Winds of War: Companies Tainted By Terrorism

While the Security and Exchange Commission is busily removing a useful web tool on their site for investors who seek not to invest in companies that sponsor or are connected to terrorism, the blogospher itself has stepped in.

First the dhimmitude of the SEC.

The U.S. Securities and Exchange Commission on Friday suspended its online search tool to help investors identify companies active in "sponsors of terrorism" countries after lawmakers and business groups criticized the site as unfair to some companies.

SEC Chairman Christopher Cox said the agency would revamp the Web site tool so it would more accurately reflect a company's activities in the countries. The site generated "exceptional public interest" with more than 150,000 hits from June 25 to July 16, and the SEC received both positive and negative comments about it, Cox said in a statement.

Before the tool was removed from the SEC Web site, it could be used to search for companies whose annual reports contained references to business related to Sudan, Syria, North Korea, Iran and Cuba. The countries are designated as "state sponsors of terrorism" by the U.S. State Department. Several lawmakers and business groups complained about the search tool. They said the unsophisticated tool tarnished some companies' reputations because listings were compiled without regard to the content of a company's disclosure or its materiality.

In response, Foehammer is calling for the blogospher to build its own company list.

Today is finally time for me to put forth the call to the Blogosphere and request suggestions for companies that should be targets of this boycott. The criteria are simple enough. Choose from one or more of the following before submitting a suspect company to me: if you believe that you can verify that a company is exhibiting behavior that is pro-Islamist in nature or closely affiliated with a nation that is guilty of the same (i.e. Venezuela), is promoting Islamist propaganda, is owned and/or operated by Muslims (i.e. Saudis) to a degree of 10% or more, is supporting groups like CAIR, is a front for Islamic terrorist activity, et al. You get the idea.

IMPORTANT: Please provide a link to evidence of your claims and/or a very good written explanation of why you believe a certain company should be placed on the Boycott Islam list before you make your submission. Also please provide a link to a company website if at all possible. These efforts will save me much time in compiling an ongoing list.

Foehammer gives a sample list at his site. As he said, “Get to work!”

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