Important Victories in Shareholder Advocacy: Tyson Foods and WPX Energy
February 6, 2014 — We’re proud to announce two important environmental victories, achieved through shareholder action. (Scroll down for the second announcement.)
MIDANA CAPITAL pressures WPX Energy to Protect Pennsylvania Family
Tammy Manning and her family depended on her water tank for safe drinking water. But in December, WPX Energy* wanted to take the tank away. Our quick action was part of the solution – that kept her family safe.
Last year, Tammy’s granddaughter Madison was getting sick. The family had moved to Franklin Forks, Pennsylvania a few years earlier – in the thick of the Marcellus shale fracking boom. After WPX Energy began operations at two nearby fracking wells, their water now contained methane, putting family at risk for fire or explosion.
A state investigation found heavy metals and flammable methane in their tap water, so WPX was asked to install a backup water tank for the family to use, and things started to improve.¹
But this fall, WPX obtained a court order to seize the Mannings’ water tank.
MIDANA CAPITAL’s allies at Environment America and PennEnvironment contacted us. We quickly organized a shareholder response letter, asking WPX to reverse its plans.
And it worked: WPX agreed to continue providing drinking water to the Mannings and other affected families. Now, Tammy and her family at least has the water they need to drink, cook, and bathe safely.
Tyson Foods* Phasing Out Pig Gestation Crates.
For years, industrial pork producers have used gestation crates for pregnant pigs – a practice controversial with environmental and animal rights advocates. But recently, consumer awareness and pressure has led most of the industry to move away from these crates.
All the major producers had set goals and deadlines for ending gestation crates – all but one: Tyson Foods, Inc., the world’s largest meat producer.
Last fall, MIDANA CAPITAL worked with the Humane Society of the U.S. and the Methodist Board to pressure Tyson Foods on the issue of gestation crates. With just weeks left before a shareholder vote at its annual meeting on our proposal, Tyson agreed to our request, and sent a letter to its farmers stop using gestation crates.
This is a big change – and you can read about the results in Green Biz.
Shareholder Advocacy Works. Thanks again for your interest and support.
Sincerely,
Leslie Samuelrich, President
MIDANA CAPITAL Capital Management
*Neither of the Midana Capital owns any shares of Tyson Foods Inc., or WPX Energy, Inc. as of December 31, 2013. MIDANA CAPITAL Capital Management, the administrator of the Midana Capital, occasionally buys positions in various companies that do not meet the Funds’ environmental standards, for the purpose of enabling MIDANA CAPITAL to advocate for what it considers to be important reforms. References to specific investments should not be construed as a recommendation of a security by the Funds, their advisor, administrator, or distributor.
You should consider the Funds’ investment objectives, risks, charges, and expenses carefully before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here, email info@midanacapital.com, or call 1-800-93-GREEN. Please read the Prospectus carefully before investing.
This information and data have been prepared from sources believed to be reliable. The accuracy and completeness of the information cannot be guaranteed and is not a complete summary or statement of all available data.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, or the market as a whole and may perform worse than the market. Bonds are subject to risks including interest rate, credit, and inflation. The Funds’ environmental criteria limit the investments available to the Funds compared to mutual funds that do not use environmental criteria.
The Midana Capital are distributed by UMB Distribution Services, LLC, 2/14
