Word: divested
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...discussing the University's decision to retain its Gulf holdings. Robinson noted an incongruity between the University's explanation of its action and numerous statements by African and black American organizations, officials, and scholars urging the University to divest. "The overwhelming African voice has said to Bok that it is in our interest to have Gulf out. To have you out of Gulf and to have Gulf out of Angola. But the Corporation never deferred to the African voice," Robinson said...
...CASE OF THE PALC and Afro takeover of Massachusetts Hall and their accompanying demands--that Harvard divest itself of Gulf, that it reinvest the money in the Cambridge community, and that the protestors be granted amnesty--is equally endangered by prevailing rhetoric. The Corporation's begrudging and long-overdo response to PALC's requests has been needlessly antagonistic and its statement that it is "not morally wrong" to invest in companies which deal in "repressive and in humane" actions is itself morally repulsive. Furthermore, Harvard's purported hope that it can initiate reform of Gulf policy by demanding further information...
Nonetheless, President Bok's belated expression of the moral relativism inherent in University investment is far from beside the point. Given the fact that there is hardly a "pure" corporation around, there is no way that Harvard can hope to divest itself of all companies involved in imperialist ventures. While it is certainly preferable that Harvard rid itself of the worst of them, it can at least act as a positive nuisance in the affairs of the rest...
...deceive ourselves, though. Gulf, in underwriting the Portuguese regime, is a major offendor in this area; if only for embattled moral reasons. Harvard should divest itself of Gulf stock, regardless of the precedent it will set. But, similarly, let's not pretend that in disposing of its relatively meagre shares Harvard can expect to save black Angolese lives any more than, in 1969, Harvard's expulsion of ROTC failed to undermine the nationwide ROTC program...
Yesterday afternoon the Harvard Corporation issued at statement refusing to meet the demands of the Pan-African Liberation Committee and Harvard-Radcliffe Afro and divest itself of gulf Oil company stock, a company supporting colonialist rule in Portuguese-dominated Angola and Mozambique. This morning members of PALC and Harvard-Radcliffe Afro sized and continue to occupy the offices of President Derek Bok in Massachusetts Gulf stock and make a public statement that it will not be involved in racist imperialist economic ventures in the future. Gulf Oil Company, with the blessing of the Portuguese and United States governments. NATO...