Word: mobiles
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Dates: during 1980-1989
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...Mobil Oil, the largest U.S. firm still doing business in South Africa, had staunchly refused to join the more than 170 American companies, including Exxon and General Motors, that have closed their operations in that country because of its racial policies. But last week Mobil announced that it is also pulling out. The firm will sell its $400 million petroleum refining and marketing operations to General Mining Union Corp., a South African firm, for $155 million...
Written to "put pressure on" Mobil, the letteryielded no concrete response from the oil company,according to Morrell. Instead, the Mobil responseexplained that the company does not directly sellcrude oil to South African and cited South Africanand cited South African security laws whichprohibit disclosure of companies that do businesswith the apartheid regime's military...
Nonetheless, Radcliffe chose to retain itsholdings in Mobil, Morrell says, despite a policyof not holding stocks in companies which dobusiness with South Africa's police or military.It is unclear whether Harvard is currentlyinvested in Mobil, although it does not appear onthe list of the University's 50 largest holdingsas of June...
...Radcliffe's uneasy acceptance of Mobil'sSouth Africa policies underscores what Universityaffiliates concede is a difficult set ofinvestment decisions...
...Here's a company [Mobil] that's doingsome-thing really bad," says Ronald A. Goodman'60, an alumni member of the ACSR. Companies suchas Mobil force the University to ask, "'ShouldHarvard stay with a company to put pressure on itor should Harvard get out?'" according to Goodman...