June 28, 2016 |
New Jersey is about to boycott a boycott movement against Israel. Lawmakers on Monday are expected to pass legislation that would prohibit the state Treasury Department from investing public employee pension funds in companies that boycott Israel as part of the so-called "boycott, divestment, and sanctions" movement. It would join about a dozen other states that have taken similar action, most recently New York, where Gov. Andrew Cuomo this month signed an executive order requiring divestment of public funds from companies that have engaged in the BDS campaign against Israel.
February 26, 2016 |
Swarthmore College, the epicenter of student protest last year over investment in fossil fuels, has budgeted $300,000 as part of an ongoing commitment to improve energy conservation on campus. The college's board of managers, at its meeting last weekend, approved the expenditure as part of a $160 million budget. Swarthmore drew national attention last spring when students staged a 32-day sit-in to try to persuade the board to divest fossil fuels from its endowment portfolio. The board voted last May not to divest any of its $1.9 billion endowment, citing investment guidelines that call for "the endowment to yield the best long-term financial results, rather than to pursue other social objectives.
May 29, 2015 |
TRENTON - New Jersey is considering divesting public workers' pension funds from a private-equity fund that owns a payday lending firm that was fined $10 million last year by a federal agency for using illegal debt-collection tactics. The board that oversees management of the state's $80 billion pension system on Wednesday directed the Treasury Department to ask the private-equity firm, New York-based JLL Partners, to divest from Texas-based ACE Cash Express Inc. If JLL declines, the board said during a regular meeting, the state will consider selling its JLL stake.
May 4, 2015 |
A dozen Swarthmore College students waited Saturday morning in the quiet hallway of Kohlberg Hall. Some held hands. Two wore T-shirts emblazoned with an equation: WE > FOSSIL FUEL . The school's trustees, one by one, left a meeting and walked past without an announcement. Four hours later, in an e-mail to the campus, college officials said the school would not divest its endowment money of fossil fuels despite a 32-day student sit-in and faculty support for the protesters' demands.
April 22, 2015 |
A 32-day student sit-in at Swarthmore College ended Monday after faculty voted to support the protesters' demands to divest endowment money out of fossil fuels. "We are ending after a commitment by the Board of Managers to engage us in the weeks leading up to their decision on divestment on May 1 and 2," said sophomore Stephen O'Hanlon, an organizer with Swarthmore Mountain Justice, the student group that has pushed for divestment for the last five years. An alumni petition with 1,100 signatures bolstered their demands.
January 13, 2015 |
Surrounded by vintage milkshake machines, waffle irons, Pyrex bowls, percolators, toasters, refrigerators, pizzelle makers, blenders, radios, clocks, electric fry pans, colanders, sifters, pots, lids, aluminum ice cube trays, and 6,000 to 8,000 Life magazines, among other things, Rich Boris had a candid explanation for the origin four years ago of his Kitch-n Collectibles shop in Roxborough. "It's called hoarding," he said with a laugh. That, combined with this practical thought as Boris, a retired Philadelphia firefighter, headed into his 60s: "Once you're old enough to start collecting Social Security, you have to start selling stuff.
June 22, 2014 |
A proposal for the University of Pennsylvania to divest its $7.7 billion endowment from tobacco stocks died Friday without a vote by the board of trustees. Board chairman David L. Cohen said tobacco does not qualify as a "moral evil" - a criterion for divestment under Penn's policy - even though it causes serious health problems. "Let me be clear," Cohen said on the floor of the trustees meeting on campus Friday, "I am no friend of tobacco. I don't use tobacco products. I've never used tobacco products.
June 21, 2014 |
Few would argue that tobacco has any redeeming qualities, but is it a "moral evil"? That's the question members of the University of Pennsylvania's board of trustees likely will grapple with Friday when they consider a proposal to prohibit the investment of university endowment funds in tobacco products. The discussion follows an open letter signed by 530 senior Penn faculty members, urging divestment from tobacco companies, and a 17-page proposal authored by Penn professors and several others.
December 15, 2013 |
Jewish students at Swarthmore College have become the first in the nation to break with the global student association Hillel and agree to open their doors to groups and speakers who do not support Israel. The Swarthmore student board unanimously voted to renounce Hillel International's restrictions, which bar chapters from sponsoring events, hosting speakers, or partnering with groups that oppose Israel's right to exist or support a movement for universities to end investments in Israel because of its policies toward the Palestinians.