Israel News | Zionism Israel Center | Zionism History | Zionism Definitions | ZioNation | Forum | Zionism FAQ | Maps| Edit

Saturday, September 12, 2009

TIA -CREF Pension Divests from Africa Israel over West Bank Ventures

Remember the vote notice you got in the mail? The one you didn't bother with? ...
Someone else did bother with it, of course...Time to divest from TIA-CREF, if you can.
Last update - 20:02 12/09/2009
U.S. pension fund divests from Israel firm 'over West Bank ventures'

The U.S. pension fund giant, TIAA-CREF, confirmed in statements to the media on Friday that it divested from Africa Israel Investments, owned by Israeli billionaire Lev Leviev, earlier this year.
A pro-Palestinian group reported Friday that the move was in protest against the firm's business ventures in the West Bank.
The statements came in response to a letter initiated by Adalah-NY (the New York office of the Legal Center for Arab Minority Rights in Israel) and signed by TIAA-CREF clients.
The fund's investment in Africa Israel amounted to only $257,000, so the financial effect of the divestment is minimal. The news of the divestment came as the Israeli firm was suffering a deep financial crisis, having recently announced that is unable to meet its liabilities to its bondholders.
Officials at Adalah-NY claim that TIAA-CREF made the decision after the organization presented data on Africa Israel's activities in the West Bank.
Adalah NY noted in its press release that "Despite the recent divestment from Africa-Israel, the new June 30th TIAA-CREF report indicates that the fund continues to invest clients' money in a number of companies supporting Israeli settlement activity including Israel Discount Bank, Cellcom Israel, Bezeq Israeli Telecommunications Corp, Bank Leumi, and Motorola, among others."
Earlier this month the Norwegian government announced it was pulling all of its investments from Elbit Systems, which manufactures the monitoring system installed on several parts of the West Bank separation fence.
Norwegian Finance Minister Kristin Halvorsen said that the decision was based on the recommendation of her ministry's council. "We do not wish to fund companies that so directly contribute to violations of international
humanitarian law," Halvorsen was quoted as saying, explaining that the separation barrier impinged on the freedom of movement of West Bank residents.

Labels: ,

Copyright - Original materials copyright (c) by the authors. Originally posted at Please do link to these articles, quote from them and forward them by email to friends with this notice. Other uses require written permission of the author.


  • It's false.
    [David Bernstein, September 12, 2009 at 3:07pm] Trackbacks
    TIAA-CREF Divests from Israeli Company--Not::

    A group of left-wing professors sent a letter to TIAA-CREF asking it to divest from Africa Israel because it allegedly supports settlement activity on the West Bank. TIAA-CREF responded that it had already sold the small stake it owned in Africa Israel. Left-wing activists are now spinning this as "divestment" from an Israeli company, and some of the media are biting. But near as I can tell, all it means is that TIAA-CREF had sold the stock, as it buys and sells dozens of stocks every year, without regard to a letter it received thereafter. I myself have sold several Israeli stocks this year, but not because I'm divesting.

    According to the Chronicle of Higher Education:

    But this afternoon a TIAA-CREF spokesman said the pension company "no longer owns shares in Africa-Israel Investments Ltd." The spokesman, Chad Peterson, said that, "earlier this year, the CREF Stock Account had an extremely small investment" in Africa-Israel, but the holding has since been sold.... TIAA-CREF posted a statement on its Web site reiterating Mr. Peterson's assertions and noting that the "small number of shares" of Africa-Israel have not been part of the CREF account since June 30, when they were dropped from an emerging-markets index that the account tracks.

    Doesn't sound remotely like "divestment" to me.

    Dishonest activist groups + credulous media equals bogus stories.

    By Blogger DB, At September 12, 2009 7:25:00 PM GMT+00:00  

  • Please note that Ha'aretz has corrected this article. There was no relationship stated by TIAA-CREF between its decision and Israeli settlements, and the divestment decsion came before TIAA-CREF was contacted about settlements:

    By Blogger Pat, At September 12, 2009 8:27:00 PM GMT+00:00  

  • Actually, like recent BDS "victories" at Motorola, Caterpillar and Hampshire College, the "TIAA-CREF divested from Israel" story looks like yet another divestment hoax. (One of many this year, looks like a pattern.)

    Find out more at


    By Blogger Site Owner, At September 14, 2009 12:54:00 AM GMT+00:00  

  • This was not a political decison- this was pure capitalism, based on economic reasons:

    Statement on Letter to TIAA-CREF by Coalition for Justice in the Middle EastNew York, September 11, 2009 --
    TIAA-CREF no longer owns shares in Africa-Israel Investments Ltd. A letter dated September 11 from the Coalition for Justice in the Middle East calls on TIAA-CREF to sell shares in that company, which the signatories allege builds and maintains homes in Israeli settlements on Palestinian land.

    While a small number of shares of Africa-Israel Investments Ltd. were held in the CREF Stock Account, since June 30, 2009 they are no longer held in the Account following their removal from an emerging markets index that the Account tracks, as part of a regular rebalancing.

    Tia-Creff still invests millions in Israeli ventures

    By Blogger Dusty, At September 14, 2009 4:18:00 PM GMT+00:00  

  • The situation is NOT clear. Ha'aretz has NOT changed their story. TIA-CREFF issued a press release that since vanished from the Web.
    See and thanks for your alert comments.

    By Blogger News Service, At September 15, 2009 4:42:00 PM GMT+00:00  

Post a Comment

<< Home

Subscribe to
email newsletter for this site and others

Powered by

Feedblitz subcription
To this Blog only

You can receive our articles by e-mail. For a free subscription, please enter your e-mail address:

Preview | Powered by FeedBlitz

Web Logs & Sites

This Site

Zionism & Israel
Zionation Web Log
IMO Web Log (Dutch)

ZI Group
Zionism-Israel Pages
Israël-Palestina.Info (Dutch & English)
Israƫl in de Media
MidEastWeb Middle East News and Views
MidEastWeb Middle East Web Log

Brave Zionism
Israel: Like this, as if
Israel & Palestijnen Nieuws Blog

Friends and Partners
EinNews Israel
Israel Facts
Israel Proud Adam Holland
Middle East Analysis
Irene Lancaster's Diary
Middle East Analysis
Israeli-Palestinian Conflict
Israel Facts (NL)
Cynthia's Israel Adventure
Jeff Weintraub Commentaries and controversies
Meretz USA Weblog
Pro-Israel Bay Bloggers
Simply Jews
Fresno Zionism
Anti-Racist Blog
Sharona's Week
Z-Word Blog
Jewish State
Take A Pen - Israel Advocacy
Zionism on the Web
ZOTW's Zionism and Israel News
Zionism On The Web News
ZOTW's Blogs
Christian Attitudes
Dr Ginosar Recalls
Questions: Zionism anti-Zionism Israel & Palestine
Southern Wolf
Peace With Realism
Sanda's Place
Liberal for Israel
Realistic Dove
Blue Truth
Point of no Return
Christians Standing With Israel
Christians Standing With Israel - Blog

Encylopedic Dictionary of Zionism and Israel
Middle East Encyclopedia
Zionism and its Impact
Zionism & the creation of Israel
Zionism - Issues & answers
Maps of Israel
Christian Zionism Resources
Christian Zionism
Albert Einstein
Gaza & the Qassam Victims of Sderot
Zionist Quotes
Six Day War
Jew Hatred
Learn Hebrew
Arab-Israeli Conflict
International Zionism

Palestinian Campaign for the Academic and Cultural Boycott of Israel
Israel Boycott
Boycott Israel?
Amnesty International Report on Gaza War
Boycott Israel?
Dutch Newspaper Reporting: A Study of NRC Handelsblad
Hamas (Dutch)
Dries van Agt (Dutch)
Isfake lobby

At Zionism On the Web
Articles on Zionism
Anti-Zionism Information Center
Academic boycott of Israel Resource Center
The anti-Israel Hackers
Antisemitism Information Center
Zionism Israel and Apartheid
Middle East, Peace and War
The Palestine state
ZOTW Expert Search
ZOTW Forum

Judaica & Israel Gifts
Jewish Gifts: Judaica:
Ahava Products

Powered by Blogger

Subscribe to
Posts [Atom]

RSS V 1.0

International Affairs Blogs - BlogCatalog Blog Directory