Word: investors
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Dates: during 1970-1979
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...heart attack; in Los Angeles. Haley parlayed his blue-eyed Irish good looks, comic flair ("Trouble is my best material") and talent for song and dance routines into a lucrative career that allowed him to all but retire after World War II as a millionaire real estate investor. Last appearance: in Norwood, a 1970 movie directed by his son Jack Haley...
...view of the oft repeated objections of college presidents and boards of overseers that U.S. divestment is unlikely to affect racism in South Africa, the tally of divested dollars has been slowly mounting. A few boards of trustees have voted full divestiture. Among them, according to the Washington-based Investor Responsibility Research Center: Hampshire College (of $39,000), the University of Massachusetts (of $631,000), Ohio University (of $38,000), Michigan State (of $8.5 million), and the University of Wisconsin (of $11 million). Other colleges have chosen partial divestiture, or selling stock selectively in those companies that fail to observe...
...Andrew Young is not in favor of American companies withdrawing from South Africa, and he believes that they should use their leverage to encourage reforms. Student demonstrators and sympathetic trustees, though, see the issue as moral rather than practical or monetary. When Yale's Advisory Committee on Investor Responsibility recently recommended that the college sell $900,000 of stock in the Morgan Guaranty Trust Co. (which lends money to the South African government), the committee's statement put the case with remarkable candor: "We recognize that divestiture is of little practical consequence and hence is almost entirely symbolic...
...LETTERS on the ethical responsibilities of the university in society, President Bok has maintained that, as an investor, a consumer and a recipient of donations, Harvard should generally refrain from acting on moral grounds because such action would be ineffective in achieving its ends and costly to the University. But acts of conscience have never promised success without a price. No one would contend that by selling its South African holdings, Harvard alone could end apartheid or force corporate withdrawal from South Africa--the University simply does not control a large enough share of the stock of any single corporation...
President Bok is arguing that we should not use our rights in order to protect our rights. The University as an investor has the right to decide which corporations it wants to invest in on any grounds it deems appropriate. And yet, Bok argues that Harvard's decision to divest of its South African holdings would tend "to undermine the willingness of outside groups to respect the academic freedom of the University." Every consumer has the right to decide which products to buy and which not to buy and yet Bok believes that by exercising this right, Harvard will induce...