Investor warns McDonald's over chicken welfare

McDonald's Corp. has long been on the receiving end of calls to take better care of its chickens. Earlier this month, actors and musicians including  Kristen Bell, Joan Jett and Weird Al Yankovic have lent their names to demands for more humane treatment. Now there's a new name on that list, and it carries a lot more weight. In a letter dated Aug. 22, obtained by Bloomberg News, New York State Comptroller Thomas P. DiNapoli expressed concerns over the "potential financial and reputational risks associated with McDonald's chicken welfare practices." DiNapoli was writing in his capacity as trustee of the New York State Common Retirement Fund, the third-largest public pension fund in the U.S. and—as of July 31—holder of more than $300 million in McDonald's stock. The warning, addressed to McDonald's Chairman Enrique Hernandez, Jr. and CEO Stephen J. Easterbrook, follows a broad media campaign by the Humane Society of the United States, including a television ad running in McDonald's hometown of Chicago and a letter with 20 celebrity signatories. They all urge the restaurant giant to follow competitors such as Burger King and Subway in making "modest reforms" to its chicken welfare policies, including transitioning to more humane breeds and slaughter practices.