Word: divesting
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Dates: during 1980-1989
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...pivotal year for Harvard investment policy. It was President Bok's first full year in office and student protest was growing over investments. In April, two dozen Black students took over Massachusetts Hall for a week, demanding the Harvard divest from Gulf, which they said was using its wealth and influence to prop up the colonial government in Angola...
...open forum" at the Science Center-organized by the Institute of Politics-was designed specifically to examine whether Harvard should divest from companies that produce or help produce nuclear arms...
...statement the ACSR approved last night said in part. "While the ACSR appreciates the ethical dilemma in which the current automatic divestiture policy could conceivably place the Corporation, the ACSR reaffirms the policy it recommended in 1978 to divest automatically the debt securities of banks which make loans to the South African government...
...Corporation first moved to retract this concession after being forced to divest $50 million in Citibank debt securities following the announcement of the bank's participation in a consortium loan to South Africa in September 1980. Much to the Corporation's dismay, Harvard's commendable action received unexpectedly widespread press coverage and proved highly embarrassing to Citibank and the South African regime. Soon after, Citibank dispatched a representative to consult with the Corporation and lobby University officials to relax their present policy. The Corporation responded by applying pressure on the ACSR to approve the repeal of the 1978 concession...
...January meeting with a homily on the evils of apartheid and the great weight he placed on ethical criteria in investment policy. Then, almost as a casual afterthought, he asked the ACSR to rectify a "minor flaw" in the University's current bank policy which would force it to divest from banks trying to make "good loans" to the South African government. He gave as an example the Citibank loan which he claimed South African Blacks actually solicited...