Word: acsr
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Dates: during 1980-1989
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energized its "commitment" to investigating its ties to South Africa by initiating the case-by-case review system. Under this method, the ACSR systematically researches and reports on the practices of companies--but does so only on the recommendation of another shareholder...
Protest subsided. In theory, this was a step toward divestiture, but last year the Corporation voted against the ACSR's suggestions to sell stock in certain companies. In one key vote, the Corporation ignored the ACSR's advice because the ACSR had radically changed its position. The ACSR argued that its change of heart stemmed from new, condemning information. But for the Corporation, that was not enough...
...issue became the ACSR's credibility. Stevens says that the ACSR's decisions are inconsistent--and perhaps invalid--because almost half the committee turns over every year. But the Corporation craves consistency--so Stevens spent the summer planning how the ACSR can investigate each company more thoroughly so its decisions become more consistent...
...alumni of the torchlit march, little has changed. But for other undergraduates--those who no longer protest--enough has. Divestiture is still a dream--President Bok frequently says that the University can help South Africa more by remaining a shareholder and voicing its concern through resolutions. But the ACSR now acts as a moderate influence--and it may eventually temper the Corporation...
...debate goes on. More quietly, but it does remain, surrounding even the most basic issues. Kaufman admits the impact of a Corporation vote is extremely small. No matter how much work the ACSR does, only 1 per cent of any stock can be shifted by Harvard's vote. "I'm not sure this accomplishes anything and that's bad," he says, adding, "But for Harvard not to vote or abstain on any of these issues would be bad, too." Fall 1980. There are shades of gray between the black and white of spring...