Word: withdrawal
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...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 littlehas possible to pressure companies in which the University owns stock to reform their employment policies, and less to withdraw from the country entirely...
...Michael Spence, professor of Economics and chairman of the ASCR, admitted at the Faculty meeting before spring break that initiating shareholder resolutions can be an effective way to pressure corporations to withdraw from South Africa. But the ACSR shrinks from even this tame action. Instead, Harvard will adopt a reactive stance with regard to shareholder resolutions, voting on those introduced by others, but refusing to initiate its own. Tuesday, the ACSR voted to support a resolution calling on the Timkin Corporation to withdraw from South Africa because it had not provided the University with enough information to judge the company...
This year the Corporation will consider resolutions asking Philips Petroleum and the 3M company to withdraw their operations from South Africa, a resolution asking Kodak to stop sales of certain kinds of photographic equipment to the South African government, a resolution calling on Exxon not to expand its South African operations, a resolution calling on Bristol Meyers to change its Third World infant formula marketing practices, resolutions prohibiting ex-government officials from taking jobs with General Electric and several other companies, and resolutions on redlining, political contributions, and journalistic practices...
Brian W. Bell, the finance officer for the holding company of the Rainier Corporation, said yesterday, "We only have two very small loans in South Africa." He added that the corporation did not plan to withdraw these loans or increase its loans to South Africa in the near future...
...After convincing the U.N. that it should withdraw its force from the Sinai, Egypt blockades the Gulf of Aqaba, closing a key Israeli shipping route, and moves its troops to the Israeli border...