Word: acsr
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Dates: during 1980-1989
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...resolutions supported by the Advisory Committee on Shareholder Responsibility (ACSR) included setting up a review committee to forbid Caterpillar Tractor from selling its products to South African military police--a resolution ACSR turned down last year. The Corporation Committee on Shareholder Responsibility (CCSR), which lets ACSR do its research for it, abstained on the resolution because it said the situation in South Africa had not changed enough in the past year to warrant a new policy...
...ignoring the ACSR's recommendation, the Corporation has also exposed its "case-by-case" approach to be as indefensibly a sham as the most angry student protesters have charged. The ACSR supposedly exists to do the research leg-work that members of the Corporation lack the time for, and pass on recommendations that represent the most responsible positions--by Corporation standards...
...CCSR's abstentions show that the Corporation will listen to ACSR's voice when its "moderation" equals no steps against South Africa, but will quickly ignore its recommendations if they step beyond moderation towards responsible action. The Corporation's bald hypocrisy on these resolutions shows it wants the ACSR to help deflect student protest, but would rather it kept its conscience to itself...
...letter also observed that the ACSR had rejected the same resolution on Caterpillar Tractor last year, and until the CCSR had further information on their changed position, the CCSR would register a no comment...
...ACSR member Jorge I. Dominguez, professor of Government, praised the Corporation's efforts to air publicly its reasonings on the resolutions...