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Stronger Missouri investment policies against investing in companies with terrorism ties sought |
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Chris Blank • The Associated Press • March 23, 2010 Jefferson City -- Missouri's former state treasurer is teaming with a Republican lawmaker to prod state retirement fund officials to strengthen policies against investing in companies with terrorism ties. Legislation filed Monday would bar state pension systems from investing in companies that do business with countries such as Iran, Syria and Sudan, which are led by governments the United States considers sponsors of terrorism. The measure comes about a year after Missouri's largest pension fund for state employees rescinded a policy requiring stepped up screening of companies for possible terrorism links. "We shouldn't be investing taxpayer dollars in companies that do business with these governments," said Sarah Steelman, a Republican who served as state treasurer from 2005-2009. Steelman served on the pension board as state treasurer and is married to David Steelman, who was appointed to the board by Gov. Jay Nixon last year. At Sarah Steelman's behest, the Missouri State Employees' Retirement System in 2005 approved a policy requiring terrorism screening on direct investments. The pension fund paid $23,000 a year to a consultant to screen for possible terrorism ties. But no investments were sold specifically because of support for terrorism, and the board dropped the policy in March 2009 because it decided the screening was not cost-effective. It now checks investments against a federal list of companies with terrorist ties. "The bottom line is the MOSERS board does not support terrorism, and MOSERS has a cost-effective policy and procedure to assure itself that we are not investing in terrorist activities," said Chris Rackers, the manager of investment policy and communication for the pension fund. Steelman told reporters that she recommended the fund drop some investments but was overruled. The legislation sponsored by Rep. Jason Smith would require state-funded employee retirement systems to divest from companies found to be doing business with governments that sponsor terrorism. |
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Steelman backs Blunt in U.S. Senate race |
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Sarah Steelman Will Lead "Small Businessmen and Women for Blunt" |
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Republicans of the Future |
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by Mark McKinnon www.thedailybeast.com
In the second in a series of posts on the 2012 landscape, former Bush and McCain strategist Mark McKinnon names six GOP up-and-comers who could fill the party’s leadership vacuum—and make it likable again. Republicans have a problem. Polls suggest the public does not care for our policies and they do not trust our politicians. Hell, even a third of Republicans in a recent poll don’t like the party. Recent elections have only confirmed the obvious, leaving Republicans virtually irrelevant in Washington, D.C. But the problem goes further than that. Read More |
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SEMO Times Steelman Interview |
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by Jim Carrier Found at www.semotimes.com To some, Sarah Steelman is a rogue politician who only cares about her own ambitions, even at the expense of her own party. However, after you are done canvassing the few hundred most rabidly patrician Republicans (which is being estimated at 300 is a bit high these days) and you get to visit with regular Missourians, you will find that most folks see Sarah Steelman as a maverick who has the courage to fight for working families and is not about to take orders from party bosses when they conflict with her conservative principles. We recently had a chance to sit down and interview Sarah Steelman, not in some stuffy government meeting room or high priced office tower, but instead in a mall around regular people like you and me, where she is the most comfortable. After the interview, we decided that no story we could write could be as informative or interesting as us removing the filter and allowing you to hear Sarah Steelman “in her own words.”
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News-Leader: American public isn't turning its back on schoolyard fights |
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Reprinted from the Springfield News-Leader
March 29, 2009 Sarah Steelman I have tried to be good and keep my mouth shut, but it simply is not in my nature. I can't stand to watch what is going on in Washington and not comment. What is it that the whole lot of them is thinking? I keep going back to the same thought -- and, as a mother I know that other mothers will know exactly what I am talking about: I hope my kids never behave the way Congress and the administration are behaving. They remind me of school kids on a playground when a fight breaks out, the tough guys join in, the weak guys run and hide, the wimps point their fingers at each other and say, "well, he started it" and the cowards change their stories. I know that other mothers who have broken up fights on playgrounds will agree with me. And what do we hope and pray that our own child will do if he or she is involved? We hope that he will have the courage to tell the truth and say I am sorry or he will have the courage to say why he hit the guy or that at least if he provoked the fight will take responsibility for it -- right or wrong. |
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The Wall Street Journal Terror-Free Investing |
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Printed in The Wall Street Journal By Sarah SteelmanJEFFERSON CITY, Mo. -- The idea of "shareholder democracy" is today much bruited about, but whatever connotations that term has acquired, at bottom it means investors have a "vote" -- that is, they can choose where to put their money, and where not. That kind of democracy assumes a new urgency in the post-9/11 world, as tens of billions of dollars are currently surging into countries that sponsor terrorism. According to the independent research provider Conflict Securities Advisory Group (CSAG), there are some 485 publicly traded companies doing business with four regimes designated by the State Department as sponsors of terror. The activities of these mostly foreign-owned companies -- such as Total, Sinopec and BNP Paribas -- in terrorist-sponsoring states generate billions in revenues for the governments of Iran, Sudan, North Korea and Syria. |
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The Wall Street Journal GOP Reformers Face a Tough Fight |
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The Wall Street Journal POTOMAC WATCH By KIMBERLEY A. STRASSEL July 18, 2008; Page A11 The 11th commandment of politics is that elected officials shall not take sides in their party primaries. Then again, Missouri Republicans are burdened with so many sins, what’s one more? For an insight as to why the GOP is down and out in Washington, take a look at Jefferson City. That’s where Sarah Steelman, the state treasurer, is running in an Aug. 5 primary for the Missouri governorship. And it’s where her reform campaign against earmarks and self-dealing is threatening the entrenched status quo, causing her own party to rise against her. |
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Forbes: Missouri Treasurer: Show Me You're Anti-Terror |
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By Matthew Swibel
WASHINGTON, D.C. -
Local pols love to use their control of pension and investment funds to score political points and weigh in on the big issues. Boycott this. Invest in that. Now, Missouri State Treasurer Sarah Steelman, a Republican, is using the technique to wage her own war on terror. Her crusade should prompt some nail-biting from corporate interests worried about the interference of shareholder activism in a global marketplace.
By August, a $24 million portfolio within the Missouri Investment Trust--a state fund that taxes entertainers and athletes' income and makes earnings from investment of such monies available to state cultural organizations--will adopt an anti-terrorism screen developed by Conflict Securities Advisory Group (CSAG), an investment research firm in Washington, D.C. (Read More) |
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