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NYC pension fund will make new proposal on Halliburton's ties to Iran
May 21, 2004
(Summary of Crain's Communications Article) The New York City Police and Fire Department pension funds, which are shareholders of Halliburton, want to force the company to issue a report on the risks to shareholders of its investments in Iran. Their proposal was voted down at the company's shareholder meeting in May, but 7.4 percent of shareholders voted in favor of the proposal, which means it qualifies to be reconsidered again later this year. Shareholders need three percent of the total number of votes in order to resubmit a proposal. "We voluntarily looked into this issue last year and found that there is no connection between the Halliburton products and services and either terrorism or nuclear research," a Halliburton spokeswoman told Crain's Communications.