Word: gm
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Dates: during 1970-1979
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...coordinators of last spring's Campaign GM are redirecting a new offensive in Washington...
...which all the constituents of the University will regard as legitimate." He quoted from the report: "'Solutions' that do not specify the machinery of choice and implementation rarely solve any problem. More often, they beg it." Such radical talk-at least from a committee-indicates that controversies like Campaign GM should be met not with philosophical but with pragmatic political innovations. "It's almost impossible to find any guidelines for corporate virtuousness," Allison said. "Yet the Treasurer and the Corporation make such judgments every day. At least in the case of front-page news like proxy votes, there...
...this promising theme-the alternative machinery for managing Harvard's budget and portfolio-is gingerly broached and often quite airily dismissed. Had the memorandum tried to detail one new way for voting the proxy or reviewing the portfolio, it would have necessarily clarified the case for institutional reform. The GM proxy issue could have provided this opportunity. In a confused meeting last spring, the Faculty argued that the University had some moral responsibility for the 100 or so corporations which made up the $1 billion portfolio. Apparently ignoring this commotion, the Corporation voted as the Treasurer Mr. Bennett directed...
...history of Campaign GM at Harvard was more debacle than debate, for it was very unclear what institutional procedures the reformers should use to present their case. There was no place for the debate to center. The Corporation, as always, remained insulated from this kind of grass-roots politics. The Treasurer was talking only to his friends on the Board of Directors at GM. The Faculty of Arts and Sciences had no authority at all, and when it finally did pipe up, alienated the other faculties in the University. The Faculty also proved too unwieldy to state a coherent rationale...
Some critics have considered the symbolic protest embodied in Campaign GM and other proxy fights to be a futile and clumsy type or melodrama. The guidelines can become a hopeless morass, as they did last year at Princeton. The Malkiel Report tried to evaluate the school's investments in companies operating in South Africa. This Princeton effort illustrates the complexity of drawing up moral criteria to judge the different ranges of financial involvement in South Africa. Directly or indirectly, the committee found, almost every company in the portfolio was contaminated-companies which had affiliates or subsidiaries operating in South Africa...