Word: acsr
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Dates: during 1970-1979
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With divestiture essentially ruled out as a way to change corporate policy, the ACSR turned to the question of how to vote shares in Harvard's portfolio, specifically on resolutions calling for the withdrawal of corporations from South Africa. Unable to reach a consensus, the committee recommended evaluating the question of withdrawal on a company-by-company basis...
...Corporation agreed with the ACSR's position and established specific conditions under which it would support a resolution calling for withdrawal, including the following...
...company fails to disclose all the information required by the ACSR's guidelines...
...company refuses to demonstrate within a reasonable period of time its determination to implement the employment practices and policies set forth in the ACSR report...
Stevens believes the ACSR faces two major problems in deciding on questions of withdrawal. First, the committee must acquire "a decent base of information on which to judge," he says. "The second problem is you have to have some feel for what is net negative and net positive in South Africa," he adds. To obtain information, the ACSR and Corporation often write directly to companies, and sometimes Corporation members who know company directors can use their personal relationships to extract information...