The [Bill] Gates Foundation is heavily invested in Caterpillar Inc.
The foundation's holding as at February 7, 2011 was 10,090,400 shares, or approx $745,000,000.
The following letter was sent to the Gates Foundation by Frank Giampa
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To: "info@gatesfoundation.org" <info@gatesfoundation.org>
Sent: Monday, January 23, 2012 3:49:12 PM
Subject: Caterpillar
Dear Bill and Melinda,
Congratulations on the many benefits that your foundation affords to people whom otherwise suffer. You both should be canonized for sainthood.
I wish to bring an issue to your attention after finding that the foundation has invested in Caterpillar. I am an employee for Caterpillar in London, Ontario, Canada. We are a subsidiary of Progressive Rail, formerly General Motors.
Our Collective Agreement expired in June 2011. An extension of six months was agreed upon by both parties, the Canadian Auto Workers and Caterpillar. In that time, Caterpillar presented an offer of slashing wages by up to 55% for most employees, discontinuing the defined pension benefits, and heavily slashing health benefits as well as many social benefits to the existing contract. The company has locked out it's employees as of December 31 2011. The company refuses to return to the bargaining table and bargain in good faith unless these demands are met.
As you can imagine, these demands are an attack on our economic security and would be turning back the clock some twenty years. Already some members and their families are enduring economic hardships as having to sell their homes, choose between purchasing food or medicines and other
families are breaking down.
We are not asking for sympathy or turning to the foundation for assistance. We only ask that the foundation re-consider the investment choices that reflect more socially responsible companies.
Thank-you for your time,
Sincerely,
F. Giampa
London, Ontario
Canada
