July 11, 1986 |
The Reagan administration is committed to using whatever influence it has to try to force the South African government to end apartheid laws, but remains staunchly opposed to legislation calling for divestiture, a State Department official says. The policy of the United States is aimed at promoting negotiations among major South African groups to solve the problem of minority white rule in the country, Chester Crocker, assistant secretary of state for African affairs, said yesterday.
July 13, 1988 |
The House passed a package of bills yesterday that would require extensive reviews of all state investments in companies that operate in South Africa and Northern Ireland to ensure that the firms do not discriminate. All five bills, sponsored by Rep. Thomas J. Murphy (D., Allegheny), initially focused on minority workers in Northern Ireland. Protestants outnumber Catholics by a 2-1 ratio in Northern Ireland. But Rep. David P. Richardson (D., Phila.), during the debate yesterday, amended two of Murphy's bills to include the same restrictions on investments in South Africa.
January 23, 1988 |
Until last month, Bell of Pennsylvania quietly allowed customers to order personalized phone numbers without charge. Now, looking for new revenues in the post-divestiture marketplace, it is charging for such vanities. What had been a free service available to those who happened to know of its existence is now a product called a Preferred Telephone Number (PTN). But Bell of Pennsylvania spokesmen said that the only things new about the product are its cost and the way some PTNs are listed in the phone book.
May 26, 2011 |
Without saying they approve or disapprove of such deals, the federal officials supervising the Synthes Inc. divestiture of its Norian subsidiary's assets have indicated - sort of - that Tuesday's $22 million sale to Exton-based Kensey Nash is acceptable. Synthes, the medical-device manufacturer near West Chester, had to shed its Norian assets as part of a plea bargain to settle criminal charges that it ran an illegal test market of the subsidiary's bone cement from 2002 to 2004.
April 20, 1986 |
The campaign to persuade corporate America to leave South Africa appears to be working. Nearly four dozen U.S. corporations have pulled out of South Africa in the last 18 months in the face of intensified investor opposition to that nation's policy of racial segregation. The exodus was joined last week by American Telephone & Telegraph Co., which bowed to the wishes of its stock-owning employees and announced plans to eliminate most of its direct business contacts with South Africa.
June 19, 1997 |
One letter begot another, but in the end it appears that the Rendell administration and City Council supporters of a bill to divest the city's pension fund of about $20 million in tobacco company stock are now in harmony. The first letter on Monday came from City Controller Jonathan Saidel and the four municipal union members of the pension board, urging Council to delay action on the bill, which is up for a final vote today. The second letter yesterday was sent by Finance Director Ben Hayllar, telling Council members the administration did not support the board's call for a delay and further study.
March 5, 1987 |
Despite their well-publicized plans to withdraw from South Africa, some of America's largest corporations are still barred from New Jersey's pension-fund investment portfolio under the state's tough 1985 divestiture law. Such companies as General Motors, Coca-Cola and General Electric, which announced or completed departures from South Africa last year, remain on the state's "target" list. That means pension-fund holdings in those corporations must be sold. According to the state's legal and investment advisers, these and similar U.S. companies, including IBM, appear to retain at least an indirect business presence in South Africa.
July 1, 2005 |
During negotiations that helped win approval for the 2000 merger that gave birth to Exelon Corp., Peco Energy Co. agreed to expand programs aimed at easing the utility-bill burden on the area's poorest families. One new program, begun in January 2004, was designed to serve up to 7,500 households in the toughest straits. So far it has enrolled 14. Overall, Peco has placed about 15,000 households in three new discount programs designed to accommodate up to 40,000 households with incomes below 50 percent of the federal poverty level - in other words, a family of two with income up to $6,415, or a family of four that takes in $9,675 or less.
March 25, 1989
TO INCREASE LEVERAGE, INVEST - AS IN S. AFRICA The City of Philadelphia can undertake a far more effective way of combatting racism in South Africa than supporting divestiture and boycotts. Divestiture and boycotts will reduce the city to powerlessness. It will put itself in a position where it cannot influence companies that do business with South Africa and cannot use them to pressure the government to change its policies. To the extent that the stock the city sells and the business it provides are taken up by others who either don't care or perhaps even actively support apartheid, the city will have made the situation worse.
June 18, 1987 |
ITT Corp. yesterday became the third major U.S. company this week to announce plans to withdraw from South Africa. ITT said it had sold its only wholly owned South African subsidiary, an automobile-brake maker, to Glasfin Investments Ltd., a South African company, for 10 million rand, or about $3 million at current exchange rates. ITT said the facility, Alfred Teves Engineering (S.A.) Ltd., has about 300 employees of whom "the great majority" are black. On Sunday, Ford Motor Co. said it would donate the bulk of its 42 percent interest in South African Motor Corp.