Unocal Rejects Myanmar Protest.Shareholders of Unocal Corp. rejected two resolutions that would have pressured the oil exploration company to abandon its natural gas venture in Myanmar Myanmar (myän`mär, mēän'mär`) or Burma (bûr`mə), officially Union of Myanmar, republic (2005 est. pop. 42,909,000), 261,789 sq mi (678,033 sq km), SE Asia. , whose government has faced international criticism for human rights abuses. At Unocal's annual shareholder meeting last week, a resolution that would have required the company to adopt a code of conduct discouraging dis·cour·age tr.v. dis·cour·aged, dis·cour·ag·ing, dis·cour·ag·es 1. To deprive of confidence, hope, or spirit. 2. To hamper by discouraging; deter. 3. business involvement in countries that used forced labor received about 22 percent of the vote. The second resolution, which would have tied executive compensation to the company's ethical and social performance, did even worse and received just 15.4 percent of the vote. The board of El Segundo-based Unocal had said the resolutions, were unnecessary because similar policies already were in place. But the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System, which holds 1.5 million Unocal shares voted in favor of upon the side of; favorable to; for the advantage of. See also: favor both ordinances. A few dozen protesters demonstrated outside the meeting, charging that the Myanmar military used forced labor in constructing a pipeline that connects the gas field to Thailand Thailand (tī`lănd, –lənd), Thai Prathet Thai [land of the free], officially Kingdom of Thailand, constitutional monarchy (2005 est. pop. 65,444,000), 198,455 sq mi (514,000 sq km), Southeast Asia. . |
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