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Dirty Money: Canada Pension Plan Invests In War PDF Print E-mail
Justice News
Tuesday, 18 January 2005 11:58
Dirty Money: Canada Pension Plan Invests In War

Through the Canada Pension Plan (CPP), millions of working Canadians are now being forced to invest their retirement savings in the top four prime contractors for Star Wars "Missile Defense", namely Boeing, Lockheed Martin, Raytheon and TRW (owned by Northop Grumman).
This material is from issue #55 of Press for Conversion!, magazine of the Coalition to Oppose the Arms Trade (COAT). This 46-page issue is entitled: "Missile Defense: Trojan Horse for the Weaponization of Space."
http://coat.ncf.ca/our_magazine/links/55/55.htm

Get a copy ===>

By Richard Sanders, Editor, Press for Conversion! and coordinator, Coalition to Oppose the Arms Trade (COAT).

Through the Canada Pension Plan (CPP), millions of working Canadians are now being forced to invest their retirement savings in the top four prime contractors for Star Wars "Missile Defense", namely Boeing, Lockheed Martin, Raytheon and TRW (owned by Northop Grumman).

These four corporations are estimated to have received about 60% to 70% of all the contracts for so called "Missile Defense." All four rank within the top five U.S. weapons contractors. CPP investments in the "Big Four" were worth about $20 million dollars as of September 30, 2004 (the latest figures available from CPP Investment Board, CPPIB).

Canadians have also been forced to invest in at least five other companies known to have received major contracts for so called "Missile Defense" between 2002 and 2004. When these are added to CPP shares in the "Big Four," CPP investments in "missile defense" corporations currently totals just over $36 million. (This is, by no means, a complete listing of CPP investments in "missile defense"-linked corporations.)

CPP Investments in America's Top Ten Military Industries

The CPPIB has invested $360 million in nine of America's top ten war industries. The U.S. Department of Defense reports that these nine corporations received $80 Billion in U.S. military contracts during 2003 alone. They received about a quarter of a Trillion dollars in U.S. military contracts between 2000 and 2003.

Eighty-seven percent ($315 million) of CPP's shares in these top ten U.S. war industries are invested in one company, General Electric. In 2003, GE was America's 8th largest weapons contractor. It received almost $8 billion in U.S. military contracts between 2000 and 2003.

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For more information on the U.S. war industries in which the CPP is investing, you can refer to these other articles and tables from the current issue of COAT's Press for Conversion! magazine (#55):

The Big Four:

[The following four articles provide background information on the each of the top four "missile defense" contractors.]

Lockheed Martin


Boeing


Raytheon


TRW


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Real Rogues: The Big Four Corporate Criminals

This article summarizes many examples of criminal activity committed by each of the "Big Four" contractors for "missile defense," including: foreign corrupt practices, bribery, fraud, deception, overcharging, defective parts, labour transgressions, contract violations, spying, theft and false claims.


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Article on CPP investments in "Missile Defense" and Two Detailed Tables:


Two Detailed Tables:
(1) The Top Ten U.S. Military Contractors
This table shows the value of U.S. military contracts -- in billions of U.S. dollars -- between 2000 and 2003, the companies" rankings during each of those years and the most recent data on CPP investments in each corporation.

(2) Political Contributions and Lobbying Expenditures from America's Top Ten Military Contractors
This table shows Political Action Committee contributions by each corporation (2000, 2002, 2004), "soft money" contributions (2000, 2002) and lobbying expenditures (2000).

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Some CPP Investments in Contractors for so called "Missile Defense," 2002-2004

Boeing 10,452,000
Honeywell 4,891,000
Computer Sciences Corp. 4,816,000
Northop Grumman (TRW) 4,578,000
Raytheon 3,995,000
Lockheed Martin 3,311,000
General Dynamics 3,330,000
Qwest 554,000
Harris Corp. 236,000
Total 36,163,000

Sources: This data was compiled by cross-referencing data from:
(1) Canada Pension Plan Investment Board, Public Equity in Non-Canadian Companies Holdings (Sept. 30, 2004):
and

(2) News items and contract awards listed in "Star Wars Contracts," 2002-2004, from Global Network Against Weapons and Nuclear Power in Space:



Canada Pension Plan Investments in theTop Ten U.S. Weapons Manufacturers

Top Ten Prime Contractors CPP Investments
(2003) (Sept. 30, 2004)
(1) Lockheed Martin 3,311,000
(2) Boeing 10,452,000
(3) Northrop Grumman 4,578,000
(4) General Dynamics 3,330,000
(5) Raytheon 3,995,000
(6) United Technologies 8,254,000
(7) Halliburton 7,068,000
(8) General Electric 315,386,000
(9) Science Applications
International Corp. --
(10) Computer Sciences 4,816,000

Total $361,190,000

Sources:

(1) Rankings of Top Ten Prime Military Contractors for 2003 (i.e., most recent data available):
Department of Defense, Washington Headquarters Services, Directorate for Information, Operations and Reports:


(2) CPP Investment Board, Public Equity in Non-Canadian Companies Holdings, Sept. 30, 2004. (i.e., most recent data available):


All of the above data was published in issue #55 of Press for Conversion!, magazine of the Coalition to Oppose the Arms Trade (COAT). This 46-page magazine, entitled: "Missile Defense: Trojan Horse for the Weaponization of Space," is now available:


More information on CPP investments in Canada's war industries:

The October 2003, issue of Press for Conversion! (#52) called "Operation Embedded Complicity: Canada, Playing our Part in the Business of War" reveals the extent to which Canada is deeply embedded in the U.S. "war machine." The Canada Pension Plan invests in America's biggest war industries, including the prime U.S. contractors for major weapons and their "delivery systems" used in the latest Iraq war. This issue lists one hundred Canadian companies that have provided parts and services for 36 major weapons delivery systems used in Iraq. The magazine also provides details on billions of dollars worth of Canadian government's donations to Canadian military industries. At the same time, Canadian military industries have donated millions to the Liberal and Conservative parties.

Copies of this issue and other back issues, are still available here:


From: Richard Sanders < This e-mail address is being protected from spambots. You need JavaScript enabled to view it >

Last Updated on Tuesday, 18 January 2005 11:58
 

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