Word: citibank
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Dates: during 1980-1989
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...line-drawing that seems fundamentally fallacious. Money sent for charitable ends will only free up more funds for the both a regime's program of internal repression and enforcement of apartheid. Harvard can exert its greatest leverage not by reforming South Africa from within--which neither it not Citibank not any other investor has been able to do--but by publicly dissociating itself from that nation and urging others to follow suit...
Express would work. He returned to Memphis with $72 million in venture capital from such organizations as Chase Manhattan, Citibank and New Court Securities...
...directly to the South African government. Even for the financiers that run this University, the thought of directly supporting a blatantly racist government was indefensible. And so they did get rid of some notes sitting in the Manufacturers Hanover Trust treasury, and of a sizeable chunk of money in Citibank. They did it secretly; they did it slowly; but they did it, and it earned enough publicity to have at least a little impact on the public perception of South Africa...
...another leftover struggle bound to continue. The Med Area power plant finally cleared its legal hurdles, many years and dollars behind schedule. The "revolutionary" Core Curriculum became fully implemented, but many courses bore a disturbing similarity to their predecessors in General Education. The Corporation sold $50 million worth of Citibank stock in accordance with its policy established in the late 70s--to divest itself of holdings dealing with the South African government--but was too bashful to tell anyone about it. Administrators and Faculty grappled with the issue of technology transfer and the propriety of University-business ties, another matter...
...Many put their cash into money-market funds, which are operated primarily by brokerage houses and financial management firms, and offered interest as high as 17%. The assets of those funds more than doubled during 1981, to $186 billion. Says Walter Wriston, chairman of New York's Citibank: "Americans are not stupid. They have been seeking a better return on their money and getting...