News Archives » Economic Justice
Shareholder Proposal Succeeds in Bringing Google to the Table to Talk about Corporate Taxes May 23rd, 2014
The Oblates supported a shareholder proposal filed by Domini Social Investments with Internet giant, Google, seeking a responsible code of conduct on global tax strategies. Google has agreed to sit down with the investor group and discuss this issue, which is an important element in the conversation around the role of government and the revenue sources available to it to meet its responsibilities.
Adam Kanzer, Managing Director and General Counsel at Domini, wrote an Op Ed to explain the thinking behind the investor position that corporations need to pay their fair share of taxes. In it, he dispels a few myths about US corporate taxes, and argues that a deeper analysis shows that “Corporate tax minimization strategies present serious threats to long-term wealth creation and might pose greater risks than corporate taxation itself.”
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Mary Immaculate, Santa Rosa, St Elisabeth & OneLA Make Waves with LA County Supervisors May 23rd, 2014
Thanks to Edward Chavez, OneLA organizer in Mary Immaculate and Santa Rosa parishes for sending this statement on the group’s latest success in LA!
Over eight hundred people from churches, schools, synagogues, and civic organizations throughout Los Angeles packed the Los Angeles Supervisor’s boardroom on May 20, 2014. The message was clear: We are united in our call for increased funding for Healthy Way LA, the county’s health coverage program for the undocumented and remaining uninsured.
Reactions from the Supervisors were mixed. Supervisor Mark Ridley-Thomas showed signs of support and was pleased with the large turnout from schools, clinics, synagogues and churches in his district. However, it was obvious that much work needs to be done to ensure a second and third vote to increase funding.
During the board meeting, OneLA leaders were successful in securing a follow up meeting with Supervisor Gloria Molina and her staff. Supervisor Yaroslavsky has also agreed to continue the conversation.
As a result of OneLA’s packing the Board meeting, the Supervisors called the Director of the County’s Health Services Department to drop what he was doing and come to the Board meeting. Supervisor Mark Ridley-Thomas asked Director Mitch Katz to offer an explanation for why nearly one thousand County residents are calling for more funding. Dr. Katz offered a weak response, reasserting that he does not see a need for additional funding. Our big turnout was instrumental in demonstrating to the Board that Dr. Katz’ assessment of the County’s need does not accurately reflect the real need in our communities. We must continue to make sure that the community’s voice is heard loud and clear- more funding is essential!
We thank Supervisor Antonovich and his staff for ensuring that our leaders were recognized and given time to address the board. Speakers included: Jim Mangia, Director of St John’s Well Child and Family Center, Fabiola Sandoval of the Boyle Height’s Building Healthy Communities Collaborative, Mary Jackson from St Brigid Church and Fr. Bruce Wellems, pastor of San Gabriel Mission Catholic Church. As our speakers closed, hundreds One LA and other organizations rose to their feet and applauded the Supervisors for their leadership thus far. We then left the boardroom together, determined to continue the fight- together as One LA.
A follow up meeting will be held on Thursday May 29th 7:00pm, place to be announced.
Oblates Press Banks to Restore Public Trust May 21st, 2014
JP Morgan Chase Tower, Houston, TX; by Gabor Eszes, used under Creative Commons license, Wikimedia Commons
Fr. Seamus Finn OMI represented the Missionary Oblates of Mary Immaculate and other members of the Interfaith Center on Corporate Responsibility (ICCR) at the Annual General Meeting of JP Morgan Chase in Tampa on Tuesday.
Fr. Finn commended the bank on the steps taken thus far to produce a report commissioned by the Board of Directors in response to an ICCR shareholder proposal. The report is to describe “the steps that the Firm has taken to address a number of challenges it faced” since the near collapse of the global financial system in 2008.
Fr. Finn noted that “too many people are still living with the consequences of that crisis and the TRUST and confidence of the public has neither been repaired or restored. We believe the report that we have requested and our company has agreed to complete over the coming months can, when its recommendations are implemented, make a contribution to the restoration of the trust that is necessary for the reliable, safe, effective and ethical functioning of the financial system.”
Read the complete Statement at JP Morgan Chase AGM
Join “Campaign Nonviolence”. May 19th, 2014
Pax Christi USA, of which OMI JPIC is a member, has endorsed Campaign Nonviolence, a movement to promote non-violence that is being circulated through Pace e Bene.
This campaign works to connect the dots between poverty, militarism, racism and the environment, and is promoting study groups around the country as well as direct action to serve as a public witness. Campaign Nonviolence will take action September 21-27 in cities across the United States as part of the long-term struggle to abolish war, end poverty, reverse climate change, and to build a culture of peace.
Please visit the Pace e Bene website where you will find a wealth of information and suggestions for concrete actions to support the Campaign.
OIP joins Domini and other Shareholders in urging Google to pay its fair share of taxes May 11th, 2014
Many companies claim they are forced by shareholders to dodge taxes in order to maximize profits, but what would a company do if its shareholders insist that it actually pay its fair share in taxes?
A group of Google shareholders, headed up by Domini Social Investments, may soon find out. The group has filed a proposal for consideration at the shareholder annual meeting asking the company to adopt a set of principles regarding taxes. The shareholders are recommending that the principles include consideration of any “misalignment between tax strategies and Google’s stated objectives and policies regarding social and environmental sustainability.”
The proposal comes after several widely publicized stories about Google’s aggressive tax planning which moves billions of dollars annually to offshore tax havens. In 2012 alone, Google dodged an estimated $2 billion in income taxes by shifting an estimated $9.5 billion to offshore tax havens.
Continue reading this story from Citizen’s for Tax Justice…
