Word: divestment
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...United States or with Iran. In October, the House overwhelmingly passed the Iran Sanctions Enabling Act by a vote of 414-6 (one of the bill’s original co-sponsors was Harvard alum and Massachusetts Representative Barney Frank). This bill authorizes state and local governments to divest from companies investing in Iran’s petroleum and natural gas sector or doing business with Iran’s nuclear industry. Since these companies are already liable for sanctions under the Iran Sanctions Act, states have a fiduciary responsibility to consider the financial consequences of holding stock in them...
When Zennstrom, 43, heard earlier this year that eBay wanted to divest itself of Skype, which had not created the kind of synergies the online auction house had hoped for, he approached eBay proposing to buy back the webphone company at a substantial discount. The Swede also made overtures to private-equity players in an effort to structure a deal. However, both eBay and private equity gave Zennstrom the brush. (Read "eBay Bids for Revitalization...
These latest findings, published this week in a letter to the New England Journal of Medicine (NEJM), suggest that several life and disability insurers, both in the U.S. and abroad, have yet to acquiesce to calls from the American Medical Association and others to divest their holdings in companies such as Reynolds American, Lorillard and Philip Morris. Many insurers cited in the letter say the study wildly overstates their investments, but the authors disagree. "Insurers continue to put their profits above people's health," said Dr. J. Wesley Boyd, the lead author of the report. "It's clear their...
...student-led push for Harvard to divest from companies doing business South Africa came amidst the country’s continued marginalization from the international community—South Africa had been barred from the General Assembly of the United Nations and was not allowed to participate in the Olympics. The South African government also faced other countries’ attempts to ban international trade with the state and it desperately needed loans from the International Monetary Fund...
...After a decade of heated debate, protests and hunger strikes, in May 1984 the ACSR voted narrowly in favor of recommending unilateral divestiture from companies that conducted business in South Africa. However, Harvard did not completely divest based on the ACSR’s recommendations. Instead, the Corporation subsequently chose a policy of selective divestment, which led to Harvard withdrawing investments from 15 companies. The Corporation argued that complete divestiture could do more harm than good for already marginalized black South Africans...