Monday, August 08, 2005

Ta Da Today

Today, I'm really upset with the intimidation that the Presbyterian Church is trying to pull.
They have decided to divest themselves of stocks in companies that are doing business in Israel. They are threatening to sell their holdings in Caterpillar Inc., Citigroup, ITT Industries, Motorola Inc. and United Technologies.
How rediculous they are. First of all, these are huge companies and by the Presbyterian Church selling off their stock in these five companies will have little effect in the overall profits that these companies will make for their shareholders. Second, how dare any religious group try to dictate to a publicly held corporation where they should be doing business. Now, I can understand our government putting up trade barriers with hostile nations; but a church trying to control the value of a stock...that's not only trying to interfere with free trade but, who do they think they are ?
If they don't like what a company is doing, don't invest in it...but don't try to "negotiate" with them about who they are doing business with.
I'm curious as to what other companies are in their portfolio. I'll bet that they own stocks in companies that are also doing things or deal in products that we could find controversial. That would also make them hypocrites.
A church is about worship, not commerce. If they are trying to manipulate our stock market, then they should lose their tax-exempt status. Besides, why should they be able to trade stocks tax-free ? What kind of crap is that ?
As soon as they sell of their holdings in the above mentioned stocks, watch then soar.
Shame on the Presbyterian Church for doing anything unrealted to their main purpose; that of religion...

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