Caterpillar Shareholders Reject Review of Sales
From Times Wire Reports
Shareholders of Caterpillar Inc. have rejected a proposal that the company review its sale of bulldozers used to demolish houses and other property by Israel. The proposal was rejected by parties holding 97% of the company’s shares, the firm announced at the heavy-equipment manufacturer’s annual meeting in Chicago.
The proposal put to shareholders asked that the company’s board appoint an outside committee to investigate whether the sale of bulldozers directly or indirectly to the Israeli Defense Forces violated the company’s code of worldwide business conduct.
The proposal was opposed by many Jewish organizations such as the American Jewish Congress and StandWithUS.
