Story Created:
Mar 3, 2008 at 3:20 PM AKDT
Story Updated:
Mar 3, 2008 at 3:20 PM AKDT
North Pole Republican John Coghill says he cannot support a proposal to dump state ownership of stocks of companies that do business in Sudan. Coghill is the chairman of the House Rules Committee, and says portfolio management is best left to professionals, not politicians.
Coghill says that he is sympathetic with what is happening in the country's Darfur region, but he says the state also could be reviewing investments in tobacco companies, oil companies or other types of businesses that are out of favor with people.
House Bill 287 aims at forcing managers of the Alaska Permanent Fund and state retirement funds to dump stocks of companies doing business in Sudan. The Sudanese government has been blamed for genocidal killings in Darfur.
Thus far 41 states have adopted or are considering policies that would have them divest state assets from Sudan.
The Legislature should pass the measure, says House Minority Leader Beth Kerttula. The bill, says the Juneau Democrat, addresses an issue that transcends sound investing and that Alaskans do not believe in genocide or apartheid.
Sponsors of the measure include, Anchorage Democrat Les Gara and Anchorage Republican Bob Lynn. Gara says his bill is not the stat of more investment mandates and that he is drawing the line at genocide.
