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E-M:/ Nader's investments include Occidental



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Enviro-Mich message from "Eric Uram" <eric.uram@sierraclub.org>
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Is Nader going to help the U'wa?

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Subject: U'wa : Salon.com exposes Nader's
investments (including Oxy)
Date: Wed, 01 Nov 2000 16:47:10 -0800
:
Reply-To: organize@ran.org

Inside Nader's stock portfolio

A recent financial statement shows the Green Party
candidateinvests in companies he rails against --
including
Dick Cheney's former employers.

- - - - - - - - - - - -

By Jake Tapper

Oct. 28, 2000 | MADISON, Wis. -- Supporters of
Green Party candidate Ralph Nader are angrily
lining the
streets on the way to a rally for Vice President
Al Gore. They hold up
Nader signs, looking scornfully at the motorcade
that
passes by.

Lefties like to bash Gore for being a tool of
corporate America. More specifically, Gore incurs
their wrath
because the trust of his mother, Pauline, owns
stock in
Occidental Petroleum which, according to Nader
running mate
Winona LaDuke, "is working to exploit oil reserves
under
U'wa land in Colombia." The U'wa are an indigenous
tribe in
Colombia, and became the champions of an anti-Gore
rally at the
Democratic National Convention.

"As I listen to the vice president espouse his
views on campaign finance reform, I look at
his investment portfolio and have to ask how
that might influence public policy," LaDuke
has said, slamming Gore erroneously for
"own[ing] substantial stock in Occidental Oil
Co."

If LaDuke is looking for Occidental
stockholders to criticize, she might want to
look a little closer to home. In the financial
disclosure form Nader filed on June 14, the
Green Party presidential candidate revealed that
he
owns between $100,000 and $250,000 worth of shares
in
the Fidelity Magellan Fund. The fund controls
4,321,400
shares of Occidental Petroleum stock.

The Rainforest Action Network -- whose members no
doubt include myriad Nader Raiders -- has slammed
Fidelity for "investing in genocide," and called
for the fund to
divest its Occidental holdings.

"The Occidental projects are so beyond the pale
about what's reasonable and moral in this modern
era," says
Patrick Reinsborough, grass-roots coordinator for
the
Rainforest Action Network. Reinsborough says that
his group
has been primarily targeting Gore and Fidelity
Investments
in general, Fidelity Magellan being part of the
Fidelity
Investments mutual funds network, as well as the
one with the largest
quantity of Occidental stock. "We have called upon
Ralph
Nader -- as we would call upon any citizen -- to
either divest
from Fidelity or to participate in shareholder
activism,"
Reinsborough says. "Gore has much more
long-standing links to
Occidental Petroleum."

But even if Fidelity were to divest its holdings
in
Occidental, it holds shares in so many companies
Nader has
crusaded against, it's hard to escape the
conclusion that
Nader's participation in the fund is supremely
hypocritical. The fund, for example, owns stock in
the
Halliburton Company, where George W. Bush's
running mate,
Dick Cheney, recently worked as president and COO.
The fund has
investments in supremely un-p.c. clothiers the Gap
and the
Limited, both of which have been the target of
rocks by World Trade
Organization protesters, as well as Wal-Mart, the
slayer of mom-and-pop stores from coast to coast.

Nader spokeswoman Laura Jones says that only the
candidate himself can answer questions about his
personal
investments.

Nader could not be reached for comment.

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