College's investment ethics questioned

College's investment ethics questioned

The article points out the discrepancies between Middlebury College's official investment policy and its actual actions. The College had not committed to investing only in signatory companies and is ambiguous toward its plans of divestment from "those companies which fail to implement Sullivan-type improvements in their South African subsidiaries." Apparently, in 1981, the faculty voted in favor of "divesting the College's shares in all American companies in South Africa" that do not comply with the Sullivan Principles. That said, this is not the official policy of the College. Apparently, the College had over $10 million invested in 31 American companies which had operations in South Africa, representing about 20% of the College's 1981 Securities Portfolio. While the board of trustees has announced three times that they plan to investigate the College's South African investments and their compliance with the Sullivan Principles, such findings have never been made public.

Volume 80, Number 8

Bruce Armstrong

The Campus

11/16/1984

Bruce Armstrong

"SULLIVAN PRINCIPLES (according to the article)

1. Non Segregation of the races in all eating, comfort, locker rooms, and work facilities
2.. Equal/fair employment practices
3. Equal pay
4. Initiation and development of training programs that will prepare POC for supervisory, administrative, clerical, and technical jobs
5. Increasing the number of POC in management/supervisory positions
6. Improving the quality of employees' lives outside of the work environment"