Word: texaco
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Records of the Corporation, the more powerful of the University's two governing boards, show that Harvard is an investor in Texaco...
...giant has come under fire from national civil rights groups recently for allegedly discriminatory personnel policies and racist comments made by several top executives. Late last week, Texaco agreed to a $176.1 million settlement of the claims, the largest such settlement in American history...
Marco B. Simons '97, a student activist, said the University's investment in Texaco is a serious issue. But, he said, Harvard needs to take time to review its investment. The University should send Texaco a letter of concern--an action taken by Harvard in similar cases in the past...
Earlier this year, the Corporation Committee reviewed Harvard's investment in Texaco, but for a different reason...
...Texaco officials were clearly rattled by the disclosure. The reported remarks "offend me deeply," Texaco chairman Peter I. Bijur declared in a videotaped message to all employees. " This alleged behavior violates our code of conduct, our core values and the law." The company launched its own investigation of the incident, and a federal grand jury will consider possible destruction of evidence. Such revelations would be embarrassing for any corporation that, like Texaco, claims to be an equal-opportunity employer. But for the giant oil company (1995 revenues: $36.8 billion), they were especially painful because they suggest that Texaco lacks...