Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 21]

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1986]

UNIVERSITY OF ILLINOIS

11

It is our prayer that all of the people of South Africa learn the lesson that men can and must live together in peace. It is this lesson that gives us hope that in the end reason and justice, though battered and bruised, must and will eventually prevail. II The board directs that this resolution be sent to: 1. 2. 3. 4. President of the United States; Illinois Congressional delegation; President of the Republic of South Africa; and Those corporations doing business in South Africa whose stock we own.

In addition we wish the letters to the corporations to include the following language: Since the summer of 1985, the University has followed the following policy relating to investments in stock or debt obligations of companies doing business in South Africa: The University will invest in companies, employing more than 25 employees, that do business in South Africa only if those companies have attained one of the top two rating categories of the Sullivan Principles or comparable standards of performance. The University will not invest in a company that has 10 percent or more of its gross sales coming from South Africa. The University will support shareholder petitions which call for the furnishing of information regarding corporate activities in South Africa and the termination of sales to the South African military or police. As an investor in your corporation, the University is interested in determining whether the recent violence and state of emergency in South Africa has changed your company's position about remaining in that country. D o you believe U.S. companies continue to be a positive force for the peaceful dismantling of the apartheid system, or are circumstances such that continued American corporate involvement cannot alter the fundamental structure of the social/political ideals of that nation? In addition, it would be helpful to have your assessment as to the business risk assumed by your corporation given the escalating violence and expanded levels of government control. The University believes that it has followed a consistent policy relating to investment in companies that do business in South Africa. This policy is based on the belief that these corporations contribute to the social welfare of blacks and coloreds in that country and, by example in their corporate practices, will assist in the fall of apartheid. The recent violence and state of emergency in South Africa have caused us grave concern, and we are interested in your thoughts and comments on the situation.

In the discussion of the resolution, individual trustees made a number of points: that the special emphasis on academic freedom was a principle particularly appropriate for the University to defend and enunciate; that the statement did not represent a fundamental change in the present policy of the Board of Trustees; but, at least in the opinion of some, the message to be sent was at least as strong as one of divestiture might be; to others, though useful, the resolution was insufficiently strong and should