Contact:Tom Krattenmaker, 610-328-8534
For Immediate ReleaseMay 7, 2002
Swarthmore Presses Ahead with Lockheed Challenge Following Shareholder Vote
Buoyed by developments at Lockheed Martin's recent shareholders meeting, Swarthmore College will continue to press the company to broaden its anti-discrimination policy to include sexual orientation.
Leaders of Swarthmore's shareholder action -- the first of its type by a U.S. college since the anti-apartheid movement -- judged the April 25 Lockheed meeting a success after the College's resolution garnered more than the three percent vote needed to re-file the resolution next year. Five percent of the shareholders voted in favor of the Swarthmore resolution, with an additional three percent abstaining.
"We're encouraged that eight percent of shareholders refused to endorse the company's policy of not recognizing the rights of gay people to be protected from discrimination," said Morgan Simon, a sophomore and member of the College's Committee on Socially Responsible Investing. "Lockheed now knows that shareholders value the rights of all people and expect their company to do the same. "
Acting on the recommendations of the committee, which is made up of students as well as members of Swarthmore's administration and Investment Committee, the College filed the shareholder resolution earlier this spring. Simon and Paul Aslanian, vice president for finance, traveled to San Diego to attend the Lockheed shareholder meeting and argue for adoption of the broader anti-discrimination policy. In response to Aslanian's request, Lockheed agreed to meet with college representatives at a yet-to-be-determined time to discuss the issue.
"I am confident that we've gotten the attention of the company's leaders, which is a significant first step," Aslanian said. "The issue is really an easy one. To change the company's anti-discrimination policy makes good moral sense and good business sense."
Simon said Swarthmore will broaden its strategy as it continues to push for change at Lockheed Martin. One possibility for next year is enlisting other colleges that own Lockheed stock to co-file the resolution with Swarthmore.
"One of our goals in this first year was to see if Swarthmore could use its power as a shareholder to work for social good," said the sophomore from Los Angeles. "I think we've certainly gone a long way toward accomplishing that. And we're not finished yet."
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