3
The Tar HeelThursday, June 5, 19867
DifSt from page. 1
The University has previously
divested about $1.5 million from
companies that have not signed the
Sullivan Principles. The principles, a
voluntary code of conduct for cor
porations in South Africa, were
originated by the Rev. Leon Sullivan
in 1979 and require the corporations"
to provide equal pay, equal oppor
tunity and racial integration for
blacks. The University has ,
$11,237,010 invested in 37 Sullivan
signatory companies that do business
in South Africa.
CBS' holdings in South Africa
before it withdrew amounted to a
small record company called Gram
ophone Records that employed
about 50 people. Its performance in
adhering to the Sullivan Principles
was always satisfactory, Kiermaier
said.
At the meeting Friday, the endow
ment board consolidated its three
previous policies on investing in
companies in South Africa into one
statement. These three policies
include investing in only companies
that follow the Sullivan Principles
a decision made by the board in 1983
and divesting of all holdings in
companies doing "direct and exten
sive business with the government of
South Africa," a decision the board
made in Feburary. Currently, no
companies UNC invests in do "direct
and extensive" business with the
government of South Africa.
In April, the board rejected total
divestment and chose instead to
implement a 10-part policy used by
Harvard University. The new policy
urges corporations in the UNC
investment portfolio that do business
in South Africa to publicly express
opposition to apartheid, and states
the endowment board will "call for
a withdrawal from a company from
South Africa if the company's pres
ence clearly does more to strengthen
apartheid than to weaken it." The
policy also states that UNC will not
invest in any banks which make loans
to the South African government.
Police
from page 3
complaints of sex discrimination
during her years on the force before
becoming chief. A movie of her life
is in the works and last year she was
named one of Ms. magazine's women
of the year.
Bogle said Deputy Chief Bob
Tobin would be interim chief. "For
all intents and purposes, he's running
the bureau now," he said.
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