Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 22]

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BOARD OF TRUSTEES

[July 10

not be interpreted as implying that it would be in error to divest; and finally, a comment from Trustee Forsyth who expressed his support for the general idea, although he opposed the idea of communications with corporations as prescribed in Section II, no. 4. In illustrating his view, Mr. Forsyth read a hypothetical letter that might be sent from a corporate executive in response to the Board of Trustees' action. The "letter" is as follows:

Dear Board of Trustees: Thank you for your recent letter on the conditions in South Africa. Our corporation continues to deplore apartheid as we have stated in our three previous letters to your board. The oppressive government of South Africa has caused us grave concern. O u r Si of 1 percent holdings in that country has given many minorities employment, and, we believe, a chance to better their present condition. O u r Board of Directors has asked if your University has sent similar letters to corporations which do business in the Philippines, South America, Mexico, the USSR, and others which display the same percentage of holdings in these governments that are either oppressive or on the verge of default. As elected leaders of our state university, we are sure you are all aware of the oppressive business climate in Illinois. T h e laws of Illinois have caused our corporation to lose many dollars. Your fine board members, all close associates of our elected leadership in Springfield, can certainly work to bring about changes in these oppressive laws. Because your institution provides outstanding young talent as evidenced by your graduates, we have more University of Illinois grads working for us than any other single institution. Our plants in Belvidere, Decatur, Peoria, and Chicago have provided employment for over 25,000 citizens of our State. However, it is unfortunate that the oppressive business climate has caused us to seriously reconsider our continued existence in the State of Illinois. We have looked to the south where many excellent schools provide exceptional talent; state laws are more favorable to employers; and where, in some cases, the living conditions are better. We would certainly look forward to working with the new schools and their foundations to better our corporation, which would, as you know, make your stock holdings that much more valuable. Yet, we wonder if the loss of tax dollars which we have been paying, and which all of our employees have been paying, would not cause the State of Illinois too much of a financial hardship. May we count on your board and excellent University leadership to help us, to help you, by calling on State government to bring about changes conducive to a more favorable corporation climate in Illinois? A number of our board members asked me, at our last meeting, if you would be willing to comment about the recent television protest that occurred on your campus. Have you indeed allowed your students to take over the Illini Union, as well as the beautiful quadrangle? As a result, these board members question our corporate contribution to institutions such as yours that appear to have abdicated to a small minority. Any guidance on such issues which you can give me for our stockholders would be appreciated on this subject. Again, thank you for your copy of the recent resolution by the University. Your continued interest in our corporation is always appreciated. Sincerely, Chief Executive Officer

Mr. Logan read a letter received from the new student trustee from Chicago, Mr. Starkeson, who believed that the University should begin