NYSE withdraws support for Jesse Jackson conference

[katinmn]

http://releases.usnewswire.com/GetRelease.asp?id=41495

Check out this press release. It's very dirty. They are getting back at him for fighting vote fraud. We need to fight back. :-(

NLPC Welcomes Cut-Off of Jesse Jackson Support by New York Stock Exchange

1/11/2005 8:11:00 AM
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To: National Desk, Legal Reporter

Contact: Peter Flaherty of National Legal and Policy Center, 703-237-1970; Web: http://www.nlpc.org

WASHINGTON, Jan. 1 /U.S. Newswire/ -- Peter Flaherty, president of the National Legal and Policy Center (NLPC), today reacted to the New York Stock Exchange's decision not to provide funds for Jesse Jackson's 2005 Wall Street Conference, opening today in New York City. The NYSE had helped underwrite the event in previous years.

The NYSE action is in apparent response to requests made by NLPC, and is reported by CNSNews.com today

Flaherty commented, "I am encouraged that the NYSE has now apparently met our request to cut off Jackson. It looks like the Exchange takes corporate ethics seriously. One of the last vestiges of Richard Grasso's failed legacy has been swept away."

On September 29, 2003, NLPC urged then-interim NYSE Chairman John Reed to "cease and desist" from further NYSE support for Jackson. On October 23, 2003, media reports indicated that the NYSE had denied Jackson use of the Exchange floor for a fundraising gala connected to the 2004 Wall Street Conference, but that it would remain a financial supporter.

On January 12, 2004, Flaherty wrote incoming NYSE CEO John Thain applauding the denial of Jackson's use of the Exchange floor, but stating that continued financial support of Jackson's groups was "unacceptable."

Flaherty continued, "This move is significant because once an institution has been successfully shaken down by Jackson, it is difficult to escape him in future years. Jackson can never really be bought, only rented."

"Jesse Jackson has made repeated trips to Ohio in an attempt to overturn the results of the presidential election. He led a march on the Ohio Supreme Court and demand it award Ohio's electoral votes to John Kerry. These are the actions of a demagogue. It is inappropriate to force the customers and shareholders of American corporations to subsidize these activities."

"The NYSE cut-off is a dramatic step that puts the individual companies that bankroll Jackson on the spot. It is a lot harder for the Verizons and PepsiCos to argue that there's nothing wrong with supporting Jackson's groups. We plan to intensify our campaign against these companies and several others."

In recent weeks, NLPC has filed shareholder resolutions with Verizon, PepsiCo and Fannie Mae to end their support of Jackson's groups. Verizon and PepsiCo have appealed to the Securities and Exchange Commission to exclude NLPC's proposals.

In 2001, NLPC filed a formal IRS Complaint against the so- called Citizenship Education Fund (CEF), Jesse Jackson's largest nonprofit group. The Complaint alleges that Jackson, his family and friends have become wealthy through the operation of the CEF. The Complaint cites news articles detailing Jackson's "opulent lifestyle."

In 2003, NLPC organized and led a widely publicized protest of NASCAR's support for Jesse Jackson's organizations. NASCAR acknowledged on its own website that it was the most heated protest it had ever faced.

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NLPC promotes ethics in public life, and sponsors the Corporate Integrity Project.

http://www.usnewswire.com/

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