These Dow 30 Companies are Helping Japan Now
In the aftermath of Japan’s (NYSE:EWJ) devastating earthquake and tsunami, many U.S. companies listed on the Dow 30 (NYSE:DIA) have offered various forms of aid to Japan’s ongoing relief efforts. Here’s how each company has contributed.
Alcoa (NYSE:AA) operates two manufacturing facilities in Japan, along with administrative and sales offices, employing about 350 people. Alcoa Foundation has announced that it will make a $50,000 contribution to the American Red Cross to support disaster relief in Japan. In addition, the company is setting up a website internally to allow employees to make a contribution to the relief effort.
Amex will also matching employee donations for relief efforts. Merchant discount rates will also be rebated for charitable contributions made on the American Express Card directly to the U.S. entity of non-profit organizations listed on the USAID website for Japan earthquake and tsunami relief. The rebate is effective retroactively from March 11 through May 15, 2011.”
AT&T (NYSE:T) announced Tuesday it has implemented international calling and texting support efforts for U.S. residential wireless and wireline consumers trying to connect with loved ones in Japan, following last week’s tragic earthquake and tsunami.
Effective beginning last week, March 11, and continuing through March 31, AT&T wireless postpaid customers will not be charged for:
- International long distance usage from the United States and Puerto Rico to Japan
- Text messages to Japan, originated from a U.S. wireless number.
In addition, and also effective March 11 through March 31, residential wireline customers can seek credits for up to 60 minutes of direct dial calling to Japan. Upon receiving their wireline bill, customers may call AT&T to receive adjusted calling for up to 60 minutes. In other words, no charges for up to 60 minutes of call time from the United States to Japan between March 11 and March 31.
For any of the above activity, customers will either see no charges reflected on their monthly statement, or they will see a full credit applied to their statement for activity between March 11 and March 31.
Still available, AT&T wireless customers can text “redcross” to 90999 to give a $10 donation to help the Red Cross with disaster support efforts in the area. No text message fees apply.
TV Japan – the 24 hour Japanese news channel – will also be available for free through March 17 to all subscribers, allowing viewers to follow the news and recovery efforts. TV Japan can be found on channel 3680.
Bank of America
Bank of America (NYSE:BAC) announced a 100 million yen ($1.22 million) commitment to aid victims of the earthquake and tsunami in Japan. This includes a 50 million yen grant to the American Red Cross, which is partnering with the Japanese Red Cross Society to help meet the immediate needs of survivors.
As relief efforts evolve in the coming weeks and months, the remaining 50 million yen will be directed toward long-term recovery, including the rebuilding of homes, schools and other critical infrastructure.
In addition, Bank of America will match employee pledges to the ARC “Japan Earthquake/Pacific Tsunami Relief Fund” through the bank’s Matching Gifts program, and will not limit its overall company donation.
The Caterpillar (NYSE:CAT)Foundation is providing a $1 million grant to the American Red Cross for disaster relief efforts in Japan. The northeast coast of Japan has been devastated by loss of life and destruction following an earthquake and tsunami on Friday, March 11, 2011.
In addition to the American Red Cross grant, the Foundation will match up to $500,000 in Caterpillar employee, retiree and dealer employee contributions to the Red Cross.
Caterpillar Japan, the business unit for Caterpillar based in Tokyo, has also pledged an additional $1 million to support disaster relief efforts, primarily made up of in-kind equipment donations.
Together, the pledges from the Caterpillar Foundation, Caterpillar Japan Limited and support from employees, retirees and dealer employees would total $3 million. The company will continue to monitor the situation in Japan and may make additional contributions as needed.
GE (NYSE:GE) has pledged $5 million in cash, services and equipment. Additionally, the GE Foundation is matching employee contributions to relief organizations 100 percent. Since last Friday, GE employees have donated more than $100K, all of which will be doubled by Foundation.
IBMers also are encouraged to make cash donations to disaster relief organizations such as the Red Cross, Save the Children and local Japan charities using payroll deduction.