Sunday, November 13, 2011

Sisters of St. Francis, the Quiet Shareholder Activists - NYTimes.com

Sisters of St. Francis, the Quiet Shareholder Activists - NYTimes.com:

"Long before Occupy Wall Street, the Sisters of St. Francis were quietly staging an occupation of their own. In recent years, this Roman Catholic order of 540 or so nuns has become one of the most surprising groups of corporate activists around.

The nuns have gone toe-to-toe with Kroger, the grocery store chain, over farm worker rights; with McDonald’s, over childhood obesity; and with Wells Fargo, over lending practices. They have tried, with mixed success, to exert some moral suasion over Fortune 500 executives, a group not always known for its piety.

”We want social returns, as well as financial ones,” Sister Nora...."

I sit on the investment board for a The Franciscan Sisters of Allegany and will vouch for their sagacity when it comes to socially responsible investing.

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