View resolution

Comptroller William C. Thompson, Jr., on behalf of the New York City Pension Funds, has submitted a shareholder resolution asking the Halliburton Corporation to disclose its policies and procedures for all political contributions using corporate monies.

“Halliburton shareholders need full and complete disclosure of its political expenditures to fully evaluate the political use of its corporate assets,” Thompson said. “We are calling on Halliburton to let its shareholders have a voice in charting the future for this critical governance reform. Companies must be more accountable to their shareholders and the public.”

In December, Thompson announced similar resolutions filed with 10 other companies on behalf of the New York City Employees’ Retirement System (NYCERS), Teachers' Retirement System for the City of New York (TRS), New York City Police Pension Fund, New York City Fire Department Pension Fund and the New York City Board of Education Retirement System (BERS).

Resolutions were filed with: Entergy Corporation of New Orleans, LA; Lyondell Chemical Company of Houston, TX; Limited Brands, Inc. of Columbus, OH; EMC Corporation of Hopkinton, MA; Charles Schwab Corporation of San Francisco, CA; CIGNA Corporation of Philadelphia, PA; and, Lockheed Martin Corporation of Bethesda, MD. Measures were resubmitted with: Chevron Corporation of San Ramon, CA, Union Pacific Corporation of Omaha, NE, and Wal-Mart Stores of Bentonville, AR.

Collectively, the Pension Funds have more than $1.3 billion invested in the companies. The Pension Funds have 1,106,760 shares valued at $32,096,040 in Halliburton.
The Pension Funds are requesting that Halliburton disclose all of its political contributions and expenditures made with corporate funds, directly and indirectly, to political candidates, parties, committees, and other entities organized and operating under 26 USC Section 527 of the Internal Revenue Code.

If the measure is adopted, Halliburton will be asked to prepare a report that will include the following: the accounting of the Company’s funds used for political contributions; the identification of the person (s) who made the political contributions; and a copy of the company’s internal guidelines governing political contributions. The report will be presented to the Audit Committee of its Board of Directors, and posted on its web site.

Besides Thompson, the Pension Funds’ trustees are:

Fire Department Pension Fund: Mayor Michael Bloomberg; New York City Fire Commissioner Nicholas Scoppetta (Chair); New York City Finance Commissioner Martha E. Stark; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; Peter Gorman, President and Captains’ Rep., Nicholas J. Visconti, Chiefs’ Rep., and Stephen J. Carbone, Lieutenants’ Rep., Uniformed Fire Officers Association; and, Joseph Gagliardi, Marine Engineers Association.

Police Pension Fund: Mayor Michael Bloomberg; New York City Finance Commissioner Martha E. Stark; New York City Police Commissioner Raymond Kelly (Chair); Patrick Lynch, Patrolmen’s Benevolent Association; Michael Palladino, Detectives Endowment Association; Edward Mullins, Sergeants Benevolent Association; Anthony Garvey, Lieutenants Benevolent Association; and, John Driscoll, Captains Endowment Association.

NYCERS: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (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.

TRS: 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.

BERS: mayoral appointees Schools Chancellor Joel Klein, Alan Aviles, Philip Berry, David Chang, Tino Hernandez, Augusta Souza Kappner, Richard Menschel and Marita Regan; Borough President appointees Jesse Mojica (Bronx), Martine G. Guerrier (Brooklyn), Vivian Farmery (Manhattan), Michael Flowers (Queens), and Joan Correale (Staten Island); and employee members Thomas J. Malanga of the International Union of Operating Engineers, Local 891, and Milagros Rodriguez of District Council 37, Local 372.

###