British Columbia Teachers for Peace and Global Education
A Provincial Specialist Association of the BC Teachers' Federation
PAGE BC
 

 

The “Dirty Baker’s Dozen” from the portfolio of the British Columbia Investment Management Corporation

By PaulHutcheson

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Corporation

Comments

Value*

1

Encana

The presence of Canadian oil companies in Colombia has caused numerous conflicts between guerrillas, the army and the local population.  www.yorku.ca/cerlac/documents/Pearce.pdf

$447,544,545.00com

$14,857,875.00  fix

2

AltadisSA

This company is marketing flavoured cigarillos in packages of five or six that resemble a box of candy.  This trendy marketing in Quebec is aimed at young people in the 12-14 age range. http://tinyurl.com/3sv37x

$21,682,141.41

3

HudBay

The smelter in Flin Flon Manitoba is the largest source of mercury emissions to air in Canada (1340+kg/year). http://www.miningwatch.ca

$25,219,199.88

4

Ivanhoe

This company’s copper mining activities in Myanmar (Burma) provide the regime’s most important source of revenue. It owns a number of subsidiaries, one of which is investing in China and Mongolia. http://www.miningwatch.ca

$29,757,739.50

5

Barrick

Straddling the border between Chile and Argentina at an altitude of over 4,500 metres this gold and silver mining operation puts both the environment and the area’s indigenous communities at risk.  http://www.miningwatch.ca

$166,510,250.64

6

Anvil

The Canadian government has been asked to investigate serious allegations concerning this company’s complicity in the actions of the Congolese Armed Forces in the killing of up to 100 civilians, many of the women and children. http://www.miningwatch.ca

$2,805,894.00

7

Goldcorp

Guatemalan farmers of Sipakapa are concerned that the mine, including its cyanide-leaching process will contaminate and deplete the water they need for their crops.  http://www.miningwatch.ca

$142,239,060.01

8

Halliburton

Halliburton is accused of exploiting the world’s poor people and making excess profits from its activities in Iraq, and of bribing Nigerian officials in association with a natural gas project.  It has 17 subsidiaries in tax haven countries in order to avoid paying US taxes.http://tinyurl.com/baxet

$41,800,016.89

9

Wal-Mart

Described as the most venal corporation running amok in the US (and subsidized by taxdollars), this company is vehemently anti-union, mistreats its workers, contracts off-shore to sweat shops and has created ghost communities as local small business owners are forced into bankruptcy. http://tinyurl.com/5dl9bd

$66,513,399.52

10

GAP

GAP uses child labour in India to produce children’s clothing bound for US and European markets—another example of what children around the world must endure in the service of global capital. http://tinyurl.com/5e2spu

$7,199,931.45

11

Novartis

This company has filed patents that reveal its scientists will be able to use the radical biotechnology for almost every crop on earth.  Third World farmers worry that they will become dependent on buying the company’s chemicals each year to produce healthy harvests of genetically modified foodstuffs. http://tinyurl.com/5aaszy

$10,203,612.07ADR

$139,185,162.28REG

12

Mattel

Barbie made this toy maker produces famous; it also produces GI Joe and other war toys and uses cheap labour in China. Some products have been the subject of recall because of the lead content in paint and magnets that fall off pose a choking hazard. http://www.msnbc.msn.com/id/20254745/

$9,886,388.37

13

Comcast

Comcast, the US’s largest cable company, is one of the most far- reaching distributors of pornography, offering subscribers a moaning, groaning melange of what's euphemistically called "adult entertainment" -- and profiting handsomely from the deal. http://tinyurl.com/lrghu

$56,677,782.63CL A

$23,650,997.62SP A

*the participants in the pension plan include:  College, Municipal, Public Service, Teachers' and WCB employees

Note: Pension Plan Trustees will argue that it is necessary to invest where the highest yield will result.  If this is so then why does the plan hold $5,444,679,847.73 of Province of British Columbia (Strip) bonds at 0% interest, with maturity dates as far away as January 2039?

For a full listing of investments go to http://tinyurl.com/5xr85j