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A government that choses ethical standards over money?????

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acmavm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-09-06 06:52 PM
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A government that choses ethical standards over money?????
Norway dumps Wal-Mart stock
http://www.aftenposten.no/english/business/article1341741.ece

<snip>
The huge fund that's meant to preserve Norway's oil wealth for future generations is pulling out of shares that don't meet the government's ethical standards. Among them is the Wal-Mart discount store chain.

<snip>

The ministry reported that it's excluding Wal-Mart Stores Inc, Wal-Mart de Mexico and Freeport McMoRan Copper and Gold Inc from the fund "in line with recommendations from the Council on Ethics for the Fund."

Halvorsen's finance ministry officials cited "serious" and "systematic violations of human rights and labour rights" as its reason for pulling out of its Wal-Mart investments.

Another decision to dump shares in Freeport McMoRan was based on "serious environmental damage" incurred by the company.

-More-

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3waygeek Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-09-06 06:56 PM
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1. And Wal-Mart struck back
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jun-09-06 07:00 PM
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2. Makes me proud of my Norwegian heritage.
Edited on Fri Jun-09-06 07:17 PM by TahitiNut
Walmart? Uffda! :puke:
The council and Norway's central bank wrote to Wal-Mart last fall, asking them to comment on the allegations of violations of human rights. The Norwegian Finance Ministry said Wal-Mart never responded.

The incredible arrogance of the facist corporatists ignore questions from one of the biggest investment funds in the enitre world!! Of all the corporations that should lose their licnenses and entitlements, none is as baldly coorrupt as Walmart, imho, not even Enron.
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