Occupying the Conversation

In today’s Harvard Crimson, the paper published a lengthy editorial called “Rethinking Reinvestment: The Harvard Management Company should reevaluate its relationship with HEI.” From the piece:

In light of the controversy surrounding HEI’s treatment of its workers, Harvard’s administration should consider halting further investment in HEI. This is especially true if current allegations of labor rights abuses are substantiated. On a broader level, the Harvard Management Company must address the glaring lack of transparency regarding its investment portfolio.

Outstanding! While Occupy Harvard can’t claim credit for the Crimson’s wise decision to make this call for divestment and transparency, it would seem to many of us that we can claim at least some of the credit for bringing this issue the amount of attention it has lately received.

Whatever you think about HEI, the point is that now you’re thinking about it. And that, friends, is a huge success.

Advertisements
This entry was posted in General.

5 comments on “Occupying the Conversation

  1. Ed Hamilton says:

    Way to go Occupy Harvard! A likely decisive effect on FINANCE! Here’s another such opportunity, surely.
    Show these charts and ask the questions
    This was in the WSJ 3/30/1999:

    Would subsequent topping out and falling far down be well-precedented?
    This was in the NYT 8/27/2006:
    http://www.nytimes.com/imagepages/2006/08/26/weekinreview/27leon_graph2.html
    Would subsequent topping out and falling far down be well-precedented?
    Both up to date:
    http://homepage.mac.com/ttsmyf/RHandRD.html

    Agreed?: the main enabler of sizable asset price bubbles (very harmful!) is keeping the real price histories out of sight.

  2. HPROnline says:

    The Harvard Political Review also posted an article on Harvard Management Company today:
    http://hpronline.org/harvard/in-defense-of-harvard-management-company/

    • Comment left at HPR:
      While I will not write a lengthy economical critique on the oversimplification of the labor market to supply and demand, I wanted to state the following.

      You mention the increase, from 1990 to 2005, $4.7 billion to $22.6 billion (480%), as support for Jack Meyer’s outrageous salary. Following the recession of early 1990s to the secondary boom of 2005, Dow Jones industrial Average quadrupled to ~420% value; while his returns were certainly great, they were not as majestic as the article makes them seem.

      For the best job in the investment market,(Meyer’s words) it should be possible to find others’, equally able to manage -now shrunk- the endowment. Being complacent to the rates posited by the highly corrupt and overly compensated Wall Street is hardly an excuse.

      If Harvard doesn’t reinvest in its social contract with the public that supports it in tax cuts approaching seven figures, it runs the risk of generating dissent against non-profit higher education, presenting serious harm to the ‘industry’ as a whole.

  3. STOP THE OCCUPATION NOW says:

    Clowns.

  4. STOP THE OCCUPATION NOW says:

    Wrong. Timeline:

    1) Naive Harvard undergrads pretend to be 99%ers and hold a camping session in their own back yard.
    2) Parents become concerned that their little angels might get mixed up with the commoners inhabiting Dewey Square.
    3) Parents call school.
    4) Dean locks gates.

    Proof:

    http://www.college.harvard.edu/icb/icb.do?keyword=k61161&pageid=icb.page258888&pageContentId=icb.pagecontent557848&view=view.do&viewParam_name=occupy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s