letter.
from the Guardian Blog
http://www.guardian.co.uk/media/blog/2011/jul/09/phone-hacking-newsoftheworld#block-12he Church of England has written to Rupert Murdoch to condemn the phone hacking scandal and to demand that News Corp executives clean up journalistic practices in the company.
The Church of England Commissioners for England owns £3.7m ($6m) of News Corp shares. In a letter to Murdoch, the chairman of the church's Ethical Investment Advisory Group, investment banker John Reynolds, warned insisted that the board of News Corp "takes all necessary measures to instil investor confidence in the ethical and governance standards" of the company.
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While the EIAG welcomes the decision to close the News of the World, this action is not a sufficient response to the revelations of malpractice at the paper. Nor does it address the failure of News International and News Corporation executives to undertake a proper investigation and take decisive remedial action as soon as the police uncovered illegal phone hacking in 2006.Follow up discussion on the Church's letter:
http://www.guardian.co.uk/media/blog/2011/jul/09/phone-hacking-newsoftheworld#block-16Professor Richard Burridge, deputy chairman of the church's Ethical Investment Advisory Group, said the threat of disinvestment could have an impact in spite of the relatively small amount of shares - £3.7m - it holds in News Corp.
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The Rev Canon Jonathan Alderton-Ford, a vicar in Bury St Edmunds, Suffolk, and a General Synod member, added that senior figures in the church were embarrassed by its holdings in News Corp.
I can certainly say that clergy and lay people that know about it are of a mind that we should divest ourselves of this investment or we should be pressing through our ownership for change in the leadership at News Corp.more snow is sticking to that snowball suddenly cascading down the mountain side that bridges NewsInternational to NewsCorp.