C’ville Yanks Sudan-Related Investments

City Council has agreed to divest its holdings in any companies that do business with Sudan’s government, Rachana Dixit writes in the Progress. The city doesn’t think that any of its $87M in investments are going to be affected, but it does set a policy for staff going forward. Sudan is a seriously bad situation, with the government having killed hundreds of thousands of their own citizens in the past few years. Most states in the nation now have policies similar to Charlottesville’s, as do nineteen other cities.

8 thoughts on “C’ville Yanks Sudan-Related Investments”

  1. Might make us feel good, but I doubt if any Sudanese person, citizen or official, gives a rip if C-ville “writes them off.” I doubt if there are many (if any) people in Sudan who even know of C-ville. It is obvious, by the report, that there is hardly a chance that C-ville has any investments in companies involved in Sudan.

  2. The Sudanese citizens are not the targets of this measure. The Sudanese officials are. It is much larger than C-ville “writ[ing] them off.” Yes, if one city decides to divest from an area it will not have an impact. The impact is made when many divest and Sudanese divestment is a growing movement. Foreign investment is vital and this shows the government that there will be no foreign investment in their country. You might argue that they dont/wont care and that might be true. But I can guarantee they would love to have foreign capital flowing into their economy.

  3. The biggest problem Putin will face on his Georgia issue will be similar in nature. It is the fact that his actions speak to a fear of lawlessness from the government which will slow down investment.

    And Sudan has much less to work with than Russia.

  4. Yeah, and let’s not forget that Charlottesville is the center of the universe and everybody watches and cares what it does.

  5. Just because a particular action won’t have an earth-shattering effect, that doesn’t necessarily mean that we shouldn’t DO it. At the very least, it’s a matter of principle.

    Besides what else would you suggest? Should Charlottesville invade Sudan on a peacekeeping mission?

  6. Folks, Sudan doesn’t care about Charlottesville. They get their investment money from China who is buying their oil and other mineral rights.

    Money for Oil is real, but its the Chinese who are behind it.

  7. Divestment campaigns are based on a fundamental misunderstanding of how equity markets work.

    Its not changing Sudan’s financial situation. Once a stock issue has been made, the corporation doesn’t care whether you sell it, burn it, or anything else, because they’ve already got all the money they’re ever going to get from that stock. So they don’t care.

    We can’t divest unless we sell it to somebody. And if we burn the stock, that just helps the corporation, because it reduces the amount of stock outstanding, so that can’t be right. If we sell it to somebody, we have just gotten rid of our guilt in order to impose guilt on somebody else.

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