Peter,
Sounds to me that DIS is the winner and so are we. I feel it is only a buying opportunity for us. What happened to LOVE THE NEIGHBOR??
Dorine
Texas board votes to sell Disney stock
July 10, 1998 01:19 PM
AUSTIN, Texas, July 10 (Reuters) - The Texas Board of Education voted on Friday to dump $45 million in Walt Disney Co. stock from the state school fund in a move spurred by social conservatives angered by sex and violence in movies.
The 15-member board runs the public school system in Texas and controls the $17.6 billion Permanent School Fund, which holds 1.2 million shares of Disney stock.
Divestiture was favored by eight members of the board, with four voting against, two abstaining and one absent.
With the vote, Texas became the first state to rid itself of Disney stock in protest against the content of its films.
The company, long known for its wholesome cartoons and family movies, has become a favorite target of groups such as the Southern Baptists, who last year voted to boycott it because of its alleged "promotion of immoral ideologies and practices."
The anti-Disney groups complain that the company's entertainment products display too much sex and violence and that its corporate policies promote homosexuality.
REUTERS
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