Posted on 04/13/2005 3:31:08 PM PDT by Piranha
CHICAGO, April 13 (Reuters) - Shareholders of Caterpillar Inc. on Wednesday rejected a proposal that the company review its sale of bulldozers used to demolish houses and other property by Israel.
The proposal was rejected by parties holding 97 percent of the company's shares, the firm announced at the heavy equipment manufacturer's annual meeting in Chicago.
Caterpillar Chairman James Owens told the gathering "We don't sell armored, weaponized products" and in any case with more than 2 million of its machines in use each day around the world it cannot control what happens to them.
The proposal put to shareholders, most of whom had voted by mail before the meeting, asked that the company's board appoint an outside committee to investigate whether the sale of bulldozers directly or indirectly to the Israeli Defense Forces violated the company's code of worldwide business conduct.
Sarah Norman, representing Jewish Voice for Peace, told the meeting the proposal was simply a call for an investigation, saying, it was not true that most of the buildings being demolished in the West Bank, Gaza and East Jerusalem were "terrorist hide-outs."
Most were being knocked down for "administrative purposes" and two more were taken down on Wednesday in Jerusalem, she said.
She also told the company that its name is showing up prominently as a divestment target among religious and other groups seeking to find socially responsible investments.
Owens said the bulldozers were sold to the U.S. government which in turn hands them over to Israel.
The proposal had been placed on the agenda by a number of groups holding Caterpillar shares, including the Sisters of Loretto, Human Rights Watch and Jewish Voice for Peace. Such proposals have also failed previous votes.
It was also backed by the family of Rachel Corrie, a 23-year-old America activist killed two years ago in the Gaza Strip by an Israeli bulldozer. They have sued Caterpillar in a U.S. court, charging it with "war crimes" and demanding damages.
Several shareholders inside the meeting spoke against the proposal, including a representative of the American Jewish Committee and a woman from California who said Israel was "fighting for its survival" and that Rachel Corrie was being "used" unfairly in death.
Who are the Sisters of Loretto (a Catholic order of Nuns, I know),and why are they sponsoring anti-Israel resolutions against American companies?
Business to bleeding heart liberals - "GO THE F*** AWAY."
Now, to call my broker and buy CAT shares.
Maybe they have a spare bulldozer to take these nut jobs home.
I hadn't heard that before. Apparently her family is a bunch of insane activists also.
I hope the Corrie lawsuit gets thrown out soon. It's a worthless and time wasting attempt to collect on that woman's stupidity.
You all know, of course, all of this is Bush's fault.
Don't they need a stockholder resolution to put on the sde of every bulldozer sold a decal that demonstrates that a stupid slug has been crushed and eliminated? As a symbol of improving the gene pool for the betterment of mankind everywhere, wouldn't it be appropriate to put some mark of accomplishment on every machine each time someone this stupid was squooshed?
yep that thing was wicked
I am waiting for the day when the proposals are to review kowtowing to the EU and sales of dual use items to the PRC.
that should read: Rachel Corrie, a 23-year-old anti-America activist killed two years ago in the Gaza Strip by an Israeli bulldozer
Yes! How Noble!
The Israelis said it was an accident. I beleive them.
Rachel Corrie was a trouble maker connected to a bunch of wack jobs in the ISM group. I have little sympathy for her.
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