The press release says the State House of Representatives today approved legislation that prohibits educational institutions from investing in the country of South Africa; the proposal would require public universities and community colleges to sell all holdings in corporations that operate in South Africa. The press release says during the past several months, six more universities in the United States have acted to divest well over $80 million in stock and deposits in corporations and banks doing business with racist South Africa; at present, 17 states, 14 cities, and 40 educational institutions have introduced or passed divestment legislation. The press release says the United States is...
The press release says the State House of Representatives today approved legislation that prohibits educational institutions from investing in the country of South Africa; the proposal would require public universities and community colleges to sell all holdings in corporations that operate in South Africa. The press release says during the past several months, six more universities in the United States have acted to divest well over $80 million in stock and deposits in corporations and banks doing business with racist South Africa; at present, 17 states, 14 cities, and 40 educational institutions have introduced or passed divestment legislation. The press release says the United States is the second largest investor in South Africa, and the supplier of almost one-third of its overseas loans; about 539 U.S. companies operate in South Africa, with an aggregate direct investment of more than 1.7 billion dollars. The press release discusses legal segregation, Harvard, Eastern Michigan University, the University of California, the African National Congress (ANC), divestment, the National Council of Churches, the N.A.A.C.P. (NAACP), labor organizations, withdraw of investments from South Africa, the American Friends Service Committee (AFSC), Churchwomen United, the Women's International League for Peace and Freedom, the Coalition for Peace and Justice, the Catholic Diocese of Lansing, the Washtenaw County Coalition Against Apartheid, the Michigan Coalition Against Apartheid, motor vehicles, heavy engineering, electronics, and computers. The press release says for further information contact Barbara Eldersveld or
Dan Sharp.
