Word: divested
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GOVERNOR EDWARD J KING suffered a number of political setbacks during his controversial term but it wasn't until two days before the end of his four years in office that the legislature overrode a veto The vote this week upholding the legislature's previous decision to divest all state pension finds from firms doing business in South Africa was not even close The Senate voted 23 to 5 on the sanction on Monday the House followed suit the next...
...setting this example, the legislature should also step up the heat on private institutions within the Commonwealth--especially Harvard Since the divestiture issue exploded on campus four springs ago. University officials have firmly withstood public pressure to divest from businesses contributing to the economic welfare of South Africa's apartheid system. President Bok has upheld the importance of universities presenting their political neutrality, the Corporation has insisted that divestment would diminish any leverage Harvard might have over the behavior of these companies, along with hurting the University financially...
...moral imperative presented by the official racism of South Africa would in my judgment be a circumstance that calls for an extra business commitment." Granted, that an institution of learning, such as Harvard, must be more concerned with political neutrality than a state government, the University's willingness to divest from firms making loans to South African government as it did with Citicorp--and its agreement to pressure companies working in the company to support higher standards for racial equality--as it is doing with Carnation--already violate this absolute moral rule Bok himself has acknowledged that South Africa...
That state government, especially the state in which Harvard resides, found it necessary and proper to divest from companies doing business in South Africa takes the campus debate out of the realm of the theoretical, and gives the arguments for the measure new weight Advocates of divestment should take the opportunity to put new pressure on Bok and the Corporation to justify their stance, or to change...
...investors benefit more handsomely than on Wall Street. Abruptly abandoning a costly seven-year struggle to break up AT&T, the world's largest business corporation (1981 revenues: $58.2 billion), the U.S. Justice Department agreed to a surprising out-of-court settlement in which Ma Bell pledged to divest itself of about 75% of its total assets in return for permission to compete freely in telecommunications and computer markets. The action directly affected some 3.2 million shareholders, who late next year will receive, in addition to each ten shares of AT&T then held, one share of stock...