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"An April 5 vote exceeded Quintero’s expectations. Through pressure from a coalition of grassroots organizations, the Portland City Council voted to halt all new investments in corporations—not just Wells Fargo and Caterpillar. The unanimous vote made Portland the first major U.S. city that has promised to end new investments in corporate securities—debts that are repaid to the city with interest. For now, Portland will continue investing in its current corporate securities, but will not renew them when the final one matures in 2019. Instead, Portland will invest in non-corporate options like U.S. government bonds, and is in talks of creating a municipal bank. The city’s investments total over $1.7 billion, and about one-third of that is in corporations."
Portland, Ore., Becomes First Major U.S. City to End All New Investment in Corporations by Melissa Hellmann ? YES! Magazine
An interesting move, and one that could work out in the long run. The great thing about non securities investments is guaranteed growth. If another bubble bursts, Portland won't lose 20 percent of its holdings. I like this, slow and steady for a town makes sense.
Portland, Ore., Becomes First Major U.S. City to End All New Investment in Corporations by Melissa Hellmann ? YES! Magazine
An interesting move, and one that could work out in the long run. The great thing about non securities investments is guaranteed growth. If another bubble bursts, Portland won't lose 20 percent of its holdings. I like this, slow and steady for a town makes sense.