Stocks Listed in January Portfolio Violate College South Africa Policy
Stocks with low Sullivan Principles ratings listed in Wellesley College's portfolio violate the investment policy the college adopted in the fall of 1985, The Wellesley News reported.
The investment policy, which the college reaffirmed last year, states that all companies in which the school invested that do business in South Africa must be making progress toward full implementation of the Sullivan Principles.
Companies are rated by the Sullivan Principles according to the degree to which they adhere to desegregation, fair employment practices, and equal pay for equal work. According to Wellesley's present investment policy, no companies can have a rating on the low, "III" level.
But according to the student newspaper, the college in January held stock in Raytheon Corporation and the Goodyear Tire and Rubber Company, firms which both received III level Sullivan ratings.
Raytheon received a III level rating for its South African subsidiary, Rockplan Ltd, in a report released last December. Goodyear's rating slipped to the low level from a higher rating it had received last year, The Wellesley News reported.
Last April the college divested of more than $91,000 invested in the Ferro Corporation because of its III level rating. But since then, it has not divested of stock in any company because of a low Sullivan rating. UNIVERSITY OF MICHIGAN
School Radio Station Shut After Airing Racist Jokes
Administrators at the University of Michigan have closed down campus radio station WJJX following student protest of a broadcast containing a series of racist and sexist jokes.
The student disc jockey, who was fired from his job before the shut-down, reportedly had two people phone in the racial slurs to his weekly program, The Michigan Daily reported.
The jokes included: "Who are the two most famous black women in history?....Aunt Jemima and motherfucker," and "Why do Black people small?....so blind people can hate them, too."
Students who heard the show prepared a statement protesting the program and played a tape of the show for the university's highest ranking Black administrator, the campus daily reported.
"I think there's no excuse for this type of behavior. There's no such thing as a big joke in this situation," the official said after shutting down WJJX. PRINCETON
More Women Than Ever Apply
A record number of women have applied to Princeton's class of 1991 in the university's third-largest applicant pool ever.