Word: divesting
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With quiet resolution, President Derek C. Bok has resisted the demands of protesting students, alumni and community members who want the University to divest of its $416 million in stock in companies that do business in South Africa...
...Massachusetts legislature this fall will almost certainly pass a novel measure designed to encourage municipalities to divest their pension funds from American companies that do business in South Africa, according to several representatives...
...proposed bill offers inducements to municipal governments, which control more than $5 billion in local pension funds, to divest those holdings in return for increased flexibility to make other types of investments...
...government were to divest of all holdings in South Africa, perhaps it would lessen the chances of a violent, bloody overthrow of the white supremacist government, and pave the way for a peaceful solution. If, on the other hand, Harvard were to divest, the economic consequences would not be so great. Apartheid could easily survive without Harvard's $416 million worth of investments. But Harvard's divestment nevertheless could make a powerful political and moral statement, a necessary step on the way to national sanctions. And it is especially necessary if Bok's lobbying is to have any effect...
...divestment, if it ever occurs, will be a slow, gradual process. The first steps must be taken before the final step can be seriously considered. Bok has it in his power to make one of those essential first steps and he chooses not to. Without having made the choice to divest what monies he controls, how can Bok's call for sanctions be believable? How can his outraged telegrams, his signature on letters and petitions, be read as anything but empty words...