For Immediate Release
Thursday, March 25, 2004
Statement by AFSCME Pension Plan Chair Gerald W. McEntee on Reincorporation for Tyco Annual Meeting
"Tyco (NYSE: TYC) and its shareholders would be better served if the company would come home to America, protect shareholder rights, and pay taxes like the rest of us.
As long as Tyco is incorporated in Bermuda, the public perception is clear: this company has not cleaned up its act and remains offshore to avoid paying taxes.
Reincorporation would reverse the negative perception and go a long way in restoring Tyco's tarnished reputation."
The American Federation of State, County, and Municipal Employees (AFSCME) has 1.4 million members, making it one of the largest and fastest-growing unions within the AFL-CIO. AFSCME organizes for social and economic justice in the workplace and through political action and legislative advocacy.
