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...million dollars two years ago to join Distinctive Retreats, one of a growing number of destination clubs that offer members plush vacation homes for up to 60 days a year in exotic locations around the world. But his thrill quickly turned to chill. Hariri, 46, who heads a biotechnology firm based in northern New Jersey, ran into problems booking the properties he wanted and says he was disappointed with the quality of the homes. "I felt I was being overpromised and undersold," says Hariri, who quit the club just months later...
Harvard announced yesterday that it would sell its shares in the oil firm Sinopec, a Beijing-based company with close ties to the Sudanese government...
...shares were worth a total of $8.3 million on the New York Stock Exchange at noon yesterday. Since Sept. 30, 2001, when Harvard first reported to the federal Securities and Exchange Commission (SEC) that it had purchased a stake in Sinopec, the price of shares in the Beijing-based firm has quadrupled...
...divestiture from Sinopec comes almost exactly one year after Harvard relinquished its stake in another Beijing-based firm, PetroChina, that also played an extensive role in Sudan’s oil export industry. “Oil is a critical source of revenue and an asset of paramount strategic importance to the Sudanese government,” the Harvard Corporation said in a statement at the time...
...Harvard still has not announced a divestiture from the Russian oil firm Tatneft, despite the fact that other schools—including Amherst, Stanford, and the University of California—have cut ties to Tatneft to protest the company’s links to the Khartoum regime...