RESPONSE TO STAFF REPORT ON OAKLAND'S PROPOSED DIVESTMENT ORDINANCE
by Africa Resource Center
Oakland, California, United States
July 7, 1985
Contents: Section I. Definitions • Section II. Deposit and Investment of City Funds in Banks and Financial Institutions • Section III. Investment of City Funds • Section IV. Use of Professional Service Firms • Section V. Selective Purchase of Commodities • Section VI. Oversight • The report says Africa Resource Center staff spent two weeks talking with people involved in implementing divestment laws to learn from the experience of other cities of similar size to Oakland and states with laws comparable to the proposed Oakland divestment ordinance. The report challenges some recommendations and conclusions made in the staff report. It discusses type of laws, costs of abiding by their ordinances and investment restrictions, Sears Savings and Loan, Dean Witter Reynolds, Merrill Lynch, E.F. Hutton, Working Assets, divestment, South Africa free firms, Wilson Riles, Jr., contracts awarded by the City Council, South African military, police, prisons, short-term investments, and the Ministry of Cooperation and Development.
Used by permission of Milton Clarke and Walter Turner, former members of the Africa Resource Center.
Collection: Miloanne Hecathorn papers