Klein Presents Check To Woodlawn Tax Payers


BRONX-Stopping by the Woodlawn Tax Payer's monthly meeting, Senator Jeff Klein was proud to present a grant for $2,500 to help cover the group's general operating costs. In addition, the Senator spoke to the crowd about his recent work to divest the NewYork State pension fund from companies that conduct business with states that sponsor terrorism.In June, the Senator released a report, compiled with the assistance of Conflict Securities Advisory Group, Inc. a Washington, DC based research and consulting firm that specializes in the assessment and management of global security risk - i.e., the risk associated with corporate ties to countries of security concern, terrorism or weapons proliferation, which revealed that the NYS pension fund has approximately

16 % of New York State’s total equity assets invested in companies with ties to terrorist states, which include well known conglomerates like the Chevron Corporation ($537,599,794), Coca-Cola ($349,280,545), and Royal Dutch Shell ($209,991,294).

The NY State pension fund, a $140 billion investment, has an overall membership of 995,536 individuals which includes 653,291 members and 342,245 beneficiaries and retirees.

“In this century we face a different kind of enemy than in previous times. Americans should not be financiers of a war against ourselves. As citizens of New York we can show that we are still as united against terrorism as strongly as we were on September 11, but New York’s future can not be in conflict with the crusade for moral righteousness that this country faces on a daily basis. It is our responsibility to oppose the specter of terrorism that looms large over our families and our future by immediately divesting our finances from terrorist states,” said Senator Klein.

Shortly after it was introduced, Klein's bill known as the Terror Free Investment Act of 2007, overwhelmingly passed the Senate.