Letter to President Corbally of the University of Illinois at Champaign-Urbana. The letter says actions taken by the administration and reported to the Finance Committee of the Board of Trustees on April 20, 1979 appear to violate the Board policy adopted in March. In three cases the university has rejected shareholder proposals that appear to have been mandated by Board policy. Sec. D-2 of the policy appears to say that the university will support shareholder proposals which facilitate the monitoring of the Sullivan Principles. Since all three stockholder proposals rejected by the university sought information on corporate activity in South Africa which would facilitate monitoring of the...
Letter to President Corbally of the University of Illinois at Champaign-Urbana. The letter says actions taken by the administration and reported to the Finance Committee of the Board of Trustees on April 20, 1979 appear to violate the Board policy adopted in March. In three cases the university has rejected shareholder proposals that appear to have been mandated by Board policy. Sec. D-2 of the policy appears to say that the university will support shareholder proposals which facilitate the monitoring of the Sullivan Principles. Since all three stockholder proposals rejected by the university sought information on corporate activity in South Africa which would facilitate monitoring of the implementation of the Sullivan Principles, administration action appears to violate Board policy. The letter discusses shareholder resolutions at Caterpillar Tractor Company, Citicorp and J.P. Morgan and Company. [Note: Although this version of the letter is not signed (presumably the version sent was signed) it was written by Dean E. McHenry, Jr., Department of Political Science, University of Illinois at Champaign-Urbana and concerns the university's investments in companies doing business in South Africa.]
