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National Pensions Reserve fund unethical investments

category national | anti-war / imperialism | news report author Wednesday July 23, 2003 19:55author by Stunned

From RTE business an interesting list of the National Pensions Reserves fund unethical investments which include raytheon, manufacturer of the Tomahawk Cruise Missile.

Even with these investments the fund still lost almost €750m (16% of its value) of taxpayers money last year.


Lockheed Martin €3.8m invested as of December 31 2002
Northrop Grumman 1.6m
raytheon 742,000
BEA Systems 263,000
Bombardier 211,000
Cigarettes
Philip Morris 10.5m
British American Tobacco 3.6m
Imperial Tobacco 2.8m
Oil
Royal Dutch 103m
BP 15.1m
Shell 13.1m
Exxon Mobil 47.2m
Halliburton 1.1m
Miscellaneous
Monsanto 2.5m
Nike 5.3m
Walmart 33m
Starbucks 4.6m
MacDonalds 2.3m
Coca Cola 15.3m
Fox Entertainment 250,000
BSkyB 8.2m
Microsoft 47m
Companies that have had financial difficulties
Tyco 4.9m
QWest Communications 706,000
AOL Time Warner 14.5m

Related Link: http://www.onbusiness.ie/2003/0723/pensions01.html

Comments (6 of 6)

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author by James McKennapublication date Thu Jul 24, 2003 00:44author address author phone

....about why our arse-lick government co-towed to the yankee invasion.

author by Seáinínpublication date Thu Jul 24, 2003 03:40author address author phone

We 'kow-towed' to the US because it was regarded as a just war of liberation. We are obviously keen to have good relations with the US because so many US companies are based here.

The value of all shares fell dramatically last year so a 16% fall is normal. Investing in the markets gives a good return in the long run, far better than a fixed interest loan would.

author by iosaf - checks his portfoliopublication date Thu Jul 24, 2003 12:47author address author phone

the level of all shares did not fall dramatically last year. The Irish government pension fund appears to be based in "bigname" stock, and most of it appears to be quite unethical. Last year certainly saw a lot of unethical stock fall in value, but other stock and gilt edge securities fared quite well.
The Irish government are obviously not very good at speculative Capitalism.

author by davepublication date Thu Jul 24, 2003 13:24author address author phone

probably ironic sein as he's probably against the principles of reduce reuse recycle..

Here's a man who believes absolutely everything bertie and mary o hearnia tell him and will enthusiastically repeat it in chinese whispers style until the newspeak is reduced to "FPD" is great"

author by The Insiderpublication date Thu Jul 24, 2003 13:55author address author phone

"We 'kow-towed' to the US because it was regarded as a just war of liberation"

By whom? The Iraqis themselves (surely the only people whose opinions really matter) are giving the US a rough time in Iraq. They certainly are not behaving like they feel they have been "liberated" as you put it.

author by S. Aerobics - Bono's Activist Friendspublication date Thu Jul 24, 2003 16:26author address author phone

With an aging Irish population the IRL Gov. regard the future payouts of pensions as a 'timebomb'.

Handy solution to invest in agents of a premature death like the military, tobacco, alcohol, oil industries...

Although I hear Monsanto are beavering away on the elixir of life !


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