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To: Doughboy who wrote (37135)	8/6/2005 5:53:42 PM
From: shades	Respond to of 306849

No loans for abortionists - wow you just gave Bush his next policy directive - karl rove got nothing on you!! seattletimes.nwsource.com A Presbyterian committee accused five companies yesterday of contributing to "ongoing violence that plagues Israel and Palestine" and pledged to use the church's multimillion-dollar stockholdings in the businesses to pressure them to stop. Church officials said they could ultimately pull their assets, or divest, in those companies if corporate behavior remains unchanged. The move follows a vote last year by leaders of the Presbyterian Church (USA), the largest Presbyterian denomination, to put economic pressure on companies that profit from Israeli policy in the West Bank and Gaza. A church panel charged with overseeing church investments, the Mission Responsibility Through Investment Committee, listed the five companies during a meeting yesterday in Seattle and authorized the start of "progressive engagement" with the five companies. The targeted companies are Caterpillar, Citigroup, ITT Industries, Motorola and United Technologies. The Presbyterians accused all except Citigroup of selling products such as night-vision equipment, wireless communications and helicopters that the Israeli military uses to hurt Palestinians and bolster control of the territories. To demonstrate equal abhorrence of violence against Israelis, the panel accused Citigroup of being part of a conduit for funds used to support Mideast terrorist groups. "We have chosen these companies because we believe that they can make changes that will increase the possibilities for a just peace in the region," said Carol Hylkema, chairwoman of the committee. "As shareholders of these companies, the Presbyterian Church (USA) calls on them to act responsibly." To exercise leverage, the church said it will undertake "a slow, deliberate process" including dialogue with senior management and possibly shareholder action. The decision to divestment, or remove assets, would be left to delegates at the church's biennial meetings. Last year's vote had outraged Jewish groups, which said the strategy was biased and failed to recognize Israel's right to defend itself, and the tensions worsened after other Protestant bodies adopted similar tactics. Jewish leaders are deeply disturbed that the campaigns threatening divestment essentially borrow from the 1980s movement against South African apartheid. Presbyterian leaders insisted yesterday that divestment would be a last resort, used only if discussions with corporate leaders and lobbying stockholders failed. "We are initiating a slow, deliberate process," said Bill Somplatsky-Jarman, who works with the Presbyterian Mission Responsibility through Investment Committee. David Elcott, head of interreligious relations for the American Jewish Committee, contended the Presbyterian strategy was meant to "punish and attack" Israel. He said he was particularly upset by the timing of the announcement, two weeks before Israel prepares to withdraw from the Gaza Strip. A Citigroup spokeswoman called the claim it supported Mideast terrorist groups "an outrage" and insisted the company worked closely with the U.S. government to help stop financing of terrorism. Paul Jackson of United Technologies said his company was "ethical and responsible" and fully complied with federal regulations on military programs. Caterpillar insisted it was in no way linked to wrongdoing in the Mideast and had "neither the legal right nor the tangible ability" to monitor how customers use its products. A spokesman for ITT said he had not seen the announcement and could not comment. A Motorola spokeswoman did not respond to a request for comment. The Presbyterians did not release a dollar value of church holdings in the companies but estimated they held stock worth tens of millions of dollars in the five corporations. The church has about 2.4 million members. Material from the Religion News Service is included in this report. Copyright © 2005 The Seattle Times Company