Posted on 01/12/2004 5:44:33 AM PST by chance33_98
New York Stock Exchange Asked to End Jesse Jackson Support
1/12/04 6:01:00 AM
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To: National Desk
Contact: Peter Flaherty of the National Legal and Policy Center, 703-237-1970 or 703-864-7902 (cell)
WASHINGTON, Jan. 12 /U.S. Newswire/ -- The following letter was sent today to John Thain, the incoming NYSE Chief Executive Officer, by Peter Flaherty, president of the National Legal and Policy Center:
On September 29, 2003, we asked that the New York Stock Exchange (NYSE) cease and desist from further support for Jesse Jackson and/or his organizations
On October 23, 2003, media reports indicated that the NYSE had denied Jackson use of the Exchange floor for a fundraising gala connected to the 7th Annual Rainbow/PUSH Wall Street Project Conference that takes place January 13-15, 2004 in New York City, but that the NYSE would remain a financial supporter. This response is unacceptable.
NYSE's support for Jackson is undoubtedly useful to him in his solicitation efforts of NYSE members and other companies. These solicitations are often suggestive of shakedowns or extortion operations. Public confidence in the governance of the Exchange is at an all-time low. The restoration of confidence necessitates the severance of all association with these questionable activities.
Richard Grasso needlessly alienated Exchange members, government officials, and the investing public by providing significant financial support, and the prestige of the Exchange, to Jesse Jackson and his organizations. On September 14, 2003, NLPC asked Grasso to resign in light of his 'greed' and association with Jackson.
NYSE's involvement with Jackson appears to be through the so- called Citizenship Education Fund (CEF), Jackson's largest 'nonprofit' group, and the sponsor of his annual Wall Street Conference. CEF is the subject of a formal Complaint we filed with the Internal Revenue Service on February 28, 2001, which is pending.
We allege that Jackson, his family and friends have improperly benefited from CEF, in violation of CEF's tax-exempt status. To read the Complaint, go to http://nlpc.org/gip/010228ir.htm.
National Legal and Policy Center (NLPC) has mobilized thousands and thousands of citizens in successful campaigns to get Toyota, and most recently NASCAR, to end support for Jackson. Go to http://nlpc.org/nascar.asp. I have enclosed clippings regarding NASCAR.
NLPC sponsors the Corporate Integrity Project. Our October 6, 2003 Complaint to the Inspector General of the Defense Department, on which an October 7 front-page Wall Street Journal article was based, led to the firing of Boeing CFO Michael Sears and the resignation of CEO Philip Condit.
You have a responsibility to end questionable practices by the NYSE. We ask you to act without further delay.
| Rank | Location | Receipts | Donors/Avg | Freepers/Avg | Monthlies | |||
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| 10 | Montana | 1,140.00 |
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Wow, this release doesn't pull any punches. Somebody forward it to O'Reilly, because there will be a news media blackout, otherwise.
If you want on (or off) of my black conservative ping list, please let me know via FREEPmail. (And no, you don't have to be black to be on the list!)
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Also, after 9/11 Cypress CEO was one of the first to stand up and say he'd buy his own company shares to help the markets.
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