yes they do. Israel is not part of the NPT, Iran is. We are still wading thru BS in Iraq thanks to neocons--boy you guys must be dyslexic, very confused. Never mind the whole world, if they don't have a problem with Iran sufficient to stop funds, why should Israel dictate to them given her reputation as an intl renegade--toothless res is what was agreed on--that shoulda told you somin.
Why on earth wouldn't this have occurred to U.S. pension fund investors themselves? To put their money where their worries are? Want to send an indelible message? Hit them where it hurts.
Geez, Bibi and his thugs don't know when to shut up---there is he again trying to run the world. Let Israel not invest in Iran if it chooses; enough of the neocons, let Americans run America. Believe it or not the whole world does not revolve around Israel's tantrums, pretty frequent at this stage.
and banking accounts too.