Thursday, May 24, 2007

Molly Janczyk re: HB 151

From Molly Janczyk, May 24, 2007
Subject: Bill 151: Iran

Big picture for Bill 151:
For those who wish and requested some thoughts, the general responses might be re: Bill 151 that if we should not be doing business with Iran, why are we doing business with the Saudis who are supplying for part of the civil war and most of the RSB that are killing our wonderful men in Iraq, and who supplied all the persons but one of the 911 intruders. The companies that may be doing business with the Iranians are like a spider web and far too involved to dissect. We are involved in worldwide products both providing and receiving not considering political aspects of terrorists but instead countries needing and providing global services and needs. How could we ever dissect all the energy companies alone from our market investments and supply and demand? Sounds good but far from simple and far more intricate than possible to retract all connections. Pension systems are not bound by political policy. They act solely on behalf of membership to make the best returns possible.
Additions to an email to me.
Please remember STRS does not invest directly with IRAN. We invest with some companies who have worldwide business in many countries including Iran such as Ford, Coca Cola, etc. There are 19 such companies listed on the new bill with many of them energy companies. This is why divesting would be so complex and so hugely negatively impact STRS funds for retirees. Pension systems are not politic so that they can solely serve retirees with the best investment possibilities. We are invested with companies who happen to sell in Iran such as again Ford and Coca Cola. We invest in such companies so that they make a profit for us to make earnings. We invest in companies that are doing business in lots of countries where extremist factions/terrorists live since many if not most countries have such groups along with genocide, abuse of citizens, hatred for America, etc. Iran, Iraq, Afghanistan, Yemen, Pakistan, North Korea, etc. It is easy for us to say stop all monies into those countries politically but that is different than buying a coke , cars, gas, oil and investing in Coca Cola or car companies, oil companies, energy providers. None of us has any idea of the complexity or vast amounts of time and money this would require resulting in shaking our economy. STRS does not do direct business fueling any money directly into Iran.
Larry KehresMount Union Collge
Division III
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