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Proposed divestment pulled
National Catholic Reporter, May 2, 2008
WASHINGTON -- The United Methodist church's social policy agency has pulled a proposed resolution that would have withdrawn church investments in Caterpillar Inc. because the company supplies bulldozers to Israel.
Church delegates will still consider other proposals to divest from companies involved in the Israeli-Palestinian conflict, but none of those petitions targets a specific company.
The Methodists' General Board of Church and Society had submitted a petition to the church's upcoming General Conference but withdrew it April 17 after Caterpillar agreed to talks with church leaders.
Critics complain that Caterpillar machines are used to raze Palestinian homes and olive groves. About $5 million of the total $17 billion United Methodist investment portfolio is tied to Caterpillar.
COPYRIGHT 2008 National Catholic Reporter
COPYRIGHT 2008 Gale, Cengage Learning
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