Word: acsr
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Dates: during 1970-1979
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...consider another action next year: a boycott of the Advisory Committee on Shareholder Responsibility, until such time as a reform of the group enables it to be more than simply a mechanism for legitimating the shareholding actions of Harvard, which still essentially does whatever it damn well pleases, ACSR or no ACSR...
Unlike at Hampshire College where students have not had any input into the investment or proxy decisions of the college, Harvard since 1972 has had a committee set up solely for this purpose, the ACSR. The ACSR is composed of twelve members--four students, four faculty, and four alumni--with the responsibility of advising the Harvard Corporation on social issues regarding the Harvard portfolio. In the past year, the ACSR has advised the Corporation on 47 different proxy issues carrying social implications and has attempted to define an acceptable general position for Harvard to take on both the Arab boycott...
...sole undergraduate representative to Harvard's Advisory Committee on Shareholder Responsibility (ACSR) I feel compelled to respond to Jonathan Ratner's indictment (May 25) of Harvard's investment policies in South Africa. Mr. Ratner has painted a picture of a monolithic Harvard Corporation which "completely ignore[s] the moral indignation of the students" by investing in companies with activities in South Africa. Further, the Corporation, he states, consistently votes against or abstains on shareholder resolutions which would have the effect of reducing these companies' activities in apartheid South Africa. This picture is just plain incorrect...
...regard to South Africa, the ACSR, after careful study, has adopted the view that a complete withdrawal of American companies from South Africa would not, at this time, be the wisest course (a view which I personally do not share). The ACSR felt that the issues of withdrawal or non-expansion are best dealt with on a company-by-company basis. As Ratner points out, "a few corporations have aggressively challenged apartheid regulations," and these the ACSR feels can often be a positive force for change in South Africa. Other factors the ACSR has considered are employment policies, nature...
...light of these views, the ACSR has recommended varying responses to the Harvard Corporation in regard to six South Africa-related proxy issues this year. Ratner has reported on two of these, Manufacturers Hanover Bank and General Electric. On Manufacturers, the ACSR faced the South African question for the first time over the issue of further loans to the South African government. Other than agreeing that we felt Manufacturers should establish a policy of assessing the likely social impact of each loan to the government, the ACSR could not agree on how to recommend to Harvard to vote its proxy...