Word: caterpillar
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Dates: during 1970-1979
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...midway through this year's round of proxy decisions, the Corporation sub-committee has consistently displayed a willingness to take the ACSR seriously. Already, it has followed ACSR conclusions in voting for disclosure resolutions at Caterpillar Tractor Co., Phillips Petroleum, Standard Oil, Union Oil, and, in part, General Electric. The proxies represent stock worth over $25 million...
Moreover, the subcommittee, n supporting the shareholder resolution at Caterpillar, followed the ACSR even though it disagreed with some of the disclosure provisions. Hugh Calkins '45 wrote Caterpillar explaining the Corporation's decision to vote against management, despite the subcommittee's reservations about the "full extent of the disclosure requested" and about a provision calling on the company to send each stockholder disclosure information...
This remains a significant stance, considering that the resolution called for disclosure of Caterpillar's support of the South African government, the company's treatment of nonwhite workers and its plans for investment in the Bantustans (the largely undeveloped area where South Africa says it will permit African self-rule...
...There is nothing holy in the specific information being called for on South Africa, even if it is the churches' resolution," George F. Bennett '33, University treasurer, who also dissented last week when the Corporation voted to have Caterpillar Tractor disclose information on South Africa, said Thursday...
...most telling basis for doubt remains--in the attitude of the Corporation. Although businesses have probably spent millions on mass media advertising designed to portray corporations as socially responsible, the Corporation, in voting for the Caterpillar disclosure, did not want to ask Caterpillar to go to the trouble or expense of sending the disclosure automatically to all stockholders...