Word: portfolios
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Dates: during 1970-1979
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...would be the best thing for the University if it were out of its legal power to divest," Schelling said, adding, "There is nobody at the University who wants to deal with the portfolio...
Like Harvard's Advisory Committee on Shareholder Responsibility, the Radcliffe group will examine and recommend vote on proxy statements the college receives from corporations in its $20 million common stock investment portfolio...
...Harvard to divest ($300 million, or about 30%, of its portfolio involves companies with business connections in South Africa), Bok said there would have to be proof that the action would help overcome apartheid, persuade American firms to leave South Africa, and offer more encouragement to black workers than the alternative policy of pressing companies at stockholder meetings to improve treatment of black workers. "Harvard has declared its opposition to the South African regime," said Bok, "and has pledged itself to vote on shareholder resolutions in the manner best calculated to overcome apartheid." Calling this course "the most ethically responsible...
...March 24, 1978, the ACSR outlined several basic propositions that had emerged from its discussions throughout the preceding winter. Acknowledging that both the University and corporations have "responsibilities of citizenship" that may supercede economic considerations, the ACSR stated, "When the policies of actions of a company in the Harvard portfolio are not consonant with good citizenship, the University has an obligation to advocate that such policies and actions be changed...
With divestiture essentially ruled out as a way to change corporate policy, the ACSR turned to the question of how to vote shares in Harvard's portfolio, specifically on resolutions calling for the withdrawal of corporations from South Africa. Unable to reach a consensus, the committee recommended evaluating the question of withdrawal on a company-by-company basis...