Word: insouth
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Since the meeting, Harvard Corporation's 1990midyear report on Shareholder Responsibility hasrevealed that the University's investments inSouth Africa have increased $30 million to a totalof more than $168 million
They are the "two grandest villains... with over $300 million and $140 million, respectively, still invested inSouth Africa," she said. Harvard currently followsa policy of selective divestment, which involvesselling its stocks in South Africa relatedcompanies with poor records in dealing with Blackemployees...
Tutu's announcement reflected more than mereoptimism about Harvard's mindset--it alsoreflected optimism about the changing situation inSouth Africa...
...ACSR was created in 1972 to advise theCorporation's committee on issues associated withethical investing, but has no formaldecision-making power. Since 1985, Harvard'spolicy of "selective divestment" from companiesthat do business in South Africa has remained thesame, although the University's total holdings inSouth Africa have declined about 30 percent in thelast year as a result of companies deciding ontheir own to divest...
Abramowitz, the first to challenge the BUbanner policy, late last March hung a 4-by-10-ft.sign urging the school to divest its $22.3 millionworth of stock in companies doing business inSouth Africa. University employees removed thebanner after Abramowitz refused...