In February, the Domini Social Equity Fund removed Wal-Mart from its portfolio. The decision to dump the Fund’s 1.2 million shares of Wal-Mart stock was prompted primarily by concerns about the company’s labor and human rights policies abroad.

Domini had initially sought to alter Wal-Mart’s practices through shareholder activism.

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Having saturated rural and suburban markets, big box retailers are making an aggressive push into central cities. In many communities, however, they are facing strong neighborhood opposition.

Last year, Home Depot, which has 1,100 outlets worldwide, announced its intention to open a store in the Hollywood neighborhood of Portland, Oregon. The corporation proposed a 4-block, multistory building that would combine a 100,000 square foot store with offices, apartments, small shops, and two levels of above-ground parking.

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Residents of a Madison neighborhood were shocked to learn in early December that a 20-year-old local grocery store would be closing its doors. Ken Kopp, owner of Ken Kopp’s Fine Foods on Monroe Street, one of the last independent grocery stores in the city, announced he was retiring. Unable to find a buyer for the grocery business, Kopp planned to sell the property to a developer who intended to build a 14,000 square foot drive-through Walgreens.

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In the last issue of this Bulletin, we reported on a massive citizen effort in New Rochelle, New York to block a 300,000 square foot Ikea furniture superstore. In late January, Ikea and the city jointly announced that they would drop the project.

Although the press release issued by Mayor Tim Idoni, who strongly favored the chain, focused on certain unresolvable traffic issues, opponents contend that the organized and sustained citizen opposition ultimately led to the project’s demise.

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Located on Lake Michigan, the small town of Petoskey in northern Michigan draws thousands of visitors every year. They come for the spectacular scenery and for an opportunity to experience what many communities have long since lost: a vibrant downtown.

Renowned for its distinctive character and century-old buildings, downtown Petoskey is more than a quaint destination for tourists. Its a place that serves the everyday needs of residents.

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