The press release says several aldermen and labor representatives announced today that American National Bank, a major shareholder of Royal Dutch/Shell, has agreed to join a call for an extraordinary shareholders meeting that will allow investors to vote on ending Shell's South Africa operations. The press release says at today's news conference, led by Ald. Allan Streeter, the group called on all Shell investors in Illinois to follow suit; major local shareholders include Northern Trust Bank, Continental Illinois Bank, All State Insurance and Sears. The press release says with nearly one million shares, American National Bank is the largest Illinois holder of Shell stock; the bank was sent...
The press release says several aldermen and labor representatives announced today that American National Bank, a major shareholder of Royal Dutch/Shell, has agreed to join a call for an extraordinary shareholders meeting that will allow investors to vote on ending Shell's South Africa operations. The press release says at today's news conference, led by Ald. Allan Streeter, the group called on all Shell investors in Illinois to follow suit; major local shareholders include Northern Trust Bank, Continental Illinois Bank, All State Insurance and Sears. The press release says with nearly one million shares, American National Bank is the largest Illinois holder of Shell stock; the bank was sent a formal request by the Comptroller of the City of New York to join the shareholders' action; public employee pension funds, the American Baptist Churches USA, Wells Fargo Bank, Mellon Bank and other large institutional shareholders have also joined the call for the extraordinary meeting of shareholders. The press release says on March 28, Streeter, Bishop Jesse DeWitt of the United Methodist Church, State Rep. Woods Bowman, associate director of AFSCME Council 31 Rosetta Daylie, Harold Rogers of the Coalition of Black Trade Unionists and others met with American National Bank representatives to encourage the bank to respond. The press release says Royal Dutch/Shell is the largest corporation in the world in terms of assets. It requires 10 percent of the shareholders to call an extraordinary meeting; more than 13 million shares, or about one-half of the shares needed, are now committed to take the unusual action on Royal Dutch/Shell. The press release says Royal Dutch /Shell, and its U.S. subsidiary Shell Oil Co., are the target of a growing worldwide boycott led in the U.S. by the AFL-CIO, the Free South Africa Movement, the Coalition of Black Trade Unionists, the United Mine Workers, the United Auto Workers, and many other labor, religious and civil rights groups. The press release says Shell is one of only 6 oil companies in the world which do not comply with a United Nations' ban on fuel to South Africa; Shell provides fuel to South Africa's notorious police and security forces; the National Union of Mineworkers which represents Shell employees in South Africa instigated the boycott nearly 3 years ago. The press release says Streeter charged that the apartheid government, aided by its allies including Shell, is on a "collision course." The press release says the government is cracking down more severely on its opposition; most recently, it has banned anti-apartheid organizations, muzzled the nation's largest labor federation, arrested Bishop Desmond Tutu, and plans to hang the Sharpeville Six next week; but "the South African authorities cannot stop the freedom struggle in South Africa and the inevitable fall of apartheid." The press release says some U.S. companies claim that they are staying in South Africa to help blacks. But Streeter calls these claims "absurd." The press release says "When South African blacks risk imprisonment to call for disinvestment and sanctions, who are these American businessmen to say they know better than those who risk their lives in South Africa?" The press release says Streeter and other aldermen will ask the City Council to join with labor and clergy groups to make a "clean sweep of Chicago and Illinois." The press release says "No ties to the South African government will be tolerated. That government must pay a price for apartheid." The press release says Streeter will ask the City Council to call for a total boycott of Shell Oil in Chicago until the company ends its operations in South Africa. The press release says with regard to Shell shareholders, Streeter said that, "We simply ask investors to condemn the injustices of apartheid by using their vote to pull Shell out of South Africa. We promise to take action against those who cooperate with Shell. Why should we allow Shell on the one hand to freely profit in our midst while their other hand exploits South African workers?" The press release says joining Streeter at Friday's news conference were Rosetta Daylie of AFSCME, Aldermen Danny Davis and Jesus Garcia, Johnnie Jackson, president of the Coalition of Labor Union Women /Chicago, and auto and other labor representatives. The press release says for further information contact Kathy Devine. The press release discusses the Coalition of Black Trade Unionist (CBTU), AFSCME (American Federation of State, County and Municipal Employees), the United Auto Workers (UAW), and the National Union of Mineworkers (NUM).
