Word: acsr
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...rate, the student-faculty-alumni Advisory Committee on Shareholder Responsibility (ACSR) called last week for support of the Phillips resolution...
...theoretically possible that the jobs Caterpillar Tractor provides black Africans outweigh the harm done by supporting South Africa's present government through taxes and "charities." But the company's refusal to provide information necessary to evaluate its beneficence suggests that this is probably not the case, and the ACSR and Corporation were quite properly skeptical...
...Corporation's next chance to endorse the ACSR's skepticism comes next week, when it votes its Phillips Petroleum shares for or against an ACSR-endorsed resolution to force the company's withdrawal from Namibia, the southwest African territory that South Africa rules illegally and with the same rigid apartheid the government imposes at home. Until the Corporation follows the ACSR's lead on this and other matters, we will remain skeptical; but the Caterpilllar Tractor vote is at least a step in the right direction...
...student ACSR--the elected group of undergraduates which picked the two undergraduate delegates to the full ACSR--recommended Wednesday that the Corporation must either vote for shareholder resolutions to have the Phillips Petroleum and Continental Oil Companies withdraw completely from Namibia, the the south-west African territory South Africa rules in defiance of the World Court, or else "tacitly condone illegal and immoral corporate activity...
...full ACSR took substantially the same position Thursday; though its vote was formally on only the Phillips case, it will probably apply to Con Oil as well. The ACSR also voted to support a shareholder resolution to have General Electric disclose details of its South African operations, but it opposed a few other resolutions aimed at G.E., the most important of which asked the company to report to its shareholders on its involvement in the military's war with Southeast Asia...