Word: acsr
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...RECOMMENDING that the Harvard Corporation vote its shares against resolutions that would force companies to disclose their sales in the Republic of South Africa, the Advisory Committee on Shareholder Responsibility acted in a way that is, if not racist, certainly misguided. The ACSR rejected the disclosure resolutions aimed at the International Business Machines Company and Texaco because the companies do not violate U.S. policy by trading with South Africa's minority government, and because the ACSR is not sure that IBM and Texaco do not in fact aid blacks in that white-ruled country by giving them jobs...
ALTHOUGH THE Advisory Committee on Shareholder Responsibility (ACSR) should be commended for its recent statement opposing the Arab nations' economic boycott of Israel, the ACSR's recommendation that Harvard abstain from voting on shareholder resolutions aimed against the Arab boycotts betrays a misplaced faith in the actions of the federal government...
...recommendation, which urges the Harvard Corporation abstain on resolutions requiring corporations to disclose whether they comply with the boycott, the ACSR stated that it believes governmental action against the boycott is now more appropriate than shareholder action, and that disclosure resolutions are therefore premature...
...ACSR's chairman, Donald F. Turner, professor of Law, says the ACSR feels that disclosure of compliance would not be the most effective way to fight the Arab boycott. But such disclosure would serve to define the problem more sharply by allowing the public and the government to accurately gauge its impact on American commerce...
...Corporation should not use the excuse of possible government action to absolve itself of the responsibility to vote its shares on the basis of moral and ethical considerations. In accordance with the ACSR recommendation, the Corporation should notify corporations that Harvard is strongly opposed to compliance with the Arab boycott. But the Corporation should ignore the ACSR's recommendation of abstention by voting Harvard's proxies in favor of the resolutions demanding disclosure of corporate responses to the Arab boycott...