Word: acsr
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...Freshman Council voted last night to support the Undergraduate Committee on Shareholder Responsibility's (UCSHR) boycott of the Advisory Committee on Shareholder Responsibility (ACSR), overturning its decision of March...
...Only two of the three Freshman Council representatives to UCSHR were at the meeting last week, and the member who was missing represented a different viewpoint," Lashof added. UCSHR has refused to send an undergraduate representative to ACSR meetings since December 1978, and will not do so until the ACSR responds to two UCSHR proposals for reform of ACSR's procedures...
...ACSR also concluded that Harvard's portfolio management practices result in a return that is 2 per cent higher than the average return on common stocks. Because 46 per cent of Harvard's stocks are in MOSA companies, exclusion of those corporations as possible investments would lead to an annual 46-per-cent reduction in the increased dividends, the committee stated. That, in addition to an expected drop in donations of securities, would result in estimated losses of $4.8 to 9.8 million annually...
...figure may be accurate, but the high figure is "distinctly too high," Arrow said yesterday, adding "something is funny with" the ACSR's conclusion, based on studies by Stanford and Princeton, that MOSA stocks yield higher returns...
Although Arrow examined the ACSR's estimates at the request of the Southern Africa Solidarity Committee, he said yesterday, "I am not really inclined to favor divestiture on a large scale." Regardless of Arrow's personal convictions, his letter has convinced many that divestiture may be far less expensive than the ACSR said...