Investor Open Letter

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In July 2012, a group of investors organized by Walden Asset Management and several other concerned investors sent an open letter to the following companies that are members of the American Legislative Exchange Council (ALEC) and/or the Heartland Institute:

For Membership in ALEC and Heartland:

  • Altria Group, Inc.
  • Anheuser-Busch InBev
  • AT&T Inc.
  • Comcast Corporation
  • Pfizer
  • Reynolds American Inc.
  • Time Warner Cable

For Membership in ALEC:

  • Allergan
  • American Electric Power Company, Inc.
  • Amerigroup
  • Amgen - Responded on August 3, 2012 that it would not renew its membership in ALEC. See the letter to Amgen here. See Amgen's response here. For more, see PRWatch here.
  • AOL Inc.
  • AstraZeneca Inc.
  • Bank of America Corporation
  • Bayer Corporation
  • Chevron
  • Coventry Health Care Inc.
  • Crown Holdings, Inc. (Crown Cork & Seal)
  • Diageo plc
  • Duke Energy Corporation
  • eBay Inc.
  • Eli Lilly & Company

  • Entergy - Responded on August 13, 2012 that neither it nor any of its subsidiaries is currently a member of ALEC, nor has it funded ALEC since 2011. See the letter to Entergy here. See Entergy's reponse here. For more, see PRWatch here.
  • Express Scripts
  • Exxon Mobil Corporation
  • FedEx Corporation
  • General Electric Company
  • General Motors Company**
  • GlaxoSmithKline
  • Honeywell International
  • International Paper
  • LKQ Corporation
  • Marathon Oil Corporation
  • Merck & Company, Inc.
  • Norfolk Southern Corporation
  • Novartis Corporation
  • Peabody Energy Corporation
  • CenturyLink, Inc. (Qwest Communications)
  • Royal Dutch Shell (Shell Oil Company)
  • Symantec Corporation
  • T-Mobile
  • United Parcel Service
  • UnitedHealth Group
  • Verizon
  • Visa Inc.
  • Walgreen Co.**
  • Yahoo! Inc.

For Membership in Heartland:

  • Marathon Petroleum Corporation
  • Nucor Corporation
    • Both GM and Walgreens announced on July 26, 2012, that they are discontinuing their ALEC memberships.

The investor open letter is available here. A sample letter is available here.