Word: acsr
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Dates: during 1970-1979
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Divestiture of holdings in all companies operating in South Africa would cost Harvard between $5 million and $10 million each year, according to a study approved last night by the Advisory Committee on Shareholder Responsibility (ACSR...
Stevens added he does not expect the ACSR to discuss the South African controversy at its next meeting. "There is no resolution on the agenda that I know of at this moment on South Africa," he said...
...case, the Corporation has set up no group to evaluate the companies. The ACSR, we have been told many times this year, is designed to deal with ethical questions related to Harvard's investments. Yet when the ACSR voted overwhelmingly last week to support shareholder resolutions calling upon Motorola and 3M corporations to discontinue their South African operations, Hugh Calkins, acting on behalf of the Corporation, decided instead to abstain. This action made a mockery of their protestations of reliance on the ACSR--itself hardly a representative body. Unless the Corporation itself intends to review every company, it must either...
Particularly disturbing, considering the Corporation's professed abhorrence of apartheid, is its reluctance to initiate shareholder resolutions, as the ACSR and Southern African Solidarity Committee (SASC) recommend. The Corporation bases this policy entirely on the speculation that it would then be bombarded with requests to initiate many other resolutions. Were this to happen, however surely the Corporation could decide on an appropriate course of action. As the Corporation has already stated that South Africa is a special case, it could refuse to act on other topics; or it could, if it chose, decide to take an ethical stand in several...
...calls for a case review of the more than 60 company portfolios with South African operations--is wholly unacceptable. No amount of well-crafted verbiage can reconcile the decision with the United Front's three minimal demands, or even with the recommendations of the Advisory Committee on Shareholder Responsibility (ACSR...