Word: divesting
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...University does not divest by 2003, the E4D trust fund will be turned over to a local charity...
SOME of Egan's remarks in the last week have also brought the plane of the debate around the overseers election to a new low. He said that Tutu, who has for years called on Harvard to divest its remaining $168.3 million in South Africa-related stock, "has absolutely no interest in running Harvard." And he called those on last year's alternate slate, none of whom were elected to the Board, "second-rate' candidates...
What the Corporation has chosen to do is retainHarvard's selective divestment policy. Theofficial line on South Africa investments is thatHarvard will vote on proxy resolutions toencourage companies to divest, while refrainingselling stock in those companies should theyrefuse...
...Radcliffe President Matina S. Horner alsosays total divestment is not the best answer tothe apartheid problem. "If you totally divest, youturn your back on the issue," Horner says...
Additionally, University officials say theyencourage some companies to stay in South Africaif they provide humanitarian services. Forinstance, although Harvard asked most of itscompanies with South African holdings to divest,Liebman says the University exempts drug companiesfrom this rule "on the grounds that they areneeded...