Word: acorn
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...though no other shareholder was sponsoring a resolution about it, the outlook wasn't bright. Harvard committees don't usually break with corporate management if there's a remotely conscionable way to avoid it--lack of an enabling precedent, for example. At the same time, if Harvard agreed to ACORN's request, it might set a precedent for the future. Any activist group could pick out a company Harvard owned stock in and ask Harvard to play a leading role in opposing its policies citing the ACORN case. This bureaucratic nightmare must have taken on new, terrifying credibility...
...Arkansas Community Organization for Reform Now (ACORN) asked Harvard to use its financial influence (more than $9 million worth of stock in Middle South Utilities Inc., the company that owns Arkansas Power and Light, which is trying to build the plant) to ensure that the 2800-megawatt, coal-burning plant's smokestacks have additional sulfur dioxide emission controlls...
...Advisory Committee on Shareholder Responsibility began considering ACORN's request in November. Since then, the ACSR has commissioned a preliminary study on the power facility that took a couple of months, and then spent another month and a half waiting for AP&L to file a new environmental impact statement on the plant...
...ACSR is by no means rushing into things, and has asked seven Harvard science experts to look at AP&L's impact statement. When the professors report back, the ACSR will make its final decision--probably within the next six weeks--and probably will side, at last, with ACORN...
...ACORN spokesman said yesterday that five of the additional 19 colleges and universities owning AP&L stock that ACORN asked last month to help oppose the plant have said they will investigate its environmental impact...