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Rating:Fido is the Target of Protesters' Ire Not Rated 1.6 Email Routing List Email & Route  Print Print
Tuesday, April 24, 2007

Fido is the Target of Protesters' Ire

Reported by Erin Kello

Somtimes being one of the biggest fund firms on the block brings attention, at times too much attention. This morning the group divestfordarfur.org, part of the Save Darfur organization, took their battle with Fidelity to the street, Wall Street that is.

The protesters waved signs urging Fidelity investors to call the company and demand they divest from PetroChina, a company they accuse of being one of the worst offenders in helping to fund the genocide in Darfur.

Allyn Brooks-LaSure, director of media relations for the Save Darfur organization, told The MFWire know that the group is calling on Fidelity to "examine the cost of investing in PetroChina because of the role they play in the genocide in Darfur." The reason Fidelity was targeted, said Brooks-LaSure, is that the firm is "the largest holder of PetroChina stock on the NYSE."

Save Darfur encourages individual investors to divest themselves, their company or their state from Fidelity funds that own shares of PetroChina. In addition, they support the drafting of Federal divestment legislation.

On the flyers handed out this morning is the number for the Fidelity executive hotline so that people can call and tell Fidelity their concerns. The voice on the other end of that hotline belongs to Anthony Muccio, an executive office specialist at Fidelity. He told the MFWire that all information provided by callers is being reviewed by executives at the highest level to reach a decision on whether something should be done.  

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