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CCCCH
Canadian
Committee To Combat Crimes Against Humanity
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Press release
Immediate publication
Full
Emglish version
http://shareholders.1afm.com/stockbrokers.htm
To all
stockbrokers
Two environmentalist and social
protection organizations inform all stockbroker and investor counselors to
notify their clients, specially small shareholders, to provide the
necessary steps to safeguard their investments against actions that in the
future shall be taken against COSTCO, a corporation that has destroyed
world heritage in Cuernavaca, Mexico.
Montreal, Cuernavaca,
May the 12th, 2003.-
The Citizens Coalition (Frente Cívico) and CCCCH are to convoke the world
activists to organize activities condemning COSTCO and its CEO James D.
Sinegal. As these activities can cause loss of value,
as they are already doing, (*)
to COSTCOs shares, and by extension, to the investments of small
shareholders, it is our obligation, to let you know of what is
occurring.
We know that most of your clients are honest working people, probably
unaware of COSTCOs criminal behavior, and consequently we address you
primarily, so that you can inform the investors that actions are to be
taken against the company in order to have Costco corporation move their
warehouses to a location that will not affect the historic site where it
is now or the quality of life in the city of Cuernavaca.
Cuernavaca has been the victim of terrible destruction which includes
important works of art, architectural treasures, and green areas in the
city. In nearly 20 acres in the center of the city, the following has been
destroyed or affected by Costco: 1, 400 square meters of mural artwork
from the XX century , An Olmec archeológical site, one of the most
important structures created by the Félix Candela and nearly 2 million
cubic meters of an ecosystem. This in order to make way for a 1200 car
parking lot with two giant warehouses, a water treatment plant, cafeteria
and an additional street.
As irresponsible local authorities catered to the desires of the project
managers, a group of citizens were forced to create the Frente Cívico Pro
Defensa del Casino de la Selva. The coalition,
Frente Cívico, has been working for two years in order to make the public
aware of the barbaric acts commited. When trying to block the cutting down
of the ancient trees in the site, police brutality was used against it
sending university workers, parents, university professors,
environmentalist, artists and students to jail. 15000 people have
protested against the project, the attack on the citizens and the
authorities, but the protestors are still facing legal action against
them.
The construction of the stores is riddled with corruption and illegal
activites. Of the most important is the irregular sale of the land by the
federal government for one sixth the value of what it was received the
treasury secretariat. The coalition has published the documents proving
the illegality of the construction permits which of course lack an
approval of the traffic or environmental positive evaluations. Because the
company is flagrantly breaking the law while destroying cultural and
natural treasures is that a campaign has been launched for several months
now and will be maintained until the company reacts. Many investors have
already responded selling their stock as can be observed by the loss of
value in the shares with respect to the Nasdaq index since last December
(see graph) However more actions by nearly 5000 NGOs will be taken.
We know that James D. Sinegal, Jeff Brotman and Joel Benoliel, company
directors and lawyer, are responsible for the violent destructive acts in
Cuernavaca . We also believe that they, like executives of companies such
as Enron are traitors to the investors for not responding correctly to
their obligations to protect the value of their shares.
Costco recognizes it has done wrong as can be seen by their apologetic
discourse - It has even made a very futile attempt to make up for the
terrible damage by lending temporary Mexican artist exhibits offering
seedlings. They also claim that the loss of share value may come from
other sources, but as we have said before, it is up to you, shareholder
and stockbroker to take the logical and socially responsible decision in
order to safeguard your investments and those of your
clients.
Frente Cîvico pro
Defensa Casino de la Selva
Canadian Committee to Combat Crimes Against Humanity
address@hidden
(*)
COSTCO's
SHARE PRICE since Frente Cívico and
CCCCH started their joint campaign against the beast on March the 13th
2003
http://shareholders.1afm.com/price.htm
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