Word: tutu
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Says Bishop Desmond Tutu, the winner of the 1984 Nobel Peace Prize. "Those who invest in South Africa should not think they are doing us a favor; they are here for what they get out of our cheap and abundant labor and they should know that they are buttressing one of the world's most vicious systems...
...Harvard's rationale unravels and Black South Africa, led by Bishop Tutu, demands total corporate disengagement, we no longer hear the early assertion that divestment would be wrong, simply that it would be "ineffective." The University which was going to single-handedly reform a racist, computerized police state from within (what happened?) all of a sudden does not have the power to influence the policy of business in its country...
Harvard argues that its policy for dealing with such investments is sound and ethical. The University requires its portfolio companies with South African operations to sign the Sullivan Principles and Tutu Principles, which call for reforms in the workplace and active opposition to apartheid laws to improve the status of Black South Africans...
...season and the process of intensive dialogue, through which Harvard tries to persuade ethically delinquent corporations to institute reform in South Africa, the University is guided primarily by the recommendations of the Sullivan Principles, developed by Black leader the Rev. Leon Sullivan, a director of General Motors, and the Tutu Principles, named for Black South African Bishop Desmond Tutu. Together, the Principles require the following...
...University, however, does not honor the Tutu Principles recommendation that shareholders impose time limits on the corporations in which they invest to adhere to the above reforms...