Word: abstaining
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Despite last night's ACSR recommendation, it appears likely that the Corporation--which has the final say on how Harvard votes in proxy resolutions will abstain on the Du Pont resolution. Thus far this year, members of the Corporation have abstained on nearly all the nuclear weapons-related issues that have arisen in companies in the University portfolio. The Corporation last week abstained on a similar resolution--which the ACSR supported--calling on General Electric to end its management of the Pinellas nuclear weapons plant...
...Corporation last week voted to abstain on a shareholder resolution that calls on the American Telephone and Telegraph Company (AT&T)--in which Harvard owns about $20 million of stock--to set up a special committee to evaluate its nuclear weapons development...
...Corporation yesterday decided to abstain on a shareholder resolution that calls on the American Telephone and Telegraph Company (AT&T)--in which Harvard owns about $20 million of stock--to set up a special committee to evaluate its nuclear weapons development...
...statement released yesterday, the Corporation Committee on Shareholder Responsibility (CCSR) said it decided to abstain because it did not wish "to establish a confused or inconsistent record" on shareholder resolutions, since the ACSR has in two years come to two separate conclusions on the same issue in close votes. Last month, the ACSR approved the resolution 6-4 with one abstention...
Many companies have a "vested interest" in seeing nuclear arms construction continue. Smith said, adding, "You can't abstain on the nuclear arms race...