Trustees Change Policy on Divestment
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TRINITY COLLEGE • HARTFORD • CONNECTICUT Vol. LXXXIV, Issue 21 April 15, 1986 APR 151986 THE kRTFORD, CONR. Trustees Change Policy on Divestment by Mary K. Bray leave. Robert Pedimonti, Vice costs." The recent policy established by similiar positions regarding their Staff Writer President for Finance and Treas- Trinity has been active in provid- the trustees states that we will investments in U.S. companies. urer said he thought Trinity was ing funds for the relief of refugees, continue our efforts to end the Regarding the efforts of the Sul- doing the right thing by support- for financing black students in massive presence of security forces livan companies to fight apartheid, Trinity College Trustees voted ing the fight against apartheid. In white South African universities, in black areas, free political pris- President James English was unanimously on March 22 to end fact, he stated his concern in dis- and for black students to come to oners, repeal the "pass laws", and quoted recently as saying, "We all investments with American sociating the College from any in- Trinity. During Bishop Tutu's visit begin negotiations with black lead- continue to applaud the corpora- companies doing business in South volvement there. to Hartford in Hartford, Trinity's ership in recognizing the rights of tions working there to change Africa if steps are not taken by Pedimonti explained that Trinity efforts were given widespread all South Africans. Pedimonti said things. The concern is that the May 1987 toward elimination of frequently examines its position publicity and support. that other colleges are adopting change is slow." apartheid. with respect to its holdings in all The present policy of Trinity is of the companies presently in the an expansion of the policy adopted portfolio; three of these companies in October 1985. The College's po- being IBM, 3M and General Elec- Trustees Issue Official Statement sition at that time called for se- tric. He stressed that we do keep The following statement pertain- apartheid committee would like to Desmond Tutu to Hartford in Jan- lected divestment of its shares in pressure on the companies, inquir- ing to the issue of divestment was thank the faculty of the College for uary. U.S. companies that did not ad- ing as to what steps are being presented by the Trustees of Trin- their overwhelming support for di- Our October position initiated an here to the Sullivan Principles in taken to promote the peaceful al- ity College at their meeting on vestment. The combination of their educational program within the affecting political change in South ternation of the system of discrim- March 22,1986. The statement pro- efforts as well as our own was the College on issues with respect to Africa. As of March 31, 1986, the ination against South Africans. vides for Trinity College to divest motivating factor in precipitating South Africa, one which was cli- College has divested itself of six Despite the little meaningful its holdings in companies who deal this important decision made by the maxed by the visit of Bishop Tutu holdings with a market value of 2.5 change that has occurred, "many in South Africa if by May 1987 Trustees of Trinity College: and the awarding of an honorary million dollars. Trinity still has in- companies over there are doing "steps have not been taken... to end A Report to the Trustees of degree to him. In the degree cita- vestments valued at approxi- alot of good things," he pointed the massive presence of security Trinity College on Policies with tion, Trinity College hailed him as mately 15 million dollars in out. forces in black areas, free political Respect to South Africa March one who has "shown us the non- companies with holdings in South Other implications steer Trinity prisoners, repeal the pass laws and 1986: violent road to justice, peace, and America, marking 15.4% of the from total divestment. Said Pedi- begin substantive conversations The present policy of Trinity recognition," whose "efforts on 97.5 million dollar endowment. monti, "The College could easily with black leadership directed to- College was hammered out and ap- behalf of the black South African The present question is whether be subjected to a more volatile wards the full participation of all proved at the October 1985 meet- refugees and students have sus- Trinity and other peer colleges will portfolio. An endowment that South Africans." hi other words ing of the Trustees. It voiced our tained their hope for a peaceful and facilitate the South Africa situa- eliminates blue chip stocks from Trinity College will divest if abhorrence of the aparthied sys- just future." If his acceptance of tion by continuing financial sup- its portfolio would heighten invest- apartheid has not been abolished tem. It called on the College to this degree may be seen as honor- port or whether more will be ment risk, reduce portfolio diver- within approximately one year. provide money for relief of refu- ing the College, so also it should gained if American companies sification, and increase research Furtiiermore we of the Anti- gees, for financing black students, be accepted as a commitment by both refugees and resident South Trinity to the cause he represents. Africans, to come to Trinity. This Our policy further called for se- effort was given widespread pub- lective divestment of shares in U.S. Bravo Attacks licity and support, both within the companies with investments in Aid College and in the larger commu- by John Woodlock Senior Staff' Writer Sandinista, Alejandro Bravo, conducted his lecture, "Nicaragua: The View from Inside," before a by Chip Rhodes '• it'into sorriething* barely recognize^ capacity crowd in the Wean Features Editor able. Outside I noticed the same Lounge Thursday. Bravo, who is a tasteful, unpretentious brick de- poet, lawyer, and member of the sign. Understated, yet distinctive. National Assembly, is visiting the I recently set out on in search of United States to study the Consti- my lost innocence^ I had woken up Inside, the familiar hallowed tution. He spoke about the history two nights in a row in a cold sweat,; halls were teeming with, memories of Nicaraguan revolutionary liter- worrying about rising interest of careless adolescence, ; ature and about the current con- rates and unpredictable property I visited the very spot .where Pat ditions in his country. : taxes. The implications of this McSweeney inadvertently broke "Nicaraguan literature," said frightened me so badly that I re- my nose with his Pre-Algebra text- Bravo, "was born with the great solved to "find my: roots" before it book. I saw the locker that I stood poet, Ruben Dario." too late. •'•• • " • ".'-••: ' iii front of when Flora McBride brokeup with me because she felt Bravo noted that Dario saw "the : agression of United States impe- My odyssey began at Medway Jr. Twas "Using her." I even peaked: rialism as a danger to the inde- Si\ High School) the setting for my into |fte classrooin where I thfew pendence of Latin American Photo by Meryl Levin corning of age. The school looked up on Joanrie Paulette's angola countries." Thus, Dario's works Alejandro Bravo, Sandinistan poet and member of the National ...the same. Remarkable. You'd think sweater., Aaah, to be young again! the wear jtnd tear of 3 long years began the revolutionary literature Assembly, spoke Thursday to a capacity crowd in the Wean Lounge. of Nicaragua. would have radically transformed-, Many critics thought that Nicar- aguan literature would end with Dario's death, but it didn't. It con- tinued, Bravo believes, because "people who write poetry and lit- Tuition Raised to Over $ 14,000 Level erature have a commitment to the library's, and "major renova- write for the people who are fight- by Sean Dougherty ranking of our comparison with Computer service for the library. other colleges." ($50,000) The cost for this system tion and capital improvements •" ing for their own destiny." He then Staff Writer cited several examples of poets While most students will pay is being shared by all the consor- The administration sees all these from both sides of the political more next semester, some will pay tium schools (Trinity, Wesleyan changes as necessary for the im- fence. The administration has an- less as the budget includes a 14.5% and Connecticut College) Also provement of life and academics at Presently at war and suffering nounced that "in order to close the increase in financial aid. Financial listed were $250,000 worth of Trinity and they "tried to balance from a six billion dollar debt, "Nic- gap with a few of our competitors aid continues to bbe the fastest "Planning Initiatives- Instruc- priorities and initiatives to allow aragua is in the most terrible mo- among the other high quality insti- growing part of Trinity's budget. tion", and "Acute Deferred Main- the faculty and administration the ments of its history." But Bravo tutions" that tuition will be raised Items that are new to the 86-87 tenance", whatever they are. greatest opportunity to provide feels his country is moving for- $1,180 beginning with the 1986-87 budget are the new "Mentor Sys- The budgets for science and Trinity students with the finest lib- ward. Since the beginning of the lTlGStCF tem", ($70,000) and Automated computers wilt be rising, as will eral arts education possible." revolution, Nicaraguan illiteracy In his "Review of the 1986-87 has decreased from 50% to only Budget", Business Manager Alan Changes in Fees for 1986-87 Academic Year: 12% of the population. "Many of R. Sauer was quick to add that this these people continue learning," seemingly large rise in prices was said Bravo," and we now have much lower than some other insti- 1986-87 1985-86 $ Increase % Increase 36,000 students in higher educa- tution are asking.