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...matter of policy, the University will not invest in predominantly South African companies--i.e., companies with more than 50 percent of their operations in South Africa. Harvard holds stock in American companies such as General Motors, Coca Cola, IBM, Exxon, and others that have operations in South Africa. The vast majority of these firms, however, have offices or branches in that country that account for less than one percent of their business...
Despite these arguments, some will still argue that it is simply immoral for the university to "invest in apartheid" and reap the benefits of such an unjust regime through the dividends received from these companies. In fact, the vast majority of the firms in our portfolio do less than one percent of their total business in South Africa. Any profits that are repatriated from from that country and find their way into company dividends make up only a tiny portion of the funds we receive from our equity holdings. Those who feel that even this amount is enough to condemn...
Westbrook said the unusual resolution was consistent with Cleveland's policy of "expressing abhorrence of and taking action on apartheid in South Africa." The city will not invest in companies doing business in the apartheid state. It is currently considering full divestment of city funds from banks doing business in South Africa, Westbrook said...
Gold has won some important converts to his brazen idea. The Swedish government, with support from the U.S. Gas Research Institute, is expected to invest $14 million to bore 15,000 ft. into the granite bedrock of Lake Siljan in central Sweden, in the hope of finding vast stores of natural gas. Reason: the lake was formed when a meteor slammed to the earth 360 million years ago, possibly fracturing the bedrock and allowing gas to percolate upward. Says William Staats, director of basic research at the Gas Research Institute in Chicago: "We believe that there is enough at stake...
...deal with MCI, IBM agreed to turn over Satellite Business Systems to MCI. In exchange, the computer company got 45 million MCI shares, or 16% of the total outstanding, along with the rights to buy another 7 million. IBM promised to invest an additional $400 million in MCI during the next three years...