Word: divests
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Dates: during 1970-1979
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Sabino Rodrigues III '74, one of the two undergraduate members of the Advisory Committee on Shareholder Responsibility, said this week he is considering asking the ACSR to recommend next fall that Harvard divest its stock in several corporations...
...formative stages; Rodrigues says he would have to get re-elected to the ACSR next year to carry out his plan. But he says the corporation that immediately comes to mind for possible divestiture is International Telephone and Telegraph, and that he doesn't believe Harvard should divest its stock in Gulf, as the Pan-African Liberation Committee demanded two years...
...past history suggests that the first possibility is a pipe dream. When Harvard was asked to divest itself of Gulf Oil stock two years ago, the University said it preferred to hold onto its shares in order to maintain influence over Gulf's actions. The University could conceivably demand that AP&L install the safeguards, but if AP&L refuses, Harvard will lose its bluff...
...because his New York law firm had handled some ITT matters.) ITT, fearing an adverse Supreme Court ruling and the probable loss of its profitable Hartford Fire Insurance Corp. acquisition, was seeking at least a delay in the suit. The Government was also asking that ITT be forced to divest itself of two lesser firms, Grinnell Corp. and Canteen Corp...
...Indiscretion. The appeal then was filed as originally planned. Before it was heard by the Supreme Court, however, the Justice Department worked out an out-of-court settlement allowing ITT to retain the Hartford firm-its priority aim-but to divest itself of most of Grinnell Corp. and all of Canteen Corp. Some outside business and legal experts felt that a Supreme Court decision might have been rougher on ITT. But White House and Justice Department officials have called it a good settlement for the Government, a judgment with which fired Special Prosecutor Archibald Cox concurs...