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Genocide – Nothing but A Political Issue to Fidelity

09 Apr

David Weidner offers a personal account on Fidelity phone solicitors urging a “no” vote on divestment. In Blood for Cash Mr Weidner relates a phones conversation he had with when a representative of Fidelity Investments called him one evening at an unusually late hour.

A big shareholder vote was coming on April 16, I was told. Fidelity wanted me to vote no, right there over the phone on an issue for which it had done a great deal of research. The pitch went on for a minute. Never was I told the issue Fidelity was calling about. When I pressed a little, I was told about a bureaucratic board, higher costs and activists. That’s the point in our conversation when I realized what the call was about.
Fidelity wanted me to vote against a resolution making it harder to invest in companies linked to genocide. “Can I put you down for a no
?”

Read the full article at Market Watch

Thanks to Craig Tolliver for the link.

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Posted by on April 9, 2008 in Bookmarks, Divestment

 

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