Ten O'Clock News

[Bell] [Themba Vilakazi] 'Congratulations to the students, yeah, the alumni, the workers because their labor organizations and community groups that have been pressing Harvard to divest.' [Marcus Jones] 'Anti-apartheid activists say they're obviously pleased by the events of the past 24 hours. Both the Senate override of President Reagan's veto of new sanctions on South Africa and Harvard University's decision to divest almost one hundred sixty million dollars worth of stocks and bonds and companies doing business in that country.' [Student 1] 'It was predictable and I think the remaining two thirds of Harvard's investments will come. I mean this national movement is growing. I mean it's a bipartisan movement by now and there's just there's clearly no other option than to divest and to dis invest.' [Marcus Jones] 'This morning the Harvard yard student labor and community leaders gathered not to pat themselves on the back in triumph but to remind those opposed to apartheid that the struggle continues.' [Student 2] 'Our work is not yet done. Three hundred sixty million dollars of Harvard's endowment remains invested in apartheid, and our administrators still believe it is possible to invest responsibly in South

Africa. We, along with a majority of black South Africans, reject the claim that investment in South Africa can act as a progressive force.' [Man 1] 'We believe that the approach we're taking which is the more difficult one of on one dialogue to try to make our own judgments is more consistent with what we believe the people in South Africa in general would like.' [Marcus Jones] 'Harvard officials contend they made their divestment decision during the summer and it had nothing to do with student and alumni protest such as this one held last month during the University's 350th anniversary celebration. University Treasurer Roderick McDougall does admit, however, that student protests have had an impact on the university's conscience.' [Roderick McDougall] 'Of course Harvard is influenced and impacted by all the various constituencies who have a wide range of opinions on the subject. But to say we you know, this timing or this act is directly tied to any one movement would be incorrect.' [Woman 1] 'Their move today is probably the best proof that the protests are working, that what we're saying is being heard.' [Marcus Jones] 'During the next 12 months the university will sell off

holdings in five oil companies: Mobil, Texaco, Exxon, Chevron, and Royal Dutch Petroleum, a subsidiary of Shell Oil. They will also dispose of their holdings in the Ford Motor Company and interest in the Phelps Dodge mining Company and in an oil drilling firm. Even with the divestments the university will still have more than three hundred and sixty eight million dollars worth of investments in firms linked with South Africa. MacDougall says the school has no plans to fully divest, opting instead to continue its policy of selective divestment. Anti-apartheid activists say Harvard's divestment is not a major victory or a minor victory, just a victory one of several recently, but not enough. Next Thursday demonstrators will converge on the campus of Boston University, a prelude to a day of national protest that will be held Friday. For the 10 o'clock news, I'm Marcus Jones.'