Word: acsr
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Secretary to the ACSR from 1973-1981. Lawrence F. Stevens '65, who for eight years was perhaps the closed person on campus to the investment morality question, has some very definite views on the subject. As he stresses about the committee. "The sole product of the committee's deliberations is advice, and within this community, as we well know nobody has the market offered on advice...
...College Treasurer George Putnam '49, a Corporation member, says that the committee is "consistently helpful" to the Corporation, but he adds that the Corporation takes a wide number of factors into account in evaluating the ACSR's recommendation. He cites this year's high absenteeism at ACSR meetings and says the Corporation must ask itself. "Would the whole ACSR vote that way," on a particular issue? And he criticizes what he sees as the occasional politicization of the advisory committee--and tries to make sure the position of the committee always represents "intelligently achieved points of view...
Indeed on a wide variety of issues--corporate governance, infant formula, and many other less publicized debates--the ACSR and the Corporation have generally agreed...
...shareholder resolutions before Harvard from the beginning of the ACSR through 1981, the Corporation and the Advisory Committee have agreed roughly 70-80 percent of the time...
Nonetheless, certain issues have caused conflict between the two bodies--like South Africa, or, this year's debate over whether to invest in companies which produce nuclear weapons. The nuclear arms question is a good example of the kind of logic used by the Corporation when it opposes the ACSR on a particular issue. This key to understanding the process is the word procedent...