Word: divest
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January 9, 1985: The student-run Harvard Law Review decides to divest of its $113,000 worth of stock in south Africa related companies. Dean of the Law School James Vorenberg '49, reversing a decision made the year before, decides not to oppose the move...
April 1: Nearly 30 Law School demonstrators kick off a pro-divestment week by marching on Massachusetts Hall and calling on the University to divest of its $580 million worthy of stock in companies doing business in South Africa...
...effect, the group has simply contributed to the implementation of the Corporation's predetermined investment policy, and advised it on relatively useless proxy votes. Last year, however, the group took a bold, independent step. In a 35-page, thoroughly researched report, the ACSR recommended that the Corporation completely divest, and received a flat rejection. It also recommended that Harvard impose a time limit for conducting dialogue, within which it would require companies to improve their South African operations. Harvard said no again...
...University has responses for all of these issues. And disregarding the arguments about complete divestment, it is clear that the aCSR has been nothing more than a lightning rod. It simply diverts attention from the Corporation, misleading the community by implying that public opinion may be heeded. Moreover, one year after the ACSR voted to recommend that the Corporation divest completely, this year's ACSR, more than half of whom are newly appointed, voted last week to deviate from its recent stance in three major ways, all of which limit its scope of influence...
...will not even make policy changes or heed lobbies to do so at the University that is in his charge. I would urge Mr. Steiner and the rest of the governing boards to stop embarrassing themselves and, in turn, the University and to follow the ACSR's recommendation to divest. Samuel Sifton...