Baldor included in “socially responsible” fund
by November 4, 2008 6:59 am 76 views
One of the best performing “socially responsible” mutual funds is the Parnassus Workplace Fund (PARWX), according to a MarketWatch report.
And one of the stocks in that fund is Fort Smith-based Baldor Electric Co. (NYSE: BEZ). Why? According to the report, Baldor was cited for is literacy program for workers, and that 15 percent of its pretax profits go to workers. The company has more than 8,000 employees in the U.S. and around the world.
“As time goes on, I’ve become convinced that investing in a company that’s a good place to work will do very well for you over time,” said fund manager Jerome Dodson. “There’s a connection. When you get this kind of socially good management, you get overall good management.”