Word: staking
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...Harvard has maintained its stake in Sinopec since its last SEC filing on Dec. 31, its holdings would have been worth $236,700 at the close of trading yesterday...
...Monday, the Harvard Corporation Commitee on Shareholder Responsibility (CCSR) announced the University would sell its stake in PetroChina, an off-shoot of the China National Petroleum Corp. (CNPC), which has spent more than $1 billion developing Sudan’s oil resources. According to the CCSR’s statement, “substantial revenue from Sudan’s oil production has gone toward the purchase of weapons.” The Sudanese government has armed the Janjaweed militiamen who have slaughtered tens of thousands of villagers in the western region of Darfur...
While wiping its hands yesterday of a largely symbolic stake in PetroChina, the University also sought to ensure the decision would not set a precedent for future divestment campaigns...
...CCSR has instructed the Harvard Management Company, which oversees the University’s $22.6 billion endowment, to sell its PetroChina stake, according to University spokesman John Longbrake. Longbrake could not provide a timetable for when the sales would occur...
...University found something that it probably doesn’t have much of a stake in or that it’s ready to sell anyway for its own reasons and has ignored many, many other cases in the past which are on the face of it probably worse,” Womack said...