Word: stockings
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Dates: during 1980-1989
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...they will be sure to discuss what has been the major issue in CCSR policy meeting--the debate over whether Harvard should divest of its $163.8 million of stock in companies with holdings in South Africa...
...finding ways of technically withdrawing from South Africa while still maintaining economic ties through licensing agreements and subsidiary holdings. And they add that this issue is shaping up as the next major sticking point for large-scale investors such as Harvard, which currently has over $2.1 billion in public stock holdings...
This issue is not a completely novel one forthe University's money managers, though. Forexample, Radcliffe College, which maintains itsown $80 million endowment and owns close to $1million in Mobil stock, wrote a letter to the oilcompany in May, 1988, questioning its policies,according to Morrell...
...ACSR, Liebman says, the two sides are"very close to even." But the two-member CCSR"votes together" to maintain the University'spolicy of selective divestment over the completesale of stock from South Africa-related companies...
What the Corporation has chosen to do is retainHarvard's selective divestment policy. Theofficial line on South Africa investments is thatHarvard will vote on proxy resolutions toencourage companies to divest, while refrainingselling stock in those companies should theyrefuse...