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As ServiceMaster Shareholders Vote on Buyout to CD&R

ServiceMaster Shareholders, Coalition of Religious Leaders, Environmentalists, SEIU to Call on CD&R to in Shareholders Meeting to Make TruGreen “Truly Green” 


Chicago, IL – Citing the public health and environmental dangers of lawn care pesticides used by TruGreen ChemLawn and its parent company ServiceMaster , a powerful coalition of religious leaders from around the nation, regional and national environmental groups, as well as workers will hold a prayer vigil outside the June 18th Shareholder meeting being held in Chicago.

Following the vigil, a delegation of religious leaders will attend the shareholders meeting in order to meet with representatives of ServiceMaster (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 potentially dangerous and toxic 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.

Visuals:People linking arms and signing, yellow picket signs shaped like chemical application warning flags that say some message to CD&R (a la http://www.bannermarketinggroup.com/MARKINGFLAGS_files/image006.jpg ), Blown up diagrams of warning labels juxtaposed with company principles. Who: Paul Schramski, Pesticide Watch Max Muller, Green Century Funds Pastor Adam Phillips, Resurection Covenant Church (Chicago) Rachel Rosenberg, Safer Pest Control Project Jono Shaffer, SEIU Private Equity Project What: Prayer vigil and delegation by religious leaders When: 10am-11am vigil outside; 11am-12pm delegation inside shareholders meeting June 28th, 2007 Where: South side Chase Tower, 10 S. Dearborn St (the Loop), Chicago, IL.

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Posted on Wednesday, July 11, 2007 at 03:49PM by Registered CommenterAnthony S Jennings in , | CommentsPost a Comment

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