WASHINGTON, May 10, 2016 /PRNewswire-USNewswire/ -- The giant food and beverage company, PepsiCo — with 274, 000 employees worldwide— was faced with a fair employment Resolution (No. 7) at its Annual Shareholders Meeting in New Bern, North Carolina, on May 4 regarding its fair employment in Israel-Palestine.
The Capitol Hill-based Holy Land Principles, Inc. called on Pepsi to sign the Holy Land Principles — a corporate code of conduct for American companies doing business in Palestine-Israel, based on the very effective Mac Bride Principles for Northern Ireland.
The Holy Land Principles are pro-Jewish, pro-Palestinian and pro-company. The Principles do not call for quotas, reverse discrimination, divestment, disinvestment or boycotts. The Principles do not take any position on solutions to the Israeli-Palestinian issue. The Principles do not try to tell the Palestinians or the Israelis what to do. The Holy Land Principles only called on Pepsi to implement the Holy Land Principles. (There have been some unfortunate and irresponsible attempts to misrepresent and demonize the Principles but these attempts will not be allowed to succeed).
The Resolution received over 37 Million votes, 37,094,5581 (4%), with 72,027,260 abstentions.
At close of business on May 4th, the value of Pepsi shares was $104.02. So the value of the share votes for HLP was over $520 Million, $520,065,703.16.
The value of abstentions was $1,009,822,185.20.
Therefore, the combined total of money not supporting Pepsi was over $1.5 Billion ($1,529,887,888.36) and, therefore, a total of 109,121,818 votes not supporting Pepsi.
Fr. Sean Mc Manus— President of the Washington-based Holy Land Principles, Inc. and Irish National Caucus which also launched the Mac Bride Principles (1984) — said: " We are pleased with our first Resolution at Pepsi. We are convinced that the Holy Land Principles is an idea whose time has come. Fair employment by American companies in Israel-Palestine is the existential questions those companies can no longer avoid or evade—as they have been able to do before we launched the Holy Land Principles in 2012... For there is nothing more powerful than an idea whose time has come."
Fr. Sean Mc Manus
Holy Land Principles, Inc.
P.O. BOX 15128
Washington, DC 20003-0849
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SOURCE Holy Land Principles, Inc.