Activists plan vigil at ServiceMaster shareholder meeting
24 Jun, 2007 LM Direct!CHICAGO -- A coalition of religious leaders from around the nation, regional and national environmental groups, as well as workers will hold a prayer vigil outside ServiceMaster shareholder meeting being held here on June 28. The purpose of the vigil is to pressure TruGreen ChemLawn and its parent company ServiceMaster to move away from its use of lawn care chemicals.
The vigil is et for 10 a.m. on the south side of the Chase Tower in downtown Chicago.
Following the vigil, a delegation of religious leaders will attend the shareholders meeting in order to meet with representatives of ServiceMaster’s (NYSE: SVM) new owners, private equity giant Clayton, Dubilier & Rice. Religious leaders will ask CD&R to immediately take steps to safeguard the nations' children and pets by directing ServiceMaster to curb its pesticide use and "Be Truly Green."
If shareholders vote to accept the buyout, CD&R will buy ServiceMaster for approximately $5.5 billion, including the assumption of existing ServiceMaster debt. Donald J. Gogel, Chief Executive Officer of CD&R, has said that CD&R is committed to "maintaining a strong stewardship of the core values that have been the foundation of the company."
Despite a business model that relies on the continued use of lawn care chemicals, ServiceMaster has positioned itself as a steward of the environment, in part based on the religious underpinnings of the organization.
"Our message to CD&R is simple. They have said they want to both grow and maintain stewardship of ServiceMaster's core principles. We are hoping that they can accomplish what the ServiceMaster board could not, to live up in deed to the content of their words," said Paul Schramski of Pesticide Watch.
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