Word: divest
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Last year, I served as the undergraduate representative to the Advisors Committee on Shareholder Responsibility (ACSR), a 12-member body composed equally of students, faculty, and alumni I had conducted some preliminary research of my own and supported the position that Harvard should divest from companies operating in the Republic of South Africa...
...them. The case of Michigan State University is instructive. In 1978, the Board of Trustees of Michigan State, who are elected by the state's voters, decided to clear the University's portfolio of South Africa-related stocks. The Trustees instructed the University's portfolio manager, Scudder, to divest. However, Scudder reportedly had difficulty abiding by the South Africa-free guidelines, either because of ingrained resistance or unfamiliarity with the approach to investing...
...debate following Harvard's decision to divest itself of $1 million worth of stock in Baker International Corp. because that company could not show that it was "adhering to reasonable efforts to improve the efforts of non-white employees, their families and communities" has largely missed the print. While the Corporation's action was surely noteworthy, the "new initiatives" promulgated by the Corporate Committee on Shareholder Responsibility are far more significant...
...white South African government at a time when Congress has finally begun to get serious about economic sanctions. As one of the country's leading education institutions and as the home of some of the most important liberal and conservative thought in the country, Harvard's decision to divest would add moral and intellectual credibility to the divestiture movement as a whole. The impact of such a move would far outweigh any minor workplace improvement made possible by what Harvard has euphemistically called "intensive dialogue...
...ever be morally pure, because everything in which we invest, everything we buy, and every place we spend our money is somehow connected to a venture or an idea we find morally repugnant. Of those who continue to charge us with trying to wash our hands of apartheid through divestment we ask, why divest from Baker? Why not invest only in South Africa-related companies so we can have an even bigger impact on apartheid...