Word: bennette
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Dates: during 1970-1979
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...response to student and Faculty pressure to vote Harvard's $22. million worth of GM stock shares with Campaign GM, Bennett said, "I only do as treasurer what is in the best interest of Harvard-and that means the students, alumni, and Faculty...
...Bennett affirmed his resolve to support the GM management. On May 18 the Corporation made its announcement: "All but a handful of the communications consist of a recommendation unsupported by consideration of what seem to us to be difficult issues raised by the resolutions. We believe that these issues can best be resolved not by a head count of supporters and opponents, but by thoughtful consideration of the means proposed to effect changes most of us desire...
...issue was not the only controversy in which Harvard Treasurer Bennett revealed his view of how Harvard should handle its investments. Harvard's tenth largest investment sum is placed in stock of Middle South Utilities, one of whose subsidiaries, Mississippi Power and Light, employs only 4.5 per cent black employees in an area where 50 per cent of the population is black. Investigations of two other Middle South subsidiaries-Arkansas Power and Light and Louisiana Power and Light-conducted by the Equal Opportunity Commission, revealed similar employment practices. One EEOC official said, in releasing the employment figures, "it is difficult...
Student critics of the Middle South investment asked not that Harvard sell its stock but that it use its prestige to change the policies of the company. Bennett sits on the Board of Directors of Middle South and Harvard owns five per cent of the company's stock. Yet the response of Harvard financial experts was to label the EEOC employment figures "a one-sided smear attack...
After the group refused an offer to meet privately with George F. Bennett '33, Treasurer of the University, and Albert L. Nickerson '33, member of the Corporation, President Pusey ordered the microphones turned on for two minutes...