Word: anti-apartheid
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...reduced to $5 million by the federal judge who assessed the fine, the company contributed $8 million to set up the Virginia Environmental Endowment. But the Olin case raises some questions about the proper exercise of judicial discretion. Had the judge merely fined Olin for violating the anti-apartheid arms ban, the $510,000 would have wound up in the federal treasury. Do the people of New Haven have any more right to the money, asked some observers, than U.S. taxpayers? To University of Southern California Law Professor Christopher Stone, it is no wonder that Olin is "enthusiastic" about Zampano...
...afternoon the students came out. Not to be outdone by recently successful demonstrators at the University of Pennsylvania and Boston University, they chanted anti-apartheid slogans, marched and held up signs urging Harvard to divest itself of stock in firms supporting apartheid...
...subcommittee, chaired by Sen.Dick Clark (D-Iowa) and staffed by the late Sen. Hubert Humphrey (D-Minn.) and Sen. James Pearson (R-Kans.), spent more than a year researching the topic. The subcommittee interviewed representatives of corporations and banks operating in South Africa as well as members of anti-apartheid groups. It investigated corporate labor and management policies in South Africa and analyzed the ways in which U.S. banks affect the finances of the Vorster government...
...justifications for the presence of U.S. corporations in South Africa, the Clark subcommittee further substantiates the need for a significant change in America's economic policy towards South Africa. While the subcommittee itself stopped short of recommending such changes in its report, it provided an invaluable aid to the anti-apartheid cause. When the Harvard Corporation decides on its own policy towards investments in firms operating in South Africa, it should keep in mind that the Clark subcommittee has already debunked many of the traditional myths surrounding the beneficial role of U.S. companies under apartheid. The Corporation may very well...
Clearly the University must take a stand on the larger issue of investing in any corporations helping to uphold the apartheid system, but it seems naive to expect any significant anti-apartheid decision to emerge from the ACSR, the group entrusted with advising the Corporation on social implications of investment policy. The ACSR has been meeting since October to discuss the South African issue, and although it has made slow progress in reaching a decision on the issue, it is trying to meet an unofficial mid-March deadline for hammering out a policy towards companies with ties to South Africa...