Word: engelhards
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During the 1978-79 school year the divestiture movement focused around the attempt to name the Kennedy School library after Charles Engelhard, the owner of a South African gold mining concern. The ensuing storm of student protest, that disrupted the dedication of the K-School building, led to Harvard revoking the name of the library. It was a very serious move, as it discourages major donors if the buildings that were to memoralize them for posterity could be renamed after they had signed the check. Nevertheless, the name was changed, and the world heard more about Harvard and South Africa...
...recalls the 1979 protest against naming the Kennedy School Library after Charles W. Engelhard, an American businessman who made much of his fortune through mining interests in South Africa, succeeded just when students would have had to give up for reading period. "But, ultimately there are seven white men sitting on the Corporation and they're going to make the decision, and one students realize they've made the decision, they're not going to keep protesting--and there's no reason they should." He adds that the administration's policy is to oppose whatever student protesters suggest...
Three years ago, after extended protest, the University agreed not to name the school's new library after Charles W. Engelhard, a South African financier whose heirs had donated generously to the school. The school kept the Engelhard money, but the library went un-named...
From each firm's point of view, a corporate marriage was attractive. Phibro, founded in 1914, had just been spun off from its smaller and less profitable parent, Engelhard Minerals & Chemicals Corp. of New York. Though it has been making record profits, Salomon had recently lost about $40 million in the highly volatile bond market. Several senior officials at Salomon, which is one of the few remaining partnerships on Wall Street, were also anxious to leave the firm and cash in their share of the operation...
Much of his foreign investment activity is being handled through one of Anglo American's affiliate companies, the Bermuda-based Mineral and Resources Corp. (assets: $2.4 billion), which is already a leading foreign investor in the U.S. through its 27% ownership of the giant Engelhard Minerals & Chemicals Corp. in New York. Last month Mineral and Resources Corp. expanded further in the U.S. with the takeover of Sovereign Coal Corp. in Bluefield, W. Va., Harman Mining in Harman, Va., and Terra Chemicals International, Sioux City, Iowa. If that sort of investment continues, Americans may come to know Harry Oppenheimer...