English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

“Redskins” threat to FedEx

BETHESDA, MD: Investors have asked FedEx Corp. to respond to the reputational damage and business risk associated with its continued support of the Washington D.C.-based NFL Redskins football team. FedEx has the brand rights to the team's "FedExField" stadium in Maryland until 2026.

On June 18, the U.S. Patent and Trademark Office cancelled the team's trademark calling it "disparaging to Native Americans".

fedexfieldThe shareholder proposal has been filed on behalf of the Oneida Tribe of Indians of Wisconsin, Mercy Investment Services and Calvert Investments with support from Boston Common Asset Management, Walden Asset Management and Trillium Asset Management.

"As times change, so must our language. Given the historic and present connotations of the name, turning real people into caricatures and mascots or insulting a portion of our population with an offensive name is no longer acceptable in this day and age," said Reed Montague, sustainability analyst at Calvert Investments. Founded in 1976, the company has more than US$13 billion in assets under management.

"As investors, we believe that the FedEx board and management must address the reputational risks linked to its sponsorship of the Washington NFL team franchise said Jonas Kron, senior vice president, director of shareholder advocacy at Trillium Asset Management. "Each time a game is broadcast or the team name mentioned, the company is perceived as supporting disparaging and racist language," he added. Trillium manages US$1.5 billion of sustainable business assets.

Last month 50 U.S. Senators sent letters to NFL commissioner Roger Goodell urging him to push for a name change as "the NFL can no longer ignore this and perpetuate the use of this name as anything but what it is: a racial slur".

But despite a growing chorus of opposition that also includes Barack Obama, 200 civil rights organisations and national sports columnists, FedEx has responded to the investor proposal by asking the U.S. Securities and Exchange Commission for permission to exclude their shareholder proposal from its 2014 proxy statement.

The company says discussing support for the "Redskins" brand is not a significant issue for investors to consider at the company's annual meeting in September this year.

News

Written on 15/02/2018, 17:39
first-uae-built-satellite-nears-launch-dateDUBAI: February 15, 2018. The first satellite developed and built at the Mohammed Bin Rashid Space Centre (MBRSC) by Emirati engineers has been flown to...
Written on 14/02/2018, 22:30
saudi-arabia-and-uae-provide-mobile-lift-for-yemen-aid-programSANA'A, Yemen. February 12, 2018. Prior to disbursing US$1.0 billion in humanitarian aid to Yemen next month, Saudi Arabia and the UAE recently arranged...
Written on 14/02/2018, 16:09
master-showjumpers-travel-in-styleHONG KONG: February 14, 2018. The latest Longines Masters equestrian event ended last weekend with a Grand Prix win by France's Patrice Delaveau on his...
Written on 12/02/2018, 18:37
humanitarian-logistics-databank-launchedDUBAI: February 11, 2018. The Humanitarian Logistics Databank, an information-sharing platform for aid agencies, has been launched by Princess Haya bint...
Written on 10/02/2018, 23:29
gac-to-manage-yamal-lng-icebreaker-fleetSABETTA PORT, Russia. February 09, 2018. The Yamal LNG gas project has appointed GAC Russia to manage its fleet of icebreaker tankers at Sabetta for the...
Written on 09/02/2018, 18:26
drones-about-to-take-off-in-singaporeSINGAPORE: February 07, 2018. Airbus has partnered with the Civil Aviation Authority of Singapore and Singapore Post to test its Skyways package delivery...
Written on 06/02/2018, 15:55
singapore-tops-new-belt-road-indexSINGAPORE: February 05, 2018. According to an index of real estate prospects in 67 countries along China's Belt & Road Initiative (BRI), Singapore,...
Written on 04/02/2018, 21:56
record-profit-for-amazon-undermines-the-need-for-tax-breaksWASHINGTON, DC: February 01, 2018. A report from the U.S. Economic Policy Institute (EPI) concludes Amazon fulfillment centers do not boost overall...
Written on 04/02/2018, 21:27
tiaca-adopts-new-vision-with-makeoverMIAMI: January 31, 2018. The International Air Cargo Association has announced a new vision that includes more training and consultancy projects to ensure...
Written on 04/02/2018, 20:26
cartel-members-fined-169-millionLUXEMBOURG: February 01, 2018. The Court of Justice of the European Union has upheld €169 million in fines originally imposed by the European Commission...
Written on 01/02/2018, 20:16
iata-confirms-a-record-year-for-air-cargoGENEVA: January 29, 2018. IATA reports a 9.0 percent year-on-year increase in freight tonne-kilometers (FTKs) in 2017, noting it was the strongest...
Written on 28/01/2018, 18:01
us-4-5-trillion-circular-economy-goes-mainstreamDAVOS, Switzerland: January 24, 2018. BMW has joined 29 major corporations with collective annual revenues of US$1.3 trillion in supporting a circular...
Written on 27/01/2018, 01:21
low-marks-for-russian-corporate-transparencyMOSCOW: January 25, 2018. Transparency International (TI) Russia has published a first-ever study on the financial transparency of 200 Russian companies...
Written on 27/01/2018, 00:09
boeing-loses-bombardier-anti-dumping-caseWASHINGTON, DC: January 26, 2018. In a blow to the Trump administration and Boeing, the U.S. International Trade Commission (ITC) has ruled unanimously...
Written on 26/01/2018, 21:28
ndia-s-gst-expected-to-reduce-tax-ratesKUWAIT CITY: January 25, 2018. According to the latest survey of global logistics executives by Agility, India's GDP is accelerating again after early...
Written on 23/01/2018, 20:30
logistics-industry-optimism-for-emerging-marketsBAAR, Switzerland: January 22, 2018. Emerging markets have ignored growing populism in the U.S. and parts of Europe to "look brighter than they have in...
Written on 22/01/2018, 18:23
u-s-imposes-mandatory-air-cargo-screeningWASHINGTON, DC: January 22, 2018. The U.S. Transportation Security Administration (TSA) has issued an emergency order requiring airlines flying to the...
Written on 18/01/2018, 20:29
extreme-weather-is-world-s-greatest-economic-risk LONDON: January 17, 2018. The latest Global Risks Report from the World Economic Forum (WEF) says extreme weather events are seen as the greatest...
Written on 18/01/2018, 15:17
amazon-shortlists-20-u-s-cities-for-second-headquartersSEATTLE: January 18, 2018. Amazon has chosen 19 U.S. cities plus Toronto, Canada from 238 locations across the U.S., Canada, and Mexico as possible sites...
Written on 17/01/2018, 21:42
seat-builds-spain-s-tallest-logistics-warehouseBARCELONA: January 15, 2018. Car manufacturer SEAT (Sociedad Española de Automóviles de Turismo) is constructing a new automated logistics center to store...

- powered by Quickchilli.com -