McDonald’s, PepsiCo urged to cease Russia operations by NY pension fund
New York State’s Common Retirement Fund, one of the largest public pension funds in the U.S., is urging McDonald’s, PepsiCo and others to consider pausing or ending business operations in Russia amid the country’s ongoing invasion of Ukraine.
The fund’s trustee, New York State Comptroller Thomas DiNapoli, warned in a series of letters that companies who continue to operate in Russia and invest in Russian assets “face significant and growing legal, compliance, operational, human rights and personnel, and reputational risks.”
Even if this little dustup doesn’t trigger WWIII it’s going to have a lasting impact on investments.
As a buy and hold investor I’m willing to ride it out, but those of you who hit the SELL! button over these things had better have already done so to avoid losses. Then again, maybe y’all can buy back in when it starts up again.
What’s that phrase? Oh yeah, catching a falling knife.
Desert (CVX, XOM, T, BNS, BKH, ED, ATGFF, NI, NWN, TRP, WRE, WGL, WTR, XEL, DUK, SO, KO & O) Dave