Word: acsr
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Dates: during 1980-1989
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...Advisory Committee on Shareholder Responsibility (ACSR) will convene for the first time this year later this month, joined by eight new members, two of whom will be the first women ever to serve on the committee...
More than any other point in its history, members of the ACSR now seem to sharply differ with the Corporation on how it can be most effective. All the committee members say that the ACSR has been most useful when it has made broad policy statements. Yet Calkins says that while these broad statements are valuable contributions to the general discussion, recommendations on individual shareholder resolutions should continue to be the ACSR's major charge...
Ironically, the greatest debate the ACSR seems likely to enter into in the next year will not center on any particular issue, such as South Africa, but rather this broader question of just what the ACSR's role should be. The Harvard Board of Overseers formed a special ad hoc committee last December to begin examining the development of Harvard's investment-monitoring apparatus. Roderick Park '53, chairman of the seven-member committee, says that his group has been meeting with members of the ACSR, the Corporation, and others, and will issue a report this December on the status...
Park says that if the University decided that the ACSR really does function best by making recommendations on a case-by-case basis, it should consider developing a second body specifically charged with discussing the broader issues of investment policy. This is a suggestion that has not been publicly made before, and members of the ACSR say that it would needlessly remove from them a task they are now performing well. Walter J. Salmon, the ACSR's outgoing chairman, says that the ACSR no longer needs to continually treat the same recurring issues one case at a time, but would...
...Corporation's record of accepting the ACSR's recommendations on specific investment issues has only been spotty at best. It now seems possible that it may overrule the ACSR's most personal recommendation of all; that it be permitted to continue to make broad policy recommendations...