Word: acsr
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...Corporation should have stuck to its earlier practice of following the ACSR's recommendations...
Even more important was the Corporation's decision, following the ACSR's lead, to call on Phillips Petroleum to withdraw from Namibia and on General Electric to disclose information on its South African operations...
...provided considerable impetus for the Investor Responsibility Research Center (IRRC), conceived of and headed by his assistant, Stephen B. Farber '63, and it is this organization upon which both the ACSR and the Corporation subcommittee rely for much of their information about social issues. The IRRC has affected other institutions as well; the most notable, perhaps, is Cornell, where this spring the trustees have voted proxies against management at ITT, Mobil Oil and Kodak...
...combination, the IRRC and the internal process represented by the ACSR and the Corporation subcommittee have increased the likelihood that Harvard's proxies will be voted on the basis of merit and not on blind prejudices. Regardless of how the Corporation votes this week on IBM, Continental Oil and Mobil -- and there is more room for disagreement with the ACSR this time -- the precedents set this Spring reflect a thoughtfulness previously missing in proxy policy...
Last week for the first time the Corporation disregarded a recommendation of the Advisory Committee on Shareholder Responsibility (ACSR). It abstained from voting Harvard's Eastman Kodak and International Telephone and Telegraph stock on ACSR-endorsed shareholder resolutions calling for disclosure of the companies' political gifts. The ACSR is not infallible, but it represents three of Harvard's constituents: students, faculty and alumni. When both it and the Student ACSR (chosen in a College-wide election last Fall) strongly back a resolution, the Corporation's reasons for not supporting that resolution ought to be very strong...