State Sen. Andrea F. Nuciforo Jr., testified today in support of a bill he authored that would require the Commonwealth to divest public money from international companies that have ties to the Sudanese government.
"Public employees in Massachusetts should not have to worry that their pensions are coming from businesses that support a genocidal and terrorist regime," said Nuciforo (D-Pittsfield), the Senate Chair of the Financial Services Committee. "The purpose of divesting is to encourage the companies that do business with Sudan to halt operations until the Sudanese government stops the violence and allows international aid to provide critical assistance."
The bill, which was heard by the Joint Committee on Public Service, requires the State Treasurer to sell any stocks or securities of companies that are engaged in business with Sudan. Specifically, the Commonwealth would have to abide by the following schedule:
Not less than 30 percent of retirement system's assets in such companies shall be divested later than 4 months after the effective date;
Not less than 60 percent of retirement system's assets in such companies shall be divested later than 8 months after the effective date;
Not less than 100 percent of retirement system's assets in such companies shall be divested later than 12 months after the effective date.
According to the legislation, if the state Treasurer determines that a company which had previously been considered to have been engaged in business directly, or through a subsidiary, in or with Sudan has ceased business operations with Sudan, the state pension fund can reinvest in that company. Moreover, if the government of Sudan sufficiently halts the ongoing genocide in Darfur for at least 12 months, as determined by the US State Department, the Treasurer shall inform the Legislature.
Last year, a bipartisan Congressional resolution unanimously declared that genocide had occurred in Sudan. The UN said the situation in Darfur, Sudan is the worst humanitarian crisis in the world today. Sudan is also on the US State Department's list of state sponsors of terrorism.
In 1997, the Clinton Administration imposed restrictions on American companies from doing business with Sudan. However, many international companies still do business with the unelected, fundamentalist government of Sudan. Supporters of the divestment bill say that these companies provide the financial resources and moral cover for the Sudanese government. The companies, 83 in total, include PetroChina, Taftnet, ABB, Alcatel, and Seimens, which are listed on the New York Stock Exchange and are owned by state pension funds across the country.
The non-profit Center for Security Policy estimates that Massachusetts has a total of $1.4 billion invested in these, and other international companies. Harvard University has announced that it will sell about $4.4 million of shares of PetroChina. Dartmouth College also voted recently to avoid such investments.
Last year, Nuciforo met with several students at Williams College, including Seth Izen, who supported the divestment proposal.
"There has been a strong public outcry against public investments in companies that support the genocidal regime in Sudan. As a result, several states have already divested, including New Jersey, Illinois and Oregon," said Izen. "I'm proud that Senator Nuciforo has led the campaign to get Massachusetts to divest from Sudan. The Legislature would be demonstrating its moral character by passing this bill."
The bill has seven Senate co-sponsors, and 16 House co-sponsors.
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Former Harry's Supermarket Under Construction for Restaurant
Late last month, the Conservation Commission greenlit some tree pruning on the property. New windows and a new door can be seen in the front of the building.
"It's a substantial renovation that's currently underway here," Brent White of White Engineering said, speaking on behalf of the applicant and owner, Huajie Zhu.
A fire gutted the longtime Wahconah Street supermarket in 2023, and the following year, Zhu purchased the property for $460,000 two years ago to build a restaurant with hibachi in the existing footprint of the more than 100-year-old building.
White explained that the project has been ongoing for over a year, and the Community Development Board granted the property a waiver to reduce the minimum required number of parking spaces so that additional spaces aren't needed.
He noted that, looking at the site plan, there is very little room to do so. A mirror will be installed near the sharp turn on Bel Air Avenue to alleviate traffic concerns.
Pruning will be done on trees in the southeast corner of the existing paved parking lot, as a number of branches are hanging over. The new owners also intend to patch, sealcoat, and re-stripe the parking lot.
A fire tore through the building less than an hour after the supermarket closed for the day three years ago. An automatic sprinkler system is required for the new use.
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