Word: clout
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Opposition to SALT already is impassioned and very well organized. Leading the attack is the Committee on the Present Danger, a blue-ribbon nonprofit think tank that was formed two years ago. Though it has only four full-time employees, its clout lies in the respect enjoyed by its 162 members, such as former Treasury Secretary C. Douglas Dillon, former Secretary of State Dean Rusk and AFL-CIO Secretary-Treasurer Lane Kirkland. Its principal SALT spokesman, Paul Nitze, Deputy Secretary of Defense under Lyndon Johnson and a SALT negotiator under Nixon, has an intimidating expertise on defense matters...
...MANY undergraduate women, the question of conflicting loyalities is very real. Some feel that whatever attachments they have to Radcliffe, they are mostly sentimental; having no clout. Radcliffe cannot be an effective representative of their interests. Harvard holds the clout, the purse-strings; therefore, their petitions must be addressed to Harvard...
...many IBM shares as they care to, since they want to maintain balanced portfolios, and the stock has been too expensive for all but the richest individual investors; so demand for the shares has declined. Politically, the more widely a company's stock is held, the more clout it has; AT&T's nearly 3 million shareholders, for example, constitute a powerful lobby. IBM could use support from more than the 579,384 shareholders it now has as it fights the Justice Department's attempt to split it up and moves into the heavily regulated field...
...clout of PAC stems from the campaign amendments of 1974, limiting individuals' political contributions to $1,000 a candidate. This blocked corporate executives from donating huge sums to pro-business politicians. But the legislation encouraged the formation of corporate PACS that can give candidates up to $5,000 apiece per election. The PACs raise most of their money from executives and stockholders. The law also allows them to appeal twice a year to rank-and-file employees for anonymous donations...
...members fear that if Harvard were to initiate a shareholder resolution, stock prices could be driven down so far that the company would sue Harvard, causing Harvard to pay out all sorts of legal expenses. (This view, incidentally, conflicts with the Corporation's view that Harvard has so little clout that divestiture would be ineffective.) This fiscal and legal responsibility is largely redundant. Harvard has some extremely competent management investors and I am sure the administration has professionals to deal with other facets of these subjects. Not only is the ACSR's concentration on them inappropriate, it is dysfunctional...