Word: mobiles
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Dates: during 1970-1979
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Harvard abstained from voting its $14 million in Mobil Oil stock yesterday on a shareholder resolution to require Mobil's affiliates abroad--particularly in South Africa--to begin programs to establish equal employment opportunities. The Advisory Committee on Shareholder Responsibility (ACSR) had urged Tuesday that Harvard support the resolution...
...subcommittee stated that it would have supported the Mobil resolution if it had been certain that the ACSR--and the United Church of Christ, which sponsored the resolution--were correct in saying that it called only for "proper means" and "legal ways" of ending racial discrimination...
...Former Mobil Chairman...
...this organization upon which both the ACSR and the Corporation subcommittee rely for much of their information about social issues. The IRRC has affected other institutions as well; the most notable, perhaps, is Cornell, where this spring the trustees have voted proxies against management at ITT, Mobil Oil and Kodak...
...combination, the IRRC and the internal process represented by the ACSR and the Corporation subcommittee have increased the likelihood that Harvard's proxies will be voted on the basis of merit and not on blind prejudices. Regardless of how the Corporation votes this week on IBM, Continental Oil and Mobil -- and there is more room for disagreement with the ACSR this time -- the precedents set this Spring reflect a thoughtfulness previously missing in proxy policy...