Get Sinclair out of your 401K

Via Atrios/Media Matters, below is a list of institutional investors (mutual fund firms and some pension funds) that own a large piece of Sinclair.

Atrios suggests divesting. I'm trying something a little less disruptive - writing a letter to them asking for accountability for their investment decisions (which are pretty poor if they are investing in a propaganda operation) before I invest more. If you have any investments with these companies, even if your fund doesn't hold Sinclair, I'd recommend contacting them - its the same top management. There are some big names - Vanguard, Janus, Barclays, American Express, etc. And its only partial - check with your fund company to see if they own any piece of Sinclair.

If anyone who thinks its a good idea, feel free to adapt a draft of the letter here (probably best not to just copy-paste, but rather change it to reflect your circumstances).

My finance grades weren't so hot, so also feel free to correct any misuse of terms.

(First the letter, the list below, also available via media matters)

To Whom It May Concern:

It has recently been brought to my attention that some (Investment Company name) funds are major shareholders of the Sinclair Broadcasting Group, Inc. (SBGI). I want to express some concerns about this.

As you may be aware, Sinclair Broadcasting has mandated that its local stations pre-empt regular, revenue-driving programming in order to air a film intended to impact the results of next month's Presidential election. Although the film in question has already been released, is available on DVD and in other formats, and relates to events that happened over 30 years ago, Sinclair has declared that the film is "news" to allow them to skirt fairness regulations and broadcast what would in any reasonable person's view be seen as a partisan propaganda piece.

First, as a customer and investor, I am worried about the judgment of (Company Name)'s investment professionals. I have about ($Amount) invested in equity and bond funds with your company. For years I have been happy with your long-term, diversified approach to investing. Your large holdings of Sinclair Broadcasting give me cause to reconsider my judgment.

Second, as an American and a voter, I am troubled by Sinclair so brazenly attempting to impact the election. Certainly, any individual or group has a right to express their political views, but using a company's assets and resources to spread propaganda crosses the line. If companies like Sinclair carry the day, we can forget risk-return tradeoffs, CAPM calculations, and diversification strategy - our economy will move toward a cronyism system, driven by patronage and personal connections, not by the forces of market demand, innovation, and value-addition critical to a capitalist economy and free financial markets.

If you review my account you'll see that I make investments into your funds on a consistent basis. I will be withholding those investments pending action by your management to either gain agreement by Sinclair to discontinue their interference in the political process and focus on profits, or to terminate your investment with them. If (Company Name) doesn't take action then I will consider finding another investment management firm that takes their role as an investor more seriously.

I would like to hear a response from (Company Name) on what action you will take. I realize these things take time, but Sinclair's actions will take effect in the next couple weeks, so any prompt action and reply would be appreciated.

 Thanks you and regards,

(My Name)

________

List of Investment firms with major holdings in Sinclair:

EARNEST PARTNERS, LLC  
GABELLI ASSET MANAGEMENT CO  
WESTFIELD CAP MGMT CO, INC.  
MORGAN STANLEY INV MGMT INC.
NEUBERGER BERMAN, LLC  
COLUMBIA FUNDS (BNK OF AMR)  
PUTNAM INVESTMENT MGMT, L.L.C.  
BARCLAYS GBL INVESTORS, N.A.  
JANUS CAPITAL MANAGEMENT LLC  
VANGUARD GROUP, INC.  
INVESCO CAPITAL MGMT INC.  
J.P. MORGAN INV MGMT INC.
BLACKROCK FINL MGMT (VALUE)  
BLACKROCK FINL MGMT (GROWTH)  
LIBERTY RIDGE CAPITAL, INC.  
KIRR, MARBACH & COMPANY, LLC  
MFS INVESTMENT MANAGEMENT  
VAN KAMPEN  
DREYFUS CORPORATION  
AMERICAN EXP FIN. ADVS.  

Pension fund contact information:
COLLEGE RETIREMENT EQUITIES (TIAA-CREF)  
CALIFORNIA PUBLIC EMP' RET SYS (CALPERS)  
NEW YORK STATE COMMON RET SYS  
OHIO PUBLIC EMP RETIREMENT SYS (OPERS)  
CALIFORNIA STATE TEACH'RET SYS (CALSTRS)  
FLORIDA STATE BD ADMINISTRATION