Word: ccsr
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...resolutions supported by the Advisory Committee on Shareholder Responsibility (ACSR) included setting up a review committee to forbid Caterpillar Tractor from selling its products to South African military police--a resolution ACSR turned down last year. The Corporation Committee on Shareholder Responsibility (CCSR), which lets ACSR do its research for it, abstained on the resolution because it said the situation in South Africa had not changed enough in the past year to warrant a new policy...
...protesters criticized especially the CCSR's two abstentions on what Mary F. Nolan, assistant professor of History and a speaker at the rally, called "two very moderate proposals." The resolutions included recommendations that IBM cease business transactions with the South African government and that Caterpillar Tractor not sell its products to the South African military...
...letter by CCSR chairman Hugh Calkins '45, the Corporation last week explained the reasons for the votes. Stating that a halt on sales to the South African government would also prohibit sales to hospitals and schools, the letter argues that these resolutions would amount to "a boycott that should be a matter for foreign policy and should be applied uniformly to all commercial relationships...
...letter also observed that the ACSR had rejected the same resolution on Caterpillar Tractor last year, and until the CCSR had further information on their changed position, the CCSR would register a no comment...
Meanwhile, Calkins reiterated that the letter is not a response to student protest, but is a written articulation of the CCSR's previous oral explanations...