On his own, Alameda County treasurer divested from Caterpillar, a symbol of trauma for Palestinians
Treasurer disclosed transaction during discussion of a new ethical investment policy; DA appointment process finalized; DA's Motion is a roadmap to FBI probe; Emeryville appoints new mayor
COUNTY NEWS
BOARD OF SUPERVISORS
—Alameda County Treasurer-Tax Collector Henry Levy sought to sell three county bonds for the Caterpillar Corporation, a frequent target for divestment because of its ties to the Israeli occupation of Gaza.
—Levy made the disclosure Tuesday afternoon at a discussion on a proposed ethical investment policy at the Alameda County Board of Supervisors.
—“In my opinion, today’s discussion should be about better investment policy, not about divestment. However, it is on the table. So, let’s get it out.”
—He later announced that two of three bonds associated with Caterpillar have already been sold.
—As an elected official, Levy has quite a bit of discretion to unilaterally divest from companies for whatever reason.
—Supervisor Keith Carson placed the request on an agenda last month for Levy to begin formulating an “ethical fiscal investment policy,” but the discussion was postponed after Supervisor David Haubert continued the item.
—On Tuesday, Levy said his aim is to create an investment policy, rather than act separately from the Board of Supervisors.
—Activists have long protested Caterpillar because of the use of its heavy equipment by Israel to bulldoze Palestinian settlements
—“Caterpillar is not a weapon,” Haubert said. “I don’t believe Caterpillar said, please use our tractors in this way. If we divest from all tractors how are we going to build homes?”
—Levy acknowledged Haubert’s point, asking “Where do we stop? Is there a ‘good corporation’ out there?”
—Nevertheless, Levy moved to sell the Caterpillar bonds after determining the company’s behavior in Palestine runs in opposition to the county’s values.
—“I would never want my actions to create fear among my fellow Jews or harm any other group,” Levy said. “I would do everything I could to help them understand to make this world a safer place for them.”
