Elephant in the (board) room can no longer be ignored
Submitted by: Holy Land Principles, Inc
Posted: May 02, 2017 – 10:03 AM EST
CAPITOL HILL, May 02 /CSRwire/ - One of the largest companies in the world, in its industry, has been Resolution-ized by the Holy Land Principles— a corporate code of conduct for the 542 American companies doing business in Israel/Palestine.
Lockheed Martin — headquartered in Bethesda, MD and one of the world's largest defense contractors — held its Annual Shareholder meeting on Thursday, April 27. The Holy Land Principles, Inc. was the only non-profit organization that presented a shareholder resolution/proposal, asking the company to “sign”/implement the 8-point set of Holy Land Principles.
Fr. Sean Mc Manus— President of the Capitol Hill-based Holy Land Principles, Inc. and Irish National Caucus— explained: “ We have coined the word “ Resolution-ized “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, 542 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.”
The Holy Land Principles resolution received over 7 Million votes, 7,701,636 (3.48%) with 12,407,933 abstentions.
At the close of business on April 26, 2017, the share value of Lockheed Martin was $270.35.
So, the value of the share votes for Holy Land Principles represented over $2 Billion ($2,082,137,292.60). The value of the abstentions was $3,354,484,686.55.
Therefore, the combined total money not supporting Lockheed Martin was over $5 Billion ($5,436,621,979.15) and, therefore, a total of 20,109,569 votes not supporting Lockheed Martin.
Barbara Flaherty, Executive Vice President of Holy Land Principles. Moved/presented the Resolution.
She said: “We were very pleased by the gracious way that Lockheed Martin received us. I was impressed that the two leaders who conducted the meeting were both women. I hope Lockheed Martin will now fully take into account the importance of this issue—fair employment by their company in the Holy Land. Irrespective of views about the Holy Land, all Americans want to see
Lockheed Martin and all the other American companies over there practice fair employment.”