Word: citicorps
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MacKay Shields Financial Corporation, the investment firm that controls a segment of Harvard's portfolio including the Citicorp and Manufacturer's Hanover stock in question, told the University last week it was selling those particular stocks as part of a $1.6 million changeover to investments with greater and faster growth potential. Walter M. Cabot '55, deputy treasurer of the University, relayed that information to the Advisory Committee on Shareholder Responsibility (ACSR), but said at the same time that the sales stemmed from purely financial, and not political, motivations, though the sale has obvious political repercussions...
There is no indication that the sale of Manufacturer's Hanover and Citicorp stock represents Harvard's first step in taking a stand on the inhumane situation in South Africa. If in the future the University decides at long last to place morals over finances, it should say so, instead of throwing the controversy into the dry realm of finance, avoiding moral implications involved in the sale, and saving face in the business community. It is admirable when a university--even Harvard--listens to critics within its own community and publicly changes its policy to correct a glaring injustice...
...choice of an architect was crucial. Before coming to Citicorp, Muller had been in charge of real estate and construction at Harvard. There he had come to know and admire Hugh Stubbins, who designed the college's Loeb Drama Center and its Countway Library of Medicine. In line with the bank's desire for a "humane" building, Stubbins proposed to loft an aluminum-faced structure on huge columns 112-ft. tall, thus creating the space for the shopping area and atrium, a sunken entrance plaza with a waterfall tumbling down from street level, a renovated subway station...
...another new and mighty technological widget: the Tuned Mass Damper (TMD), an 800,000-lb. concrete block capable of moving three feet in four directions, which greatly reduces the lightweight building's sway in a gale. Determined to make the building as energy efficient as any in existence, Citicorp consulted Robert Bell, director of research and development for Consolidated Edison, who also happened to be president of Saint Peter's and chairman of the church building committee. Says Bell today: "Citicorp, in terms of energy conservation, is one of the most, if not the most, technically advanced buildings...
...chocolatier, an international newsstand-tobacconist, six other shops and nine eating places. These include a 24-hour English restaurant, whose waitresses seem to be on loan from Upstairs, Downstairs; a Hungarian rendezvous with an imported gypsy band; a Greek establishment with the salty flavor of Piraeus. Thus at Citicorp it is possible to leave work and, without stepping outside the Center, shop for a book or a new pipe, pick up a bag of custom-blended coffee, cash a check, raise a glass of wine and down a fondue, exchange smiles, go to a play, hear a concert-or even...