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John Liu, NYC Comptroller, on the city’s holdings of Wal-Mart and oil companies, and his take on holding Wal-Mart directors accountable for the brib...
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President -- -- my Kansas City said the president's view that oil companies.
Have been a little slippery on this whole.
Gas issue and oil but -- the runup in prices.
To stubborn slowness in the running down prices.
Do you share that I do share those views OK and what -- -- that's a large Exxon -- shareholder why he's such as you know on and on ConocoPhillips.
I hear again when you -- all the nail these all holdings as part of index finally understand and -- if you -- -- real strong you would just say not in my and I don't let -- L Europe you're cherry picking here.
No Wal-Mart you're all very -- won't be I think you are because Wal-Mart and Chesapeake or not the only companies that we have concerns with it.
But and we have -- the results this is a very popular it's in New York melodic -- -- you're gonna run for mayor.
So be very clear you're gonna run for -- These are great populist issues of -- -- -- I'm just saying.
Are you cherry picking the causes that might help that you elect you know what.
If you wanna call going after a company who's been accused of bribery of foreign governments and then trying to cover them -- And you wanna say that very companies have been accused of worsening yeah in the American and we do not have saved one -- -- isn't worsened the other this -- and the help.
We will continue to go after companies that we owned that it's impossible for us to complete that completely divest from.
But to go after them in a -- That we think on behalf of the pension funds will enhance and increase long term shareholder you never sell that stock you just said you couldn't sell -- Beat and the -- the way to increase the sustainability of these companies is not necessarily just to divest or sell our shares.
But to use our rights and share owners and has voters at the annual meeting.
To implement some kind of long term change whether it be holding directors accountable.
-- trying to get some of our own independent directors on the board.
That's the point of these things and if you have companies that you think we should look at I'd be more than happy to my -- mentions of.
Do this president Barack Obama finally there are many New Yorkers assuming he run for mayor of new York and you have your rabid fans and you don't pull that can really -- -- On the campaign issues notwithstanding the ones that you -- just unfair and trumped up.
There are a lot of New Yorkers -- like Wal-Mart wanna -- -- here.
And they want to -- four dollar prescription drugs Wal-Mart offers are are you willing to risks.
Ticking them off.
I think New Yorkers are like most Americans -- -- low prices.
But New Yorkers also have a sense of what's right.
And when you hear these charges of of violations of trial liberal laws of of abusing or exploiting immigrant workers.
-- this case bribing upon government officials and covering it up I think those are reasons to -- -- for for consumers and the public have considered the public.
Once low prices and do but they want reputable companies to provide low prices and good services.
And product they don't want to see companies that in this relentless pursuit.
Of profits of expansions to cut corners to.
Have have you got short -- growth store in Manhattan.
-- -- like 400 dollars -- have you been to many of the stores in Brooklyn and queens where the prices -- dirt cheap.
Personally don't think -- would offer any advantage to these.
In the city like New York which is in my unbiased opinion the greatest city in the world.
We've got things that our prices at a grocery what they did patrol around -- corner we did it and I'm not kidding you know I went to get a couple of grocers there it was -- 500 dollars and it wasn't just sandwiches.
I'm -- welcome but what they are source away you could find the lowest prices anywhere in the country.
Right here in New York City well you're you're very -- -- very good -- you to come here -- love to have you back.
-- -- big issue you generated something.
The control -- thank you very very much thank you -- stick around about a lot more right after this.
