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Old 01-31-2009, 03:55 PM   #1
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Default Invesco Funding Genocide in Darfur...Pat?

I'm in the middle of research into US and international institutional investment firms that have financial holdings in companies that are participating in the horrific genocide currently going on in Darfur, Sudan. If you're unaware of this conflict...it's the single largest human rights aid operation in the world at the moment. Since 2003 when rebels based in the western Sudan region known as Darfur, attacked Sudanese army units, the government of the Sudan has been funding Arab mercenaries and participating themselves as well...in the wholesale slaughter of somewhere between 250,000 and 400,000 Sudanese civilians. Another 2.5 million are homeless and endanger of starvation or attack. These are not mere casualties of war...unintended collaboral damage. It's defined by the UN and every human rights organization in the world as genocide, a systematic attempt to obliterate an entire group of people.

Some of this is almost unspeakable...we're talking about entire villages murdered by axe weiding lunatics...women routinely abducted and gang raped for months before having their skulls crushed with axes, girls as young as 8 being sold as sex slaves throughout the middle east...children and babies burned alive and even crucified. Husbands forced to watch their wives and daughters raped and tortured before their eyes. The conflict is religious and ethnic...Arab Islamic extremists murdering black Africans who are mostly Christian and Animist...and it's all funded by a sovereign state...not by roving bands of thugs. This part of the war in the Sudan is not warfare...it's wholesale, uninhibited slaughter.

The refuge camps in Darfur are home to some of the worst living conditions on earth, a place where UN Peacekeeping troops are unable to protect themselves, let along stop the violence against these helpless people. On December 31, 2007 President Bush signed into federal law the Sudan Accountability and Divestment Act. It pulls US investment in the Sudan, authorizes states to divest assets associated with pensions plans, anuities, state run university and other pubic resources, and it affords legal protection for those states and institutions that choose to do so.

There is absolutely ZERO reason for any institutional investor in the US to hold stock in any company doing business in the Sudan outside of humanitarian aid, food or mecial assistance to the people. Most aid that goes to Sudan finds it's way into something else....the country contributes only 3% of it's total GDP to assisting their own people overcome their poverty. That's about 160% below what most 3rd world nations do. In a word...they don't care. The current "targeted divestment" strategy focuses only on those companies doing business in military, oil, mineral extraction and energy production...the main things keeping the Sudanese government able to equip it's military and conduct genocide.

An international divestment initiative has targeted the worst offending companies doing business with the Sudanese government. At the top of their hit list is Chinese Oil giant Petro China, which is not only complicit with the Sudanese regime, but arrogantly refuses to do anything to influence them to stop murdering innocents. Income from oil produces 70% of the funds for the Sudanese military, and is directly responsible for assisting them in the slaughter of civilians in Darfur. Below is a list of major finanical investors who have significant holdings in Petro China.

Major mutual fund companies:
- Barclays - iShares
- Capital Research - American funds
- Fidelity
- Franklin Templeton
- TIAA-CREF
- Vanguard

Other major financial institutions:
- Aberdeen Asset Management
- Credit Suisse
- HSBC
- Invesco
- JP Morgan Chase
- KBC Group
- Sumitomo
- UBS

As you can see...this list includes Invesco...the company that has the naming rights to the Broncos stadium...a stadium built with tax payer money by the people of Denver County. As of August 1, 2007 Invesco held over $185 million in Petro China stock. More current data is probably available but I've not searched for it yet.

I do not think the Broncos have any business continuing the current relationship with Invesco based on this information. Survey's of individual investors have shown that over 70% favor divesting their portfolios from comapnies holding assets that contribute to genocide even if it lowers their rate of return.

One final thing you should know...studies by the Calvert Foundation show that companies holding assets in the most serious offenders on the list of bad guys...financially underperform significantly against their competition...up to 23% over a single year...about 7% over 3 years. In other words...even if you didn't care about this issue...there are obvious BUSINESS advantages for divesting from those companies that are complicit in this horrendous tragedy.

Personally I think Pat Bowlen needs to hear from Bronco fans about this issue. I think he needs to dump the partnership with Invesco immediately. You can also email Invesco here and let them know what you think: http://investorsagainstgenocide.net/invesco

The next time you think about Cutler's INT percentage, our new coaching staff or the NFL draft...remember that something going on with the business side of this team is vastly more important.

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Old 01-31-2009, 04:01 PM   #2
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Is Genocide tax deductible ?
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Old 01-31-2009, 04:04 PM   #3
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Is Genocide tax deductible ?
No but donating to an organization trying to stop it is.
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Old 01-31-2009, 04:30 PM   #4
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I'm pretty sure naming rights to a stadium are sold as a leased deal that Bowlen can't back out of without finding some lease violation, which I also doubt Invesco has done.

Not really anything he can do about it, short of using the "Invesco Field" monicker against them and publicly attacking the company's support of Petro China, but then that'd likely be a hell of a PR hit as well as souring relations with dozens of Bowlen's business partners, so if you want him to be able to financially afford the Broncos, thats a hell of a lot to ask.

A Darfur Awareness rally at Invesco though? That'd be a good idea and could probably be a way for the Broncos organization to lend a small hand (allowing the rally) without burning bridges that they need to keep the lights on and doors open.
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Old 01-31-2009, 04:39 PM   #5
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I'm pretty sure naming rights to a stadium are sold as a leased deal that Bowlen can't back out of without finding some lease violation, which I also doubt Invesco has done.
I'm not an attorney, but I'll point out that the stadium was built with public tax money, and the federal law Bush signed in 2007 authorizes federal legal protection for companies divesting public assets. While the Broncos are not publically owned...is the stadium? If the stadium is owned by the city of Denver, I would bet that Bowlen could at least explore this option based on the protection afforded him. At an absolute minimum...he should take a strong stand that invesco dump their holdings in Petro China. Frankly I could care less if he has legal ground or not...at the end of the day even if he gets sued he ought to drop his association with these guys.
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A Darfur Awareness rally at Invesco though? That'd be a good idea and could probably be a way for the Broncos organization to lend a small hand (allowing the rally) without burning bridges that they need to keep the lights on and doors open.
The same attitude kept the US from committing to the divestment action in South Africa for over a decade. The single most important factor in the end of apartheid was pressure on companies doing business there and the divestment of their assets.

Bronco fans should push this issue IMO.
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Old 01-31-2009, 04:54 PM   #6
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The city owns the stadium and as an extension, the naming rights. Call Hick, Pat has nothing to do with this.
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Old 01-31-2009, 04:59 PM   #7
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Here it is: http://football.ballparks.com/NFL/De...s/newindex.htm

"INVESCO Field at Mile High is owned by the Metropolitan Football Stadium District (MFSD). The MFSD is a corporate body and political subdivision of the State of Colorado established pursuant to the Metropolitan Football Stadium District Act, Article 15, Title 32 of the Colorado Revised Statutes..."

That's the key; the ownership group is a political subdivision of the state. That means they can legally divest in Invesco. The thornier question of naming rights...that's for lawyers to sort out.

Bowlen is the one who should make the decision...certainly the one who should push for this even if it's not his decision, especially if the Broncos are benefitting from Invesco payments in exchange for those naming rights.
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Old 01-31-2009, 05:24 PM   #8
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The same attitude kept the US from committing to the divestment action in South Africa for over a decade. The single most important factor in the end of apartheid was pressure on companies doing business there and the divestment of their assets.

.
And now look at the hell hole that SAfrica has become. They were in danger of potentially losing the 2010 world cup because of the lawlessness and crime ridden conditions coupled with infrastructure issues--I have met 5 Afrikaners in my profession(including one of my college prefessors) who have left SA because of the rise in 'reverse racism' including, but not limited to rape, murder and land grabbing. There is actually genocide against Afrikaners(whites) and East Indians (were sugar cane workers in the 19th century)going on in SAfrica, particularly the countryside, as we speak--but obviously not to the extent of the tragedy in Darfur.

I do appreciate your attention to the conflict in Darfur--I had no idea that Invesco was tied into the conflict. Your post was educational.

http://www.africancrisis.org/Photos45.asp


The crime rate in South Africa is 8 times higher per capita than the USA. South Africa is probably almost as dangerous as Iraq was



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Old 01-31-2009, 05:29 PM   #9
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how did bowlen make his money?
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Old 01-31-2009, 05:48 PM   #10
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Farm murders

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Old 01-31-2009, 05:51 PM   #11
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Default SA: blacks sing about killing whites

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Old 01-31-2009, 05:55 PM   #12
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Default WOW! Mandela sings about killing whites

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Old 01-31-2009, 05:57 PM   #13
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And now look at the hell hole that SAfrica has become. They were in danger of potentially losing the 2010 world cup because of the lawlessness and crime ridden conditions coupled with infrastructure issues--I have met 5 Afrikaners in my profession(including one of my college prefessors) who have left SA because of the rise in 'reverse racism' including, but not limited to rape, murder and land grabbing. There is actually genocide against Afrikaners(whites) and East Indians (were sugar cane workers in the 19th century)going on in SAfrica, particularly the countryside, as we speak--but obviously not to the extent of the tragedy in Darfur.

I do appreciate your attention to the conflict in Darfur--I had no idea that Invesco was tied into the conflict. Your post was educational.

http://www.africancrisis.org/Photos45.asp


The crime rate in South Africa is 8 times higher per capita than the USA. South Africa is probably almost as dangerous as Iraq was


So according to you, the legally sactioned, state sponsored system of apartheid that held blacks in bondage to the vicious regime that ruled previously was justified?

Whatever problems S. Africa has today...it's none-the-less no longer ruled like a modern day Nazi state.

You missed the point however. The point is...divestment works. It has been demonstrated to work in the Sudan already. Companies like Invesco need to be made to pay an economic price for complicity with the actions of the government of the Sudan.
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Old 01-31-2009, 05:57 PM   #14
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Default Now, back on topic--a very disturbing video regarding the massacres in Darfur

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Old 01-31-2009, 05:58 PM   #15
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Another good video

http://www.youtube.com/watch?v=dbGGSkWLVBo
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Old 01-31-2009, 06:04 PM   #16
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So according to you, the legally sactioned, state sponsored system of apartheid that held blacks in bondage to the vicious regime that ruled previously was justified?

Whatever problems S. Africa has today...it's none-the-less no longer ruled like a modern day Nazi state.

You missed the point however. The point is...divestment works. It has been demonstrated to work in the Sudan already. Companies like Invesco need to be made to pay an economic price for complicity with the actions of the government of the Sudan.
If the goal is destabilizing a government, yes I agree-- It does work. I agree with you that there is no rational reason why any US company should have holdings that help support the maniacal/murderous regime in Sudan. However, as in the case of SA, sometimes actions undertaken for noble reasons can result in even more chaos---another example(although the goal was not noble) would be Iraq who was rather surprisingly able to pull off elections without incident today but who is rather lacking in other ways.
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Old 01-31-2009, 06:15 PM   #17
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If the goal is destabilizing a government, yes I agree-- It does work. I agree with you that there is no rational reason why any US company should have holdings that help support the maniacal/murderous regime in Sudan. However, as in the case of SA, sometimes actions undertaken for noble reasons can result in even more chaos---another example(although the goal was not noble) would be Iraq who was rather surprisingly able to pull off elections without incident today but who is rather lacking in other ways.
A 2010 referendum on Southern Sudan suceeding from the rest of the country is scheduled. 98% of Southern Sudanese polled favor it. This government NEEDS to be destabilized. The Kartoum government has violated every agreement signed so far...and their president was recently indicted for war crimes by the World Court. Not only are the Sudanese government rulers murdering innocents in their own nation, they are also formenting unrest in Chad and they are a hotbed of terroristic activity including a possible home for Al Qaeda agents. Outside of direct armed intervention...something the US has never undertaken on behalf of any black African nation...divestment is the sole available option.

Back to the point...the Invesco Field managerial board needs to immediately vote on changing the stadium's affiliation with this company if they do not cease business operations in the Sudan. Bronco fans could possibly play a role in making this happen if they would simply let the team know their thoughts on this issue.
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Old 01-31-2009, 06:17 PM   #18
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That makes me really mad. Very well researched and written post, Footsteps. I believe you are right... Divestment works and should be used in this instance.

I think Hickenloper/Ritter would also be good people to petition. A coordinated online push could work, imo.
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Old 01-31-2009, 06:20 PM   #19
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Back to the point...the Invesco Field managerial board needs to immediately vote on changing the stadium's affiliation with this company if they do not cease business operations in the Sudan. Bronco fans could possibly play a role in making this happen if they would simply let the team know their thoughts on this issue.

I agree 110%--perhaps you could email Klis or Razier. This was a great find on your behalf. Major props to you.
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Old 01-31-2009, 08:38 PM   #20
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Don't blame pat... he's a gutless drunk.
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Old 01-31-2009, 09:13 PM   #21
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I'm not an attorney, but I'll point out that the stadium was built with public tax money, and the federal law Bush signed in 2007 authorizes federal legal protection for companies divesting public assets. While the Broncos are not publically owned...is the stadium? If the stadium is owned by the city of Denver, I would bet that Bowlen could at least explore this option based on the protection afforded him. At an absolute minimum...he should take a strong stand that invesco dump their holdings in Petro China. Frankly I could care less if he has legal ground or not...at the end of the day even if he gets sued he ought to drop his association with these guys.

The same attitude kept the US from committing to the divestment action in South Africa for over a decade. The single most important factor in the end of apartheid was pressure on companies doing business there and the divestment of their assets.

Bronco fans should push this issue IMO.
south africas rulers were white and considered themselves largely linked to the west. u could easily just run head into wall, why would saudi arabia or iran not just keep funding sudan? or china for that matter. as long as sudan doesn't care about its links to the west I doubt there is a lack of money to be found. and from what I can tell sudan pretty much thinks the west is satan.

this is funny tho
http://www.ynet.co.il/english/articl...431281,00.html

so thats why its so bad, its the jews.
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Old 02-01-2009, 02:51 AM   #22
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south africas rulers were white and considered themselves largely linked to the west. u could easily just run head into wall, why would saudi arabia or iran not just keep funding sudan? or china for that matter. as long as sudan doesn't care about its links to the west I doubt there is a lack of money to be found. and from what I can tell sudan pretty much thinks the west is satan.
Sudan does care about its links to the west. Divestment by US and European firms in 2006 forced them to the negotiations for a truce with the Southern sector of the country. On top of this, it's mostly western nations that are funding them. They include Canada, the UK, Germany, France, the Netherlands and even Switzerland. Other big players are China, India and Malaysia. The entire Sudanese military budget is well under $1 billion annually and 70% of their revenue comes from oil. Hit their refinery capacity by forcing companies invested there to pay an economic price with sliding stock prices and you damage their ability to fund their military. Aid should also be looked at becuase most of it finds its way into the corrupt government's hands rather than the people it's designed for.
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Old 02-01-2009, 02:56 AM   #23
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That makes me really mad. Very well researched and written post, Footsteps. I believe you are right... Divestment works and should be used in this instance.

I think Hickenloper/Ritter would also be good people to petition. A coordinated online push could work, imo.
Divestment by universities is the first step. Over 60 have already signed on. It's astonishing how much money flows into pension plans and other public trust portfolios through universities. 24 of thd 50 states have signed on with the federal law and pressure on legislators is responsible for most of that.

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Old 02-01-2009, 04:10 AM   #24
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OK this is cool...the House Bill being described here was signed into law on April 19th, 2007. This BTW...was 8 months before Bush signed the federal legislation. So basically the legal protection for Bowlen and the city of Denver is obviously in place and fully functional since the state is covered by the federal act. Now all that remains is for people to apply pressure on the decision makers at Invesco. According to this: http://www.bizjournals.com/denver/st...4/focus10.html
The Broncos getr $3 million a year and the city gets $3 million a year out of this deal, with 12 more years left on the contract.

http://www.thecherrycreeknews.com/content/view/1068/60/

Colorado House approves Sudan - Darfur divestment
Written by Staff
DENVER – The House today unanimously passed the nation’s toughest and most comprehensive legislation to help end the genocide in Sudan. House Bill 1184, sponsored by House Speaker Andrew Romanoff (D-Denver), State Representative Andy Kerr (D-Lakewood), and 74 other legislators in both chambers, passed unanimously on a final vote.


“This is the strongest action that any state has ever taken against the Sudanese government,” said Speaker Romanoff. “Other states, even the federal government, are following our lead to consider divestment legislation to end the unspeakable crimes against humanity in Sudan.”

The bill would require Colorado’s pension funds to maintain a list of those companies that either directly or indirectly help the Sudanese government commit genocide. After an expedited engagement period, the pension funds would be required to divest from those companies that do not change their business practices in Sudan and would be prohibited from future investment in offending companies until the atrocities cease.


The historic passage of this legislation took place less than four months after a group of students at the University of Colorado at Boulder visited Speaker Romanoff’s office to express concerns about the atrocities that were occurring in the African state. Since then, the bill has been endorsed by the Public Employees Retirement Association and other organizations statewide.


“This is the toughest stance that Colorado has ever taken against genocide,” said Romanoff. “We are sending the message that we will not give a dime to the murder, rape, and torture of innocent people.”

The bill now heads to the Senate for further consideration. Information on how individuals can divest from offending companies in Sudan can be obtained from the Sudan Divestment Task Force at www.sudandivestment.org.

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Old 02-01-2009, 08:32 AM   #25
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Don't blame pat... he's a gutless drunk.
That and he is in hiding from the 15 inch aids plusing ding-dong
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