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New York Post
13-07-2025
- Business
- New York Post
Brad Lander aids boycott movement against Israel with 'withdrawal' of bonds: Adams' camp
City Comptroller and Zohran Mamdani crony Brad Lander has aided boycott efforts against Israel by withdrawing union pension funds from bonds issued by the Jewish state, Mayor Eric Adams' top deputy claims. 'I write on behalf of the Adams Administration to request a review of the decision-making process surrounding the effective withdrawal of New York City pensions funds from investment in State of Israel Bonds,' First Deputy Mayor Randy Mastro said in a July 10 letter to Lander and obtained by The Post. 'This divestment, occurring amid a global Boycott, Divestment, and Sanctions (BDS) campaign against Israel, appears to be in furtherance of that BDS campaign, regardless of the adverse financial consequences for city pensioners,' Mastro wrote to Lander, who is in charge of overseeing the city's finances, including its pension investments. 4 The Adams administration is accusing city Comptroller of supporting a the Boycott, Divestment, and Sanctions movement against Israel by withdrawing union funds from bonds issued by the Jewish state. AP Photo/Olga Fedorova 'Your public characterization of this shift as a mere 'decision not to reinvest' does not insulate it from scrutiny.' The Big Apple first invested $30 million in State of Israel Bonds in 1974 under former city Comptroller Harrison Goldin through its pension funds for educators. Over the years, successive city Comptrollers Elizabeth Holtzman, Alan Hevesi, Bill Thompson, John Liu and Scott Stringer have all reinvested the bonds as they matured. But now only the city Police Pension Fund has a little more than $1 million invested in Israel Bonds. By comparison, the New York state pension system, run by state Comptroller Tom DiNapoli, has more than $360 million invested in the Jewish state. 'We request a review because the public record is incomplete as to the basis for and impact of your decision to withdrawal [of] investment in Israel Bonds,' Mastro said in his letter. 'It appears, based on available information, that the city's pension systems had held tens of millions of dollars in State of Israel Bonds across multiple decades, with a record of strong returns and minimal risk. 4 First Deputy Mayor Randy Mastro wrote a letter to Lander demanding a review of the decision to withdraw city pension funds from investing in Israeli bonds. Andrew Schwartz / 'Under your tenure, those holdings have declined sharply, from tens of millions of dollars across multiple pension funds, to now less than $1.2 million held only by the Police Pension Fund,' Mastro said. 'This reduction appears to be the result of a sustained and coordinated decision on your part not to reinvest in State of Israel Bonds upon maturity. Moreover, this decision has adversely affected the performance of the pension funds' bond portfolios because State of Israel bonds have outperformed other bonds in which the pension funds are invested,' the Adams' deputy said in the letter. Israel bonds are considered a solid investment, accumulating about 5% returns on average a year, records show. 4 Lander at the New York City Pride Parade with Democratic mayoral candidate Zohran Mamdani — a supporter of the BDS movement. hoto byIt's unclear how much the workers' pension funds may have lost by the city comptroller's move. Lander and Israel-bashing socialist buddy Mamdani cross-endorsed each other in the city's Democratic primary in June — a move that is credited with helping propel the far-left Mamdani well in front of the pack to clinch the party's nomination. 'You have publicly stated that your decision was based on limiting investment in foreign sovereign debt, not to divest Israel Bonds,' Mastro said in his letter to Lander. 'But it appears that the only sovereign bonds in which the city has invested are Israel Bonds, so this policy appears to target only Israel Bonds. 'You have a fiduciary duty to the city's pensioners that is now called into question by your decision in this regard.' The comptroller's office oversees the city's five pension systems: the Teachers' Retirement System of the City of New York; the New York City Employees' Retirement System; the New York City Police Pension Fund; the New York City Fire Pension Fund; and the Board of Education Retirement System of the City of New York. The mayor also has a representative on each of the pension boards along with the comptroller and union reps. Mastro requested that Lander's office provide copies of all documents and communications relating to the decision whether to purchase Israel Bonds after the existing one mature. Those communications would include discussions with outside parties, the Adams aide said. He requested a response by July 17. 4 Mamdani and Lander cross-endorsed each other during the Democratic mayoral primary campaign. AP Photo/Heather Khalifa Adams, a Democrat, is running for re-election as an independent and is seeking support from Jewish constituents. He faces off against Democratic nominee Zohran Mamdani, Republican nominee Curtis Sliwa, ex-Gov. Andrew Cuomo and lawyer Jim Walden, the latter two who are also both running on independent ballot lines. Mamdani is an outspoken supporter of the BDS movement against Israel. Lander's office had no comment to The Post, but he was forced to address the issue during his unsuccessful Democratic primary campaign for mayor. The comptroller, who is Jewish, said he opposes the BDS movement against Israel. 'Lander has never divested,' a rep for the comptroller said in March. 'It's a policy of his office to never invest in foreign sovereign debt, but we have more than $400 million in investments in Israeli companies.'
Newsweek
23-06-2025
- Business
- Newsweek
Nationwide McDonald's Boycott This Week: Latest Update From Organizer
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The organization behind a nationwide boycott of McDonald's that is set to start on Tuesday said the movement is "about more than burgers and fries." As part of its ongoing "Economic Blackout Tour," The People's Union USA, the movement behind recent boycotts of Target and Walmart, is urging Americans to refrain from eating at the fast-food chain between June 24 and June 30. "This is about power," the organization said in a post shared by its founder John Schwarz on Instagram on Saturday. "When we unite and hit corporations in their wallets, they listen." Newsweek has reached out to McDonald's via email for comment. Why It Matters The first half of 2025 has been marked by boycotts of several household-name companies, sparked by certain corporations rolling back diversity, equity and inclusion (DEI) initiatives, as well as wider pushback against practices such as tax avoidance and underpaying workers. Since late 2023, McDonald's has also been battling a boycott led by the pro-Palestinian Boycott, Divestment, Sanctions (BDS) movement for alleged complicity with the actions of the Israeli military in the Gaza Strip. What To Know The People's Union USA describes itself on its website as "a grassroots movement focused on economic resistance, corporate accountability, and real justice for the working class." Since February, the group has orchestrated boycotts of Amazon, Walmart and Target, as well as periodic "economic blackouts," during which it says Americans should "avoid shopping, streaming, online orders, fast food, and everything in between," and rely exclusively on small, local businesses. The movement said it is demanding "fair taxes, an end to price gouging, real equality, and corporate accountability" through its upcoming boycott of McDonald's. Last week, The People's Union USA accused McDonald's in an Instagram post of engaging in "performative DEI with no meaningful change." The movement also alleged that the company pays its workers low wages and suppresses workers' rights and union efforts. An exterior view of the McDonald's restaurant at the Lycoming Mall. An exterior view of the McDonald's restaurant at the Lycoming Mall. Alamy Live News via AP What People Are Saying The People's Union USA in an Instagram post shared by founder John Schwarz: "This is a show of strength, solidarity, and people powered change. Let them feel it. Let them hear us. Let this be just the beginning." Chris Kempczinski, chairman and CEO of McDonald's Corporation, in a January 2024 LinkedIn post: "I also recognize that several markets in the Middle East and some outside the region are experiencing a meaningful business impact due to the war and associated misinformation that is affecting brands like McDonald's. This is disheartening and ill-founded." Genna Gent, vice president of government relations for McDonald's, in a 2019 letter to the National Restaurant Association and obtained by Politico: "Going forward, McDonald's Corporation will not use our resources, including lobbyists or staff, to oppose minimum wage increases at the federal, state or local levels. Nor will we participate in the association advocacy efforts designed expressly to defeat wage increases." What Happens Next? The People's Union USA said it is planning an economic blackout for July 4, along with boycotts of Starbucks, Amazon and Home Depot throughout the month. During the month of August, the movement is planning boycotts of Walmart, McDonald's and Lowe's. Do you have a story that Newsweek should be covering? Do you have any questions about this story? Contact LiveNews@
Hindustan Times
21-06-2025
- Business
- Hindustan Times
McDonald's to face nationwide boycott in US from June 24 to 30: Here's what to know
McDonald's is expected to be one of the several companies boycotted this year by The People's Union USA, calling for 'economic resistance' as a way to hold corporations accountable and achieve 'real justice for the working class.' McDonald's has also been fighting a boycott since late 2023, spearheaded by the Boycott, Divestment, Sanctions (BDS) movement, which supports Palestine, for allegedly being involved in the Israeli military's operations in the Gaza Strip.(Representative Image/AFP) During its current 'Economic Blackout Tour,' the organising group behind Target and Walmart boycotts, The People's Union USA, is asking Americans to avoid buying at the restaurant chain from June 24 to June 30. A number of well-known firms have been boycotted in the first half of 2025, which was prompted by certain companies reversing their diversity, equality, and inclusion efforts. There has been a broader backlash against activities including tax evasion and labor underpayment. McDonald's facing boycott from BDS McDonald's has also been fighting a boycott since late 2023, spearheaded by the Boycott, Divestment, Sanctions (BDS) movement, which supports Palestine, for allegedly being involved in the Israeli military's operations in the Gaza Strip. Also Read: Prince William turns 43: Kate Middleton, kids celebrate his birthday with new puppies and heartfelt message Know about People's Union USA's McDonald's boycott On its website, The People's Union USA describes itself as 'a grassroots movement focused on economic resistance, corporate accountability, and real justice for the working class.' The organization is spearheading the boycotts. The group has been organizing boycotts of Amazon, Walmart, and Target since February. It has also hosted frequent 'economic blackouts,' during which it advises people to 'avoid shopping, streaming, online orders, fast food, and everything in between,' and to only do business with small, local companies. The efforts against Walmart, Amazon, and Target have garnered more attention than the McDonald's boycott. The People's Union USA's founder, John Schwarz claimed that a 'permanent boycott' of these companies would allow them to experience 'the full power of the people.' The People's Union USA posted a list of their main issues against each targeted corporation on its website earlier this year. The majority of the grievances were on general monopolistic behavior, labor conditions, and tax dodging. McDonald's was included for 'tax avoidance and known lobbying against wage increases,' which have led to serious backlash of the firm in recent years. In addition to an Independence Day boycott, the People's Union USA intends to launch a month-long boycott of Home Depot, Amazon, and Starbucks. in July A boycott of McDonald's, Walmart, and Lowe's is scheduled for August, according to Schwarz.
Newsweek
20-06-2025
- Business
- Newsweek
Nationwide McDonald's Boycott Planned for June 24: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. McDonald's is set to join the growing list of companies subject to boycotts this year, led by a group advocating for "economic resistance" as a means toward corporate accountability and "real justice for the working class." As part of its ongoing "Economic Blackout Tour," The People's Union USA, the movement behind boycotts of Target and Walmart, is urging Americans to refrain from shopping at the restaurant chain between June 24 and 30. Newsweek has reached out to McDonald's and The People's Union USA's founder, John Schwarz, via email for comment. Why It Matters The first half of 2025 has been marked by boycotts of several household-name companies, sparked by certain corporations rolling back diversity, equity and inclusion initiatives, as well as wider pushback against practices such as tax avoidance and underpaying workers. Since late 2023, McDonald's has also been battling a boycott led by the pro-Palestinian Boycott, Divestment, Sanctions (BDS) movement for alleged complicity with the actions of the Israeli military in the Gaza Strip. A sign towers over a McDonald's restaurant on May 13, 2025, in Chicago. A sign towers over a McDonald's restaurant on May 13, 2025, in To Know The boycotts are being led by The People's Union USA, described on its website as "a grassroots movement focused on economic resistance, corporate accountability, and real justice for the working class." Since February, the group has orchestrated boycotts of Amazon, Walmart and Target, as well as periodic "economic blackouts," during which it says Americans should "avoid shopping, streaming, online orders, fast food, and everything in between," and rely exclusively on small, local businesses. The McDonald's boycott has received less attention than the campaigns against Walmart, Amazon and Target, the latter of which Schwarz said should be subject to a "permanent boycott" in order to feel "the full power of the people." Earlier this year, The People's Union USA published a list of core grievances with each targeted company to its website, largely centered around tax avoidance, conditions of workers and general monopolistic practices. McDonald's was included in the list for "tax avoidance and known lobbying against wage increases," issues that have in recent years resulted in significant criticism of the company, as well as legal consequences. What People Are Saying John Schwarz, founder of The People's Union USA, in a video posted to Instagram in late May: "Economic resistance is working. Target, Walmart and Amazon are all feeling it, talking about it. They are talking about the boycotts. They are talking about The People's Union USA. My friends, we are fighting for these corporations to finally pay their fair share of federal income taxes to alleviate that from the American worker. We are also fighting for these companies to hold manufacturers and themselves to a reasonable profit margin cap and equality across the board." Genna Gent, vice president of government relations for McDonald's, in a 2019 letter to the National Restaurant Association and obtained by Politico: "Going forward, McDonald's Corporation will not use our resources, including lobbyists or staff, to oppose minimum wage increases at the federal, state or local levels. Nor will we participate in the association advocacy efforts designed expressly to defeat wage increases." What Happens Next The People's Union USA plans to organize an Independence Day boycott, along with a month-long boycott of Starbucks, Amazon and Home Depot in July. Schwarz has also announced that McDonald's, Walmart and Lowe's will be subject of a boycott in August.
Yahoo
12-06-2025
- Politics
- Yahoo
Zohran Mamdani brings the Bernie Sanders method to New York
NEW YORK — 'It's easy to forget now,' said Zohran Mamdani, 'but four years ago, Eric Adams was hailed as the new face of Democratic Party politics.' Mamdani, a 33-year old state assemblyman and member of Democratic Socialists of America, had just launched a canvass in Harlem with 100 of his campaign's 29,000 volunteers. He was waiting out a summer rainstorm in a coffee shop, laying out his strategy for the June 24 Democratic mayoral primary — briefly interrupted by three young women who saw him, gasped, and called him 'the mayor.' The candidate finished his point: Adams, who quit an unwinnable primary to seek election as an independent, had 'pitted different sets of New Yorkers against each other, so as to evade any actual institutional response' to the city's problems. A new mayor could confront the Trump administration, which Adams decided not to do. He could also prove that progressives, if given the keys to a city, could make life cheaper and safer. To get there, and past former Gov. Andrew Cuomo, he's proposed $10 million in upper-income and corporate tax hikes, for which he'd need improbable sign-off from the state. Four years ago, Democrats saw their future in a tough-talking Black ex-cop who seemed to synthesize calls for racial justice and safer streets. Now, even as its Washington wing frets about finding moderate candidates to remake the party's damaged, elitist image, the biggest city in the country is considering a move in the opposite direction. That would be toward the Bernie Sanders model: A proud socialist and critic of modern Israel who promises huge new taxes and an expansion of city government. 'We've allowed this language of tackling fraud and waste, and prioritizing efficiency, to become the language of the right, when in fact it should be the language of the left,' said Mamdani. 'If you are passionate about public goods and about public service, you have to be just as passionate about public excellence.' Thirteen days out from the primary, the race for Adams's job has evolved into a competition between Mamdani and former Gov. Andrew Cuomo, with seven candidates trailing behind. Five are trying to notch enough ranked-choice votes to win the final count; state senator Jessica Ramos and businessman Whitney Tilson are largely running to stop Mamdani. None had built campaigns quite as ready for this moment, as Democratic anger at the Trump presidency boils over. Mamdani did not join other Democrats in renouncing the 'defund the police' movement. He defended his support for the Boycott, Divestment, and Sanctions (BDS) campaign against Israel, and his opposition to a 'Jewish state' of Israel instead of one that defended 'equal rights' unlinked from religion. Those had been candidate-killing issues in other campaigns. But New York Democrats will vote while the Trump administration is ramping up immigration raids and enforcement in major cities; when Israel's 20-month war in Gaza has infuriated younger voters; and when the cost of housing and groceries has become a bigger issue than crime. In polling conducted by Data for Progress, which found Mamdani only narrowly behind Cuomo in the ranked-choice vote, 28% of voters ranked 'housing' as their top issue, 20% ranked other economic issues, and 18% ranked 'crime and public safety.' Support for Israel didn't rank. 'Trump has shown us that on one side of politics, there's a limitless imagination, and on the other, we are constantly constructing an ever-lowering ceiling,' Mamdani told Semafor. He has promised to freeze rent, make city buses fare-free, open city-run discount groceries, and raise taxes on the richest New Yorkers and businesses to pay for this. Those promises sounded more credible, he said, after Democrats watched the new president demand deeper tax cuts at the same time he wanted to buy Greenland. 'I'm talking about less money than Andrew Cuomo gave to Elon Musk as a corporate tax break.' Mamdani entered the race in October, when conventional wisdom said that a more experienced, less progressive candidate could unseat the scandal-plagued Adams. City Comptroller Brad Lander positioned himself early as that candidate, joining the campaign before Mamdani; Adrienne Adams, the (unrelated) city council speaker, jumped in three months ago, after Adams' deal with the Trump DOJ effectively ended his campaign as a Democrat. Cuomo entered the race weeks later, and neither Lander nor Adams has been able so far to dislodge Mamdani as the ex-governor's biggest threat. The ranked-choice voting system complicates any other candidate's strategy. Voters up to five candidates on their ballots, and tabulators count their preferences until one candidate gets a majority. In 2021, the first year under the new system, city sanitation commissioner Kathryn Garcia was the first choice of only 20% of primary voters, but nearly won the primary, because so many Democrats marked her as an alternative, lower on their ballots. 'The state of politics for New York right now for the Democratic Party is really an amazing litmus test for the Democratic Party across the nation,' Adrienne Adams told the New York Editorial Board, in one of its candidate interviews. Progressive groups and leaders, like the Working Families Party and Rep. Alexandria Ocasio-Cortez, D-N.Y., have urged voters to leave Cuomo off their ballots and rank only the candidates they align with most. For the WFP, that was Mamdani in first place, followed by Lander, followed by Adams, followed by state senator Zellnor Myrie; for Ocasio-Cortez, it was Mamdani, Adams, Lander, former Comptroller Scott Stringer, and Myrie. The non-Cuomo alternative candidates have sometimes portrayed Mamdani as green and unrealistic. But they've been busier introducing themselves as the responsible alternatives to Cuomo, appealing to the 50% of likely primary voters who view him unfavorably. 'If I'm running against someone, I'm running against Andrew Cuomo. He's who's leading in the polls,' Lander said in an interview after a forum for Jewish voters in the Upper West Side. 'I'm running against a corrupt, abusive, self-serving politician who's only running to rehearse his own grievances.' Mamdani's buoyant, omnipresent social media campaign has been hard for Lander and the rest of the field to compete with. When the spotlight has fallen on him, he has kept it by proposing simpler, bigger, and more aggressive ideas, like free childcare and a graduated rise to a $30 minimum wage. Justin Brannan, a city council member running for comptroller with Mamdani's support, said that he would not support him on BDS. But Adams, he said, had helped create the conditions for an electorate that craved an anti-austerity agenda, and didn't want to be told it was impossible. 'New York City used to be the place for big ideas, and somewhere along the way, we just stopped doing them,' said Brannan. 'De Blasio with universal pre-K was, like, the last time we did something big. The past almost four years with Eric Adams, we've been like, 'Oh, if we can keep the libraries open six days a week, that's a huge victory.'' At the Upper West Side 'New York Jewish Agenda' forum, Stringer proposed a $1 billion 'very, very rainy day' fund to protect the city from Trump administration attacks on grants or programs. Lander suggested putting 'less than $100 million' of the city's Medicaid funding into an independent authority 'so we can provide reproductive and gender affirming care' without Trump interference. Three days later, Mamdani summoned reporters to the Financial District for his plan to 'Trump-proof' New York: The taxes that would raise $10 billion, and total resistance to his deportations. Asked if he agreed with Mayor Adams that the NYPD should arrest protesters who interfered with ICE enforcement, Mamdani rejected the premise. 'It's ironic to hear that from a mayor who literally drove on the sidewalk in the final days of the previous mayoral election,' he said. 'This is an indication of their willingness to be accomplices to what is going on and what ICE agents are inflicting upon New Yorkers.' Six months ago, that answer might have been a problem for Mamdani. But most Democrats assumed, at that time, he had a lower ceiling — that the positions he'd taken would hold him down. After Mamdani's 'Trump-proof' press conference, an X account that clips news interviews shared one of the candidate sticking to his position that ICE should be abolished altogether. 'A lawless president does not mean we abolish entire agencies and our laws,' Adrienne Adams wrote on top of the video. 'People elect us as leaders to solve problems, not pledge allegiance to rigid ideologies.' One day later, she deleted that response, which had been torn apart by pro-Mamdani commenters. It was not, according to her campaign, what she really wanted to say. The decline of Eric Adams, since he wrapped himself around the president's finger, was the catalyst for Mamdani's rise. He presided over falling crime, which lowered the salience of that issue; he suggested that the forced busing of migrants from Texas, to take advantage of the city's generous sheltering laws, was forcing austerity on the city. As Adams receded, with Trump in office, the agenda changed. Mamdani's campaigning changed it too. His early ad campaign, put together by the team that made ads for Bernie Sanders and John Fetterman, got him into the conversation with candidates (Lander et al) who were taken more seriously as potential mayors. He leapt over them as Cuomo's closest competitor — and then put him into the cohort of potential mayors. This involved a lot of risks, taken in attention-getting ways, like his visit to the courthouse where a grad student leader of Gaza protests was being arraigned. Following the candidates, I heard many times that Trump had given Democrats envy of enormous plans that were crisp and memorable and not green-eyeshaded to death; Mamdani was the only contender doing that. Two years ago, some of the same dynamics here played out in Chicago — which has an all-party runoff system, not a Democratic primary then a general election. Voters forced a choice between Brandon Johnson, an anti-austerity progressive, and Paul Vallas, a conservative Democrat who, unfortunately for his campaign, was on tape attacking Barack Obama. If Mamdani wins this primary, I'd expect the specter of Johnson, who is tremendously unpopular now, to hover over New York. Adams is already running as an independent; Cuomo has the ability to. Tilson's campaign, after Cuomo's, is the most oriented around stopping Mamdani. At a weekend stop at a Ukrainian festival, after he gave a short speech while wearing a patch-covered jacket from his trips to bring aid to that country, he warned of a city that would be threatening to Jewish New Yorkers and far more poor, if Mamdani were able to win. 'We are the wealthiest city in the world,' said Tilson. 'I think he and the DSA people he surrounds himself with would create a hostile business environment that would drive away businesses and hurt economic growth.' For In These Times, the socialist writer and editor Bhaskar Sunkara asks whether Mamdani can become the millennial generation's Bernie Sanders. 'Mamdani has shown that it's possible to build a campaign that is simultaneously insurgent and competent.' In the New York Times, Nicholas Fandos studies Mandani's biography, which Cuomo is attacking as scarily unfit for a serious mayor. 'There are candidates in the field with exciting ideas and no track record of delivering on them,' said Lander. In The Free Press, Olivia Reingold why the current trend in the primary is a 'nightmare scenario' for Cuomo, and for New Yorkers who might have supported Adams again. For the Manhattan Institute, Liena Zagare why most of the non-Cuomo candidates are not using their sharpest knives on Mamdani, even as he soars.
