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Los Angeles council asks treasurer to draft Burma divestment ordinance; exempts health, media firms
Summary
The Los Angeles City Council on Oct. 3 approved a request that the city attorney draft an ordinance directing the city treasurer to divest city-owned stock in companies doing business in Burma, with exceptions for firms providing health-care or media services.
The Los Angeles City Council on Oct. 3 approved a motion asking the city attorney to draft an ordinance directing the city treasurer to divest city-owned stock in companies that do business in Burma, except firms the motion said were providing health-care or media services.
Councilwoman Jackie Goldberg introduced the measure, saying the action is a legal alternative after the U.S. Supreme Court’s decision narrowed the city’s prior purchasing ordinance. "This is the next…
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