February 16, 2011
By Staff Reporter
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