Word: divest
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Dates: during 1990-1999
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Faced with declining dividends, the institutions wanted to sell their stock, but the CEO held the cards. The stock price, meanwhile, slid from its $56 high in 1992 to about half that in the summer of 1997. At the close of 1997, Grune agreed to let the institutions divest. Six of eight foundations dumped 11.8 million shares, worth more than a quarter-billion dollars. Critics like Paul Tierney, whose company Corporate Value Partners owns 1.5 million shares, think the deal is less than charitable. The institutions had to sell at 25% under the market price. They were "like lambs being...
...Student Affairs Committee, charged with voicing student concerns to the administration and the world, and not the Campus Life Committee, dedicated to bringing us a string of mediocre and over-priced bands for Springfest. Yes, the council did start to talk about politics, but in asking the University to divest from Nigeria, for example, it was merely taking a cue from the council of 10 years before in its constant battle for divestiture from South Africa...
...CCSR also abstained from a proposal that Aon corporation divest its tobacco stock holdings and on both proposals it received regarding equal opportunity and diversity issues...
Rowe decided to make NEES the first electric utility to get out of power generation. Under its new marketing pacts, the company will cut customer rates 10%. It will also divest itself of 20 power-generation plants. The anticipated $1 billion or so from the sale, however, will not pay down NEES's $3.5 billion to $4.5 billion in "stranded costs"--capital and other expenditures related to mandated power contracts with independent producers...
...largest and most effective campus demonstration ever. During the demonstration, the Yard was fully circled with thousands of sympathetic supporters who came to protest and to protect us against the possibility of a '69-type bust. There was no bust and Harvard did not divest. We did, however, focus the attention of the nation on an important human-rights issues. At the '72 Commencement we carried black crosses to symbolize our struggle...