Word: stockely
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Dates: during 1970-1979
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...picketed the trustees. So did students at Brandeis. At Columbia they staged guerrilla theater protest shows; at Yale, angry students confronted the university's governing corporation. As they have for years, demonstrators here and there around the U.S. were demanding that their colleges sell all stock in South Africa-related industry. Their charge: the $1.75 billion (17% of South Africa's foreign capital) invested by 350 U.S. companies in the apartheid nation and the actual presence of Americans doing business there amount to indirect support of racism...
...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 the Sullivan principles, a set of guidelines established by the Rev. Leon Sullivan, a black civil rights activist and General Motors board member, which outline affirmative-action policies. Among them: Amherst ($1 million), Smith ($680,000), Columbia ($2.7 million), Boston University...
...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. Nor would anyone pretend that a Harvard boycott of the Nestle Corporation would force Nestle to stop selling its deadly products to mothers in the Third World. It is not Harvard's moral obligation to end apartheid or save the people victimized by Nestle; it is Harvard...
...obvious--that the South African government's policy of apartheid is abhorrent--and feigns a deep concern about American corporate support of the South African status quo. At the same time, however, it advises Harvard to do as little as possible to pressure companies in which the University owns stock to reform their employment policies, and less to withdraw from the country entirely...
...divest of its South Africa-related investments, and many spoke out against University policy at a Faculty meeting. Kenneth J. Arrow, departing Conant University Professor, said in a letter to the Faculty Council that the Advisory Committee on Shareholder Responsibility (ACSR) last year overestimated the cost of divestiture of stock in companies doing business in South Africa. The ACSR said the costs of divestiture would range from $4.7 million to $16.7 million, while Arrow said "the low estimate of $4.7 million seems too high."11CrimsonChris DammFormer Institute of Politics fellow IRA EINHORN was arrested in Philadelphia in March and charged...