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FTSE: Remove Smithfield Foods, Inc., from FTSE4Good Index - Response to FTSE’s letter of August 22, 2007
Thank you for your letter of August 22, 2007...regarding Smithfield Foods, Inc.'s, continued inclusion on the FTSE4Good Index... We appreciate FTSE's engagement with Smithfield...and welcome Smithfield's adoption of a new human rights policy on May 7, 2007. However, we are very concerned by reports that Smithfield continues to deny its workers the right to choose freely whether to form and join a union. Those reports suggest that neither the letter nor the spirit of the company’s new human rights policy is being implemented. For these reasons, we believe FTSE4Good should remove Smithfield from its Index.