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Cisco Now Focus of Holy Land Principles

GE, Corning & Intel RESOLUTIONized

Submitted by: Holy Land Principles, Inc

Categories: Socially Responsible Investing, Corporate Social Responsibility

Posted: May 28, 2015 – 10:05 AM EST

 

WASHINGTON , May 28 /CSRwire/ - Three major American companies doing business in Palestine/Israel - Israel/Palestine have now been served with Shareholder Resolutions on the Holy Land Principles— an 8-point corporate code of conduct.

GE, Corning and Intel have all been “ RESOLUTIONized.”

Fr. Sean Mc Manus— President of the Capitol Hill-based Holy Land Principles, Inc. and Irish National Caucus— explained: “ I have coined the word “ RESOLUTIONized to hammer home an important truth. For the first time in history, American companies doing business in Palestine/Israel- Israel/Palestine are being challenged on their record of fair employment. It is the very first time Shareholder Resolutions on fair employment have been submitted, which is of real significance. Isn’t it extraordinary that this had never been done before? Imagine, 545 of the top American companies doing business over there, and their fair employment record escaped all scrutiny by American shareholders, consumers and stakeholders! But, of course, the same myopia prevailed regarding American companies in Northern Ireland until we launched in 1984 the Mac Bride Principles— on which the Holy Land Principles are based. And, then, the Mac Bride Principles changed the entire fair employment dynamic in Northern Ireland. The Holy Land Principles can do the same in Palestine/Israel-Israel/Palestine.”

Fr. Mc Manus continued: “ Now,of course,  it’s very important to get as many investors as possible to vote for the Resolution, but that, while very important, is of secondary importance. Of first importance, naturally and logically, is submitting the Resolution— bringing it into the Boardroom for the very first time and confronting the Company with the moral, ethical  and good governance choice,  arguing one’s case before the SEC and raising consciousness on the whole crucial issue. In all three cases, GE, Corning and Intel tried to have the SEC exclude our Resolution but the SEC ruled in our favor. Another important milestone, and  enduring dynamic  for the Holy Land Principles.”

Although at the Annual Meeting on May 21, Intel announced the preliminary vote of 3% for the Holy Land Principles, the final vote — because Intel counts abstentions — was  2.63%. This means the same resolution cannot be re-submitted next year, but it does not mean no other helpful Resolution can be submitted. The Holy Land Principles, Inc. SHALL be back next year before both Corning and Intel— it did succeed in achieving 3% before GE.

Fr. Mc Manus concluded: “ We have already filed a Holy Land Resolution with Cisco. Now Cisco will be the focus of our campaign, without losing sight of the on-going reality and enduring dynamic that GE, Corning and Intel have been RESOLUTIONized—with many more to come.

Cisco itself has already, in effect, admitted the urgent need for the Holy Land Principles. Cisco in their 2012 Corporate Sustainability Report acknowledged the shocking problem of 'under-represented minorities' in the hi-tech workplace. Arab citizens constitute 20 percent of the population in Israel, but make up less than 0.4 percent of the high-tech industry workforce. Such 50:1 inequality of outcomes for Israel's Arab citizens, if operative instead for African-Americans, would read 'Black citizens constitute 12% of the population of the United States, but make up less than 0.24% of the high-tech industry workforce."

The Holy Land Principles rests its case!

For more information, please contact:

Sean Mc Manus President
Phone: 202-488-0107
Fax: 202-488-7537
Barbara Flaherty Executive Vice President
Phone: 202-488-0107
Fax: 202-488-7537

For more from this organization:

Holy Land Principles, Inc

 

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