Word: tobacco
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...White Sox and three in Oakland, La Russa has grown increasingly sensitive to the nagging charge of being an attorney-at-law. Branch Rickey and Miller Huggins were good baseball men and members of the bar, but the A's skipper has had trouble finding comfortable acceptance among his tobacco-splattered peers. In his THE BALLET SCHOOL T shirt, under his NO CIGAR SMOKING PLEASE sign, La Russa sometimes yearns to be a little more like Lasorda, who sometimes yearns to be a little less like Lou Costello. One playing chess and the other checkers: it could be a surprising...
...responsibility of the individual governments to require the companies to warn people of the possible health hazards of smoking. That may be true, but why are we so quick to absolve these companies from any responsibility for the effects of their own products, and why do tobacco companies seem so unwilling to take...
...absence of any sense of responsibility in the tobacco companies prompted the Advisory Committee on Shareholder Responsibility (ACSR), a panel of faculty, students and administrators which advises the Corporation on ethical investing, to recommend to the CCSR that Harvard divest from these companies. Ironically, the ACSR also once recommended that Harvard divest from its holdings in South African-related companies. This was advice which the University, which retains about $200 million in such stock, has largely disregarded-much to its discredit...
...question of hypocrisy in holding tobacco stocks comes up when one considers that numerous researchers and professors at the Medical School and School of Public Health have not only come out against smoking but continue to research the health hazards it causes and search for cures. Harvard even has an American Cancer Society professorship, funded by an organization that spends a great deal of time convincing others not to smoke...
...University's past record on stockholder activism should not stop us from encouraging Harvard to take action against the tobacco companies. In keeping with its stated investment policy, Harvard first should negotiate with the companies as a preferred stockholder, urging them to change their practices and threatening divestment if the companies resist. Universities, such as Harvard, which aspire to inculcating a sense of ethics in their students, must back up their words with actions...