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Personal Finance and Investing - MSN Money
Description
Wal-Mart Stores (WMT, news, msgs) took another public relations hit last week when that country's government pension fund -- with more than $240 billion in assets -- banned the retailer's stock from its portfolio, citing "serious" violations of human rights and poor labor practices.
Now, Norway isn't just picking on Wal-Mart. The fund's ethics guidelines exclude investments in companies involved in human rights violations such as "murder, torture, deprivation of liberty, forced labor, the worst forms of child labor and other forms of child exploitation."
But the fund's action raises a question: Is the Wal-Mart portfolio poison? Will it turn into a name shunned by fund managers concerned about political correctness and potential legal liabilities stemming from lawsuits about labor practices?
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