Word: acsr
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Dates: during 1970-1979
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...Gulf Oil operations in Angola. Then, the issue of morality in Harvard's investment policy seemed as distant as South Africa itself. But the University publicly accepted the premise that moral and ethical issues should be recognized in University investment policy and established the Advisory Committee on Shareholder Responsibility (ACSR), a 12-member committee of alumni, students, faculty and an administrator formed to deal with these considerations...
...that banks are reluctant to release information on their criteria for deciding whether to make loans. And it all but rejected a policy of initiating shareholder resolutions, saying resolutions requesting information were frequently justifiable, but those demanding action were often futile. December brought into question the effectiveness of the ACSR and its case-by-case review of corporations in South Africa. The undergraduate committee member charged the committee was undemocratic and tended to stall on the issues before it. The resignation touched off a University-wide call for the ACSR's reform. Bok refused to accept two structural reforms...
...stay in the background most of the time, and follow Bok's lead. Dissent at this level is a rarity, controversy almost unheard of. The only Corporation member to make a name for himself among students recently is Hugh Calkins '45, chairman of the Advisory Committee on Shareholder Responsibility (ACSR), the Corporation front man for the South AFrica controversy...
After a semester of weekly meetings, the Advisory Committee on Shareholder Responsibility (ACSR) concluded the University should refrain from introducing shareholder resolutions in companies operating in South Africa except as a "last resort." The report concluded that "action" resolutions, calling on companies to take specic steps to further racial progress in South Africa, "seem to us to be relatively ineffective." Some students criticized the report, saying if the ACSR recognized the ineffectiveness of shareholder resolutions, then the logical next step should be divestiture...
...members signed a petition calling on the University to divest of its South Africa-related investments, and many spoke out against University policy at a Faculty meeting. Kenneth J. Arrow, departing Conant University Professor, said in a letter to the Faculty Council that the Advisory Committee on Shareholder Responsibility (ACSR) last year overestimated the cost of divestiture of stock in companies doing business in South Africa. The ACSR said the costs of divestiture would range from $4.7 million to $16.7 million, while Arrow said "the low estimate of $4.7 million seems too high."11CrimsonChris DammFormer Institute of Politics fellow...