Company exceeds city's request by prohibiting discrimination based on gender identity

View the Comptroller's Letter to General Dynamics
View General Dynamics Response
View the city's Non-Discrimination Resolution

Comptroller William C. Thompson, Jr., on behalf of two New York City Pension Funds, today announced that defense industry contractor General Dynamics has agreed to adopt a policy prohibiting discrimination based on sexual orientation.

General Dynamics, which is based in Falls Church , VA , has notified the Comptroller that it has taken steps to revise its Corporate Equal Employment Opportunity and Affirmative Action Plan policy, which took effect last week.

“General Dynamics has recognized the value of treating all employees equally and with the fairness they deserve,” Thompson said. “This represents not just a victory for the City and all lesbian, gay, bisexual and transgender employees at General Dynamics, but for everyone who is part of the struggle to advance equal treatment for the LGBT community. This decision sends a message that corporate America must be a leader, and not a roadblock, in the path to equality.”

The development represents the latest victory achieved by the Pension Funds in urging some of America 's largest companies to explicitly prohibit discrimination based on sexual orientation. Since these efforts began nearly a decade ago, the Funds have successfully prompted close to three dozen companies to amend their policies.

The General Dynamics' resolution was filed on behalf of the New York City Employees' Retirement Fund (NYCERS) and New York City Teachers' Retirement System (TRS).

The City now will withdraw its resolution filed with General Dynamics, a leading supplier of sophisticated defense systems to the United States and its allies. The City's funds have more than 726,000 shares valued at more than $81.1 million in the company.

Trustees and Thompson lauded General Dynamics for exceeding the City's request by adding additional language into its policy to bar discrimination based on sexual orientation.

In its letter to the Comptroller's Office, General Dynamics indicated that it is “dedicated to the principles of equal employment opportunity for all employees and prospective employees and to the employment and advancement of people based on their individual qualifications, skills and, abilities.”

“It is great news that NYCERS and TRS have persuaded another major company to ban discrimination based on sexual orientation and gender identity,” said New York City Public Advocate Betsy Gotbaum. “Companies that follow fair labor and hiring practices are not only doing the right thing for their employees but also providing a better long-term investment for their shareholders.  Once again, New York City is leading the way in shareholder activism and ensuring that members get the best possible return on their money.”

The New York City Pension Funds last season filed three resolutions asking companies to adhere to the Equality Principles, which encompasses measures to bar discrimination based on both sexual orientation and gender identity. In March, the City withdrew its shareholder resolutions filed with the Cerner Corporation of Kansas City , MO , and Toys ‘R' Us of Wayne, N.J. after the companies agreed to comply with the Principles.

The Funds other resolution was filed with Delta Airlines of Atlanta, GA. The resolution received 8.9 percent of votes cast by shareholders , allowing the City to resubmit the resolution this new season.

In addition to Thompson, NYCERS trustees are: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents C. Virginia Fields (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Carroll (Carl) Haynes, President, International Brotherhood of Teamsters, Local 237.

Besides Thompson, the other TRS trustees are: New York City Finance Commissioner Martha E. Stark (Chair); Deputy Chancellor Kathleen Grimm, New York City Department of Education; and, Sandra March, Melvyn Aaronson and Mona Romain, all of the United Federation of Teachers.

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