ustxtxb_obs_2004_10_08_50_00017-00000_000.pdf

Sen. Eliot Shapleigh tells constituents about the march on city hall. photo: Alan Pogue ASARCO opponents interpreted it as tacit approval by the council for renewal of the permit. The specter of ASARCO starting up again galvanized Sen. Shapleigh and local activists. The senator grew up near the smelter and remembers it at its worst. “When the smelter cranked up, my mother would come into the yard and tell me to come inside,” he remembers. “One could feel burning acid in the back of the throat and see yellow flakes coming down from the sky.” City officials put the item back on the city council’s agenda. The weekend before the meeting, Shapleigh, along with community residents, including Yellen, walked the Three Ways to Shape a Better World With Your Investments Domini Social Equity Fund offers growth opportunities through a portfolio of stocks selected for their social and environmental performance. Domini Social Bond Fund provides diversification while supporting homeowners and small business owners in struggling communities. Domini Money Market Account offers safety and liquidity through FDIC-insured deposits that help promote community development. Please obtain a current prospectus for more complete information including risks, fees, and expenses, by calling 1-800-530-5321 or online at www.domini.com . -s r 1Domini SOCIAL INVESTMENTS’ 71w Way You Invest Matters’ Visit www.dornini.com or Cali us at 1-800-530-5321 The Domini Social Equity Fund and the Domini Social Bond Fund are subject to market risks and are not insured. You may lose money. The Domini Social Bond Fund’s community development investments may he unrated and carry greeter credit risks than the Funds other investments. The Domini Social Bend Fund currently holds a large percentage of its portfolio in mortgagebacked securities. During periods of falling interest rates these securities may prepay the principal due, which may lower the Fund’s return by causing it to reinvest at lower interest rates. NIL Investment Services U.C, I wouldn’t for a minute choose our investment over our daughter’s ability to move:’ Without a recommendation from the city and the governor, the EPA will not place El Paso on the national priority list for Superfund. Citing ongoing negotiations over the clean-up between ASARCO and the EPA, current El Paso Mayor Joe Wardywho, backed by local business interests, defeated Caballero in 2003refused to make the request this fall. The next opportunity won’t come until the spring. 1 Paso residents were so consumed by the debate over whether they should allow parts of the city to become a Superfund site that few noticed ASARCO’s 10year operating permit had come up for renewal before the Texas Commission Suddenly, with copper prices rising once again, the smelter going back online seemed like a real possibility. It wasn’t lost on the company or its allies. Among the groups who filed amicus briefs for the permit renewal were the Texas Association of Business, the Texas Chemical Council, and the El Paso Chamber of Commerce. Under the permit, ASARCO would be allowed to emit a grab bag of toxins, including 6,672 tons of sulfur dioxide and 7.69 tons of lead. The company insists that new pollution-control devices, installed at a cost of tens of millions of dollars, make the smelter a state-of-the-art facility. But while there is much disagreement in El Paso over the issue of a Superfund designation, there is more unanimity on the question of whether ASARCO should start up again. “We’ve enjoyed the last few years without ASARCO operating:’ says Yellen. “We’ve seen the air quality improve:’ Renewal of air permits is usually a perfunctory exercise, without even a contested hearing. But in this instance, the TCEQ decided to allow for a hearing on the renewal permit. ASARCO appealed. A majority of the El Paso city council decided not to take a position on ASARCO’s challenge. Many 10/8/04THE TEXAS OBSERVER 17