Word: austine
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Following the suggestion of the Wilson Report on The University and the City, the Austin Committee recommended one major exception to the rule: cases that involve "the University's duty to the more or less immediately surrounding community." In such decisions, the committee suggested, the University might consider community benefits as a "positive" reason to invest...
...latter is an apparent reference to Campaign GM, the group of Washington lawyers supported by Ralph Nader. Last Spring, Harvard voted its shares with the GM management, against Campaign GM. President Pusey created the Austin Committee in response to criticism of that decision...
Campaign GM is leading a similar proxy fight this year. If the Corporation followed the committee's recommendations, Robert W. Austin, Wilson Professor of Business Administration and committee chairman, said last night, "the University could vote with Campaign GM or vote against it." To a large extent, the decision would depend on the fact-finder's advice...
...University should not play a leadership role in such cases," Austin continued. He suggested "talking to the management of GM and urging it to change its policies" as one alternative stratagem...
...Austin Committee also urged the establishment of a "fact-finder" to field recommendations on the "non-financial aspects of the University's role as investor." This official would seek out investments that "are financially competitive, yield extra social benefit as well, and are promising enough to cover the extra cost of the effort required to find them...