Community groups take action at Pimco headquarters in Newport Beach, CA, BlackRock headquarters in New York City, and other major cities, to demand companies “Negotiate, not litigate”
Multiple Locations – On Wednesday, October 30, 2013, homeowners and community supporters in a number of U.S. and Global cities will visit the corporate offices of giant money managers Pimco and BlackRock as part of an escalating campaign by homeowners, community groups and unions who are fighting for local principal reduction programs in Richmond, California and numerous other cities across the country.
Fed up with inaction on troubled loans and BlackRock and Pimco’s opposition to the local principal reduction program called CARES (Community Action to Restore Equity & Stability) protesters will disrupt business at each location until they meet with senior officials about their attempts to intimidate cities considering local principal reduction programs, including the potential use of eminent domain. Both Pimco and BlackRock unsuccessfully sued the city of Richmond over its proposal.
Blackrock and Pimco have been central firms at the heart of the financial crisis—and like other Wall Street entities, BlackRock and Pimco both have been charged with various kinds of wrongdoing in the fallout from the housing crash, including fraud and failing to adequately protect clients. Wednesday’s actions will call on both firms to help homeowners and their own investors by working with cities determined to see troubled underwater loans fixed.
WHAT: Protests at Pimco and BlackRock offices in New York, San Francisco and Newport Beach, CA, St. Louis, Seattle and Atlanta
WHO: Homeowners, community supporters and union members
WHEN:
NEW YORK: Wednesday, Oct. 30, 12:15pm ET
SAN FRANCISCO: Wednesday, Oct. 30, 12:00pm PT
NEWPORT BEACH: Wednesday, Oct. 30, 10:30am PT
ST. LOUIS: Wednesday, Oct. 30, 12:00pm CT
SEATTLE: Wednesday, Oct. 30, 2:30pm PT
ATLANTA: Wednesday, Oct. 30, 1:00pm ET
CHARLOTTE: Wednesday, Oct. 30, 11:00am ET
JERSEY CITY: Wednesday, Oct. 30, 4pm ET
WHERE:
NEW YORK: BlackRock Headquarters, 55 E 52nd St, New York, NY
SAN FRANCISCO: BlackRock Offices, 405 Howard St, San Francisco, CA
NEWPORT BEACH: Pimco Headquarters, 840 Newport Center Drive, Newport Beach, CA
ST. LOUIS: BlackRock Offices, 1001 Craig Road, Suite 260, 2nd Floor St. Louis, MO
SEATTLE: BlackRock Offices, 601 Union St Suite 5600 Seattle, WA
ATLANTA: BlackRock Offices, 3455 Peachtree Rd, NE, Ste. 750, Atlanta, GA
CHARLOTTE: BlackRock Offices, 227 W. Trade St., Ste. 650, Charlotte, NC
JERSEY CITY: BlackRock Offices, 525 Washington Bl., Ste. 1405, Jersey City, NJ