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New York state's public pension fund has filed a lawsuit against Qualcomm (QCOM) in an effort to...

New York state's public pension fund has filed a lawsuit against Qualcomm (QCOM) in an effort to force the company to disclose how it allocates funds towards political causes. Officials are targeting QCOM in particular due to the resistance the company has shown in cooperating, despite a formal request by the pension fund as well as other institutional investors. Experts say the lawsuit's outcome could potentially have a lasting impact on corporate political giving in the future.
Comments (6)
  • orangutan
    , contributor
    Comments (215) | Send Message
     
    A tiny, tiny step in getting non-human corporations out of our political campaigns. I fully support the right of any citizen to participate in our political process.
    3 Jan 2013, 07:24 PM Reply Like
  • txbadonetoo
    , contributor
    Comments (263) | Send Message
     
    I would hope that you then classify 'Unions' as non human entities as well. After the very recent Citizens United Supreme Court case I would think the outcome of this law suit would be evident.

     

    If I was a member the pension fund I'd want the managers to focus on the quality of the investment's and not their political donations. The fund chose to invest in QCOM - which is a great company and one that I hold long positions in.
    3 Jan 2013, 07:38 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5143) | Send Message
     
    Follow the trail of union money in New York.... Straight to the Democratic Party.
    3 Jan 2013, 07:32 PM Reply Like
  • User 6665681
    , contributor
    Comment (1) | Send Message
     
    a private company should be able t o spend their money any way they want, and donate to any candidate they want, without government oversight. we are not (yet) a communist country . . .
    4 Jan 2013, 04:35 AM Reply Like
  • johbacott
    , contributor
    Comment (1) | Send Message
     
    The NY State Comptroller made a choice to invest in QCOM, He can choose to exist too.
    4 Jan 2013, 01:33 PM Reply Like
  • minwyhe
    , contributor
    Comments (103) | Send Message
     
    Interesting that a company that is known for its activities in support of workers rights and liberal causes is being attacked by a union. Was this right wing activist on this New York's pension funds board who has taken this action in retaliation. Sounds like it is so to me. We need to know this Board members affiliation to ascertain if it motivated by causes not related to what he has brought up. If he is innocent then why did he not attack the myriad corporations who back right wing causes and contribute to such causes? .
    6 Jan 2013, 02:55 PM Reply Like
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