University of WI Moves to Pull Sudan Investments (Too Little, Too Late)

Madison.com via AP ^ | August 18, 2006 | Ryan Foley

[Diana in Wisconsin]

University of Wisconsin System leaders moved Thursday to pull their assets out of companies that do business with the government of Sudan.

UW could not invest in companies that work with the Sudanese government or are complicit in what the U.S. government and other countries consider genocide in the Darfur region in western Sudan under a resolution adopted by a committee of UW System regents.

"This is an opportunity for us, on the grounds of humanitarianism, to do the right thing," said Regent Charles Pruitt, chairman of the regents' business and finance committee.

The UW System would join 10 states and 20 universities that have passed similar policies to protest the conflict that has led to hundreds of thousands of deaths since 2003. The state's investment board is also looking into the matter.

The resolution, which will go into effect if approved by the full board today, would apply to the $370 million in trust fund investments managed by the UW System. The resolution would encourage private foundations that raise money for UW campuses to follow suit.

UW staff has identified 20 holdings worth $1.2 million in its stock portfolio with possible ties to Sudan, although they are all held in mutual funds. The resolution calls for UW to send letters to the fund managers urging them to adopt a Sudan-free policy or to create a new mutual fund for UW's investments.

Simply pulling out of the investments would not be a wise decision, UW officials said.

UW investments include more than $1 million in two Chinese oil companies, PetroChina and China Petroleum & Chemical. They do business with Sudan's Arab-led government, which is accused of unleashing Arab militias known as the Janjaweed to kill members of ethnic African tribes who rebel against the government.

In a related matter, the regents' committee is also looking into adopting a policy that would prohibit investments in tobacco companies. Regent Elizabeth Burmaster, the state superintendent of public instruction, said she would research the matter further before offering a resolution at a later date. UW holds about $1.4 million in such investments.

[Diana in Wisconsin]

Yep. Years after the genocide, send a few letters. *Rolleyes* Liberals. The Clueless Meat.

[Diana in Wisconsin]

"In a related matter, the regents' committee is also looking into adopting a policy that would prohibit investments in tobacco companies."

That's going to leave a mark, LOL!

Works for me. More stock shares for me to buy. ;)

http://www.vicefund.com