ACSR Sidesteps Resolution About S. Korean Investments

The Advisory Committee on Shareholder Responsibility (ACSR) last night voted on eight shareholder resolutions from four companies and deferred on one asking a company to create its operations in South Korea.

The resolution to Motorola Company, which asked the company to pull out of South Korea, was too vague, George Dallas '56 an alumni member of the ACSR, said last night. He added that since there was no clear precedent, committee members wanted to learn more about various companies involvement in South Korea.

The ACSR voted in favor of two South African related resolutions, Nancy E. Kossan, the committee's secretary, said last night.

One resolution asked Texaco to stop its sales to one South African military and police and the other resolution called for Motorola to cease its sales to the South African government, Kossan added.

The committee divided on a resolution asking Exxon to stop its attempts to obtain a mining permit on land in Wisconsin in that Indians claim belongs to them.

Kossan said that the 3-3 vote, with four people abstaining, drew extensive discussion because of the unclear language of both the resolution and Exxon's response to the proposal.

Jonathan G. Cedarbaum '83, undergraduate member of the ACSR, said the committee continued to draft a statement to the corporation on its South African investments.

The statements will address "the issue of ethical constraints on decisions to invest in companies that operates in South Africa," Cedarbaum said, adding that the committee may vote on the statement next week.

Committee members agree with the principles of the statement but disagree with its wording, ACSR faculty member Noel McGinn, professor of Education, said last night.

McGinn said the committee members will meet an hour before next Tuesday's open meeting on Harvard's investment in companies that do business in South Africa to discuss the issue.

Kossan said 12 people are slated to speak at the meeting, which will take place in Piper Auditorium at Gund Hall (the Graduate School of Design) from 7-9 p.m.