Word: acsr
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...Advisory Committee on Shareholder Responsibility (ACSR) recommended these proposals unanimously, except in the case of the Mobil resolution on Chile--where a plurality voted for and only one member voted against the proposals...
...they did not find fault with the company's actual policy. But IBM's board of directors did officially oppose the resolution, and they allow sales to several agencies that cannot be defined as either humanitarian or medically justifiable. Thus, the Corporation managed to pay lip service to the ACSR's approval of the measure while giving IBM's management a resounding pat on the back...
...Mobil, Corporation members claim that, although they agree in principle with the ACSR's recommendation in favor of the resolution to stop the company's sales to the South African military and police, it is too far-reaching and its wording did not effectively carry out its professed intent. Even if the Corporation, as it has said it will, sends a disapproving letter to management explaining its vote, the abstention at Mobil officially registers Harvard as having no opinion regarding the practice of a company that publicly justifies its continued bulk, long-term contracts with the South African military...
Stevens said that the ACSR will meet Monday with members of the Corporation for an informal discussion of the issues and specific shareholder resolutions on which the two groups have voted differently this year. Since September, the Corporation has not voted in accordance with ACSR recommendations on several major shareholder resolutions...
Monday's meeting will address the broad categories of disagreement between the ACSR and the Corporation this year, Stevens said...