Saturday, May 05, 2007

Norway's Socially Responsible Investments Irk U.S.

An article today in the NY Times highlights a dilemna that the Norwegian government faces. They have more money than they know what to do with due to their huge oil related profits, and they want to be socially conscious.

So, they have divested from companies like Wal-Mart due to their crappy labor practices. Our U.S. Amabassador to Norway is furious that they would do such a thing and is speaking out publically. Norway had $400,000,000 worth of Wal-Mart stock that they sold off. Our government believes they are just being big meanies by picking on such fine corporate citizens.

It's estimated that the Norwegian fund will be worth more than $180,000 for every man, woman, and child in the country within a decade. As a child of a Norwegian citizen, may I say that I am very intrigued about moving there some day. I like leffsa, will eat lutefisk if I am really drunk, and welcome my future socialist overlords.