Word: pension
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...time the movement has responded, the Corporation has backed down and the ACSR has moved closer to advocating divestiture. Last year the ACSR split on a straightforward vote on divestiture, 5-6-1 against it. The Harvard divestiture movement has inspired successful and profitable divestments by Cambridge and Massachusetts pension funds, and by universities like Michigan State, which reported that through divestment it made over $2 million. Finally, each time the divestiture movement and the Corporation lock horns, the world listens, and white South Africa listens...
...Sullivan Principles has intensified this long-standing debate. The Arthur D. Little Co., a Cambridge consulting firm, compiles a yearly survey on the compliance of companies who have signed the principles. The main tenets of the principles include: making sure all workplace areas are desegregated; providing medical, pension, and insurance plans for all employees; providing equal pay for equal work; contributing money for community development and training nonwhite workers for management-level positions...
...feel the principles have given some help in the overall situation in South Africa," says Allen M. Mayes, an official with the General Board of Pensions for the United Methodist Church. The Board of Pensions supervises investment of $1.3 billion in Methodist pension funds. Mayes, the secretary of the church's Committee on Corporate and Fiduciary Responsibility, ensures that investments match the ethical principles of the church. "They are the best tool we have [to promote reform]; they are the only tools we have," he says...
...gave you wrong information, which led to an inaccuracy in the story "The Billion-Dollar Boys" [Jan. 9]. I told your reporter that the Monsanto pension fund had terminated Alliance Capital as an investment manager after only a very short period of poor investment performance. That is not true. Rather, we managed funds of Monsanto from 1968 to 1973 and created a poor longer-term record of investment results. I wish this were not so, but I am afraid...
...contract also significantly alters the workers' pension plan, Nigro said...