Word: divesting
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Monday, 4--Harvard's governing Corporation agrees to consider the Board of Overseer's recommendation that the University divest of its South Africa-related holdings. "Golly," says President Bok, "What a good idea. Why didn't that ever occur to Henry...
Monday, 11--The Corporation votes to divest of all South Africa related stocks...
Proponents of the measure said enactment could induce Harvard, which has been the main beneficiary of state-sponsored tax-exempt bonds, to divest in order to continue expanding. Harvard stands to lose between $20 million and $130 million in revenues if the measure passes, said Berger...
...major goals of the bill is to encourage Harvard to divest immediately from companies with South African ties, said David Osborne, a spokesman for Barrett. "As an alumnus of Harvard, Barrett supports the use of state control over tax-exempt status for social gain," Osborne added...
...written off to misguided youthful idealism. But to have your own Board of Overseers, distinguished business and political officials among Harvard's most prominent alumni, tell you your investment policies are misguided and immoral is another matter. Whether or not the Overseers' legal authority to force the University to divest is accepted, their moral authority cannot be ignored...