Tsunami Aid From Private Sector Is Growing
Other companies making significant monetary donations include Nike (NKE), General Electric (GE), American Express (AXP), Walt Disney Co. (DIS) and First Data (symbol), which are each donating $1 million. Cisco says the networking company and its employees are donating about $2.5 million.
ExxonMobil (XOM)is contributing $5 million and will match donations by its employees. The oil company employs about 5,000 people in the affected countries.
The Bill and Melinda Gates Foundation, a not-for-profit founded by Microsoft (MSFT) Chairman Bill Gates, is giving $3 million.Ace (ACE), the insurance company, said it would match donations to any relief fund made by its employees. American International Group (AIG), the world's biggest insurer, said it also with match employees donation. The Starr Foundation, an organization affiliated with AIG, is contributing $2.5 million. The insurance industry is not expected to take a big financial hit from the earthquake and tsunami because the number of policies issues in the affected countries is relatively small. General Motors (GM) is donating $1 million and is matching employee donations. Other companies are donating services and goods. PepsiCo (PEP) and Coca-Cola (KO) are donating thousands of cases of bottled water. Kimberly-Clark (KMB) is donating diapers, surgical gloves and other health care products. FedEx (FDX) is shipping supplies to several affected countries on behalf of a number of relief agencies. Starbucks (SBUX), in addition to a $100,000 contribution, says it will begin donating $2 from the sale of every pound of Sumatra coffee it sells to the relief effort. The top of Amazon.com (AMZN) contains an appeal for contribution and allows visitors to make a direct donation to the American Red Cross. As of this morning, the online retailer had collected $4.3 million from 71,724 contributors. The nation's biggest retailer, Wal-Mart is contributing $2 million to the Red Cross. The company also said it would
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