Word: investers
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Dates: during 1980-1989
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...CORPORATION SUBCOMMITTEE that votes on shareholder resolutions last week took a decisive step backwards. In a discussion with the Advisory Committee on Shareholder Responsibility (ACSR), which advises the Corporation on investment ethics, the subcommittee stated that Harvard need not consider a company's moral standing before deciding to invest in a company--not even to the point of checking whether the company has signed minimum-labor guidelines. A stock only takes on moral dimensions, the committee would have us believe, after it has been bought--just in time to set in motion the lengthy bureaucratic struggles the ACSR must...
...prior to the war the subject of the Falklands had provoked little if any interest, and other than a small but vociferous group of supporters in Parliament the majority of the population remained ignorant of the existence of the islands. The British, facing austerity at home, were unprepared to invest the necessary money to develop the islands, yet apparently unable to make a serious effort to divest themselves of the territory. In the meantime they stalled negotiations with the Argentinians...
...find it so outrageous that Harvard is not using at least the Sullivan principles as a screen" for deciding whether to invest in South African-related companies, said Frederick T. Smith, a Law School student member of the ACSR...
Mackall added that other universities, like Cornell, Pennsylvanian and Yale, have adopted policies where the Sullivan principles are the minimum standard, and they will not invest in companies that don't sign the guidelines...
Since Harvard is, willing to divest from companies that do not follow certain criteria for activities in South Africa, Mackall said there is a "fundamental inconsistency" if Harvard is not willing to take a positive step in the opposite direction and not invest in companies that don't meet the same criteria...