The principles bar the investment of city and state pension funds in companies that practice sectarian or political discrimination.
Currently, New York City has some 1 million shares in Kentucky Fried Chicken worth about $30 million. New York State owns 1.2 million shares, worth around $35 million. The money comes from police, teachers, fire department, and New York City and state employees pension funds.
Minnesota has some $3 million worth of shares invested in KFC. It is expected that Connecticut, which has some 256,000 shares, worth around $9 million, will also take action.
New York City will sponsor a resolution this Friday, Nov. 29, co-sponsored by New York State, formerly notifying the Louisville, Ky.-based Yum! Brands that it intends to put the issue before the shareholders demanding that the MacBride Principles be implemented in all the 28 KFC outlets in Northern Ireland. Filing a shareholders