June 10, 2010, Trenton — Assemblyman Jon Bramnick (R-Essex, Morris) and Assemblywoman Linda Stender (D-Union) facilitated a bipartisan press conference Thursday, June 10, 2010, at the State house to report on the State’s latest efforts to divest from foreign companies that do business with Iran.

The press conference was co-sponsored by the New Jersey Stop Iran Campaign. “President Ahmadinejad and his insatiable quest to obtain nuclear weapons poses a dire threat to the United States, Israel, and the world,” said Bramnick. “While it isn’t possible to dialogue with a terrorist, economic sanctions do speak volumes. States and local governments throughout the nation must continue to deliver the message that Americans stand united in their opposition to a nuclear armed Iran.” The press conference coincided with the anniversary of last year’s Iranian election protests and hours after the passage of U.N. Security Council approval of strengthened Sanctions focused on Iran’s energy sector. The speakers released an updated list of companies that engage in business with Iran and are not eligible for pension fund investment. The State was required to divest from companies doing business with Iran after the passage of A-3043 in 2007, which was sponsored in the Assembly by Assemblywoman Stender and Assemblyman Bramnick and in the Senate by Senator Singer and Senator Vitale.

“We’ve made great progress and sent a clear message that New Jersey will never play any role in supporting Iran’s aggressive actions that threaten peace-loving nations…We must always remain watchful for additional companies that develop ties to Iran and help promote and finance their dangerous agenda.”

Since March 2008, New Jersey’s pension and annuity funds have divested themselves of 14.5 million shares (worth $489.1) of companies that are doing business with Iran. As of January this year, it still had $11.2 million or nearly 375,000 shares invested in two companies tied to Iran. According to the legislation, A-3043, the State has until January 2011 to divest all funding from companies active in Iran.

A number of legislatures participated in the briefing, including Senator Bob Singer (R-Union), Senator Kip Bateman (R-Somerset), Senator John Goodwin (R-Mercer), Senator Bob Gordon (D-38), and Assemblyman Senator Gordon Johnson (D-Middlesex).

The NJ Stop Iran Now Campaign was represented by David Lentz, Chair, Community Relations Committee of United Jewish Communities of MetroWest NJ, who extended his deepest appreciation to the Legislature for their leadership.

“New Jersey was one of the first states to pass Iranian divestment legislation. We thank you for your vision and your willingness to exercise leadership on this important issue, and commend the successful efforts of the State Division of Investments in the Department of Treasury.”

Danielle Flaum, the No Nukes for Iran Teen advocacy representative, called on New Jersey to be an example for other states to divest from companies doing business from Iran. “Today, take a stand, make this issue a priority so that you can tell our fellow citizens of NJ, your children, and grandchildren – that you helped to make the world a safer place for us today and for future generations.”

The Campaign urges the following action steps:

• Call on counties and municipalities of New Jersey, public and private employee unions, and businesses in the state to withhold their support for and investment in companies that do business with the entities and subsidiaries of the Iranian government.
  
  
• Call on other government bodies, universities, and non-profits at the State and local levels and throughout the United States to divest their pension funds from companies doing business with Iran’s oil and energy sectors.
  
  
• Support publicly the people of Iran who continue to be at risk whenever they attempt to exercise their free will or speak out against injustices by their government.

The Campaign is made up of diverse faith organizations, universities, and non-profits in New Jersey.

United Jewish Communities of MetroWest NJ raises funds through its United Jewish Appeal campaign, provides resources and coordinates programs and services for the Jewish community in Essex, Morris, and Sussex counties, as well as part of Union county. As the key Jewish philanthropic organization, the federation and its 18 local beneficiary agencies strive to fulfill the communal and social service needs of the MetroWest community. It also works to maintain the integrity and dignity of Jewish life through its national and international fundraising efforts.