Word: acsr
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...years as a graduate student representative to the Advisory Committee on Shareholder Responsibility (ACSR) has given me ample opportunity to observe the willingness of the Harvard Corporation to rise above principle when the occasion demands. I hope the following account will provide the Harvard community with greater insight into the politics behind the proposed change in University investment policy, and move some to make their opposition known at the ACSR open meeting scheduled for Thursday, March 4, at 7:30 p.m. in Emerson...
...dismay, Harvard's commendable action received unexpectedly widespread press coverage and proved highly embarrassing to Citibank and the South African regime. Soon after, Citibank dispatched a representative to consult with the Corporation and lobby University officials to relax their present policy. The Corporation responded by applying pressure on the ACSR to approve the repeal of the 1978 concession, but the ACSR proved itself more than an ornamental rubber-stamp and voted down the proposal in May 1981. The ACSR majority concluded that the University had made a commitment and must honor...
...issue surfaced again in January of this year when the Corporation reintroduced the old proposal to a new and generally inexperienced ACSR. A Corporation official began the January meeting with a homily on the evils of apartheid and the great weight he placed on ethical criteria in investment policy. Then, almost as a casual afterthought, he asked the ACSR to rectify a "minor flaw" in the University's current bank policy which would force it to divest from banks trying to make "good loans" to the South African government. He gave as an example the Citibank loan which he claimed...
...open meeting looms as students' last formal chance to prevent the Corporation from taking back the concessions it made to protesters in 1978. It may also, as some have suggested, prove whether the ACSR has any real potency of its own--whether it exists to deflect or reflect student criticism...
...ACSR should have the courage to stand up to the Corporation by registering student concern to it. We urge students and faculty to attend the ACSR's open meeting and to make their voices heard in an effort to influence the Corporation. It could be their last chance...