MRTI chair has let misguided opinions affect his thought
Michael Zorn, Santa Ana, Calif., April 10, 2012
MRTI Chairman Brian Ellison recommends that Caterpillar be added to the divestment list, because it sells to Israel.
I might have given his position a second thought had he also mentioned that Caterpillar also sells to one of the truly repressive regimes: China.
However, Ellison bases his stand on his apparent hatred for Israel alone.
Based on the figures in the article, the $6 million held “across the portfolio” represents about 81,000 shares. The current dividend is $1.84/share, which brings in about $149,000 a year. The company is highly rated by Standard & Poors.
The PCUSA managers have a fiduciary responsibility to make good use of the funds in their care. See Matthew 25:14.
If Caterpillar were truly an unethical company, or served in a field we could not support (Jack Daniels, for instance), I could support Ellison. But it is not, and Ellison has let misguided opinions affect his thought.