Word: arco
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Dates: during 1980-1989
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...Advisory Committee on Shareholder Responsibility (ACSR) voted last night to support a resolution asking the Atlantic Richfield Company (ARCO) not to expand its investments in Chile until the Pinochet regime there restores complete civil and political rights...
Committee members decided to support the proposal because they thought ARCO's invesments in Chile had a significant effect in stabilizing Pinochet's military government, Detley F. Vagts '49, professor of law and chairman of the committee, said yesterday...
...ARCO resolution resembles the pattern of shareholder resolutions meant to bring public attention to corporate activities in South Africa, Lawrence F. Stevens '65, secretary of the ACSR, said yesterday. He added, however, that he could not speculate why activist shareholders singled out South Africa and Chile as targets for their proposals when many other developing countries have poor human rights records...
Vagts, who was one of the ACSR who recommended abstention on the ARCO resolution, said he does not think "corporations have the skills, the knowledge, or the mandate to conduct foreign policy." He cited an earlier ACSR voted against a proposal to ban IBM's trade with communist countries as an instance when the committee decided against asking a corporation to participate in international politics
...Arco sees two big potential markets for solar power if ECD's new cells substantially cut the cost. The two: rural areas in the Third World that lack electricity, and big power utilities that need cheap fuel. Says Chambers: "If it all works, we will have an industry in place by the end of this decade." But, he admits, "there are still some cards we haven't seen...