For the third time in three years the Utah State University Institutional Council has voted against divesting the university of investments with firms doing business in South Africa.
However, council member Fred Hunsaker said, "This is not a signal that the question is closed for debate."In 1986, USU students voted overwhelmingly in favor of divestment. During the council's meeting Saturday, Payam Foroughi, president of the USU chapter of Students Against Apartheid, said his group would like the council to hear a presentation from a broker specializing in "socially responsible" investments.
"Although investing in South Africa was wise 15 years ago, we feel your money could do better now with more responsible companies," he said.
Council Chairman Ken Anderton and other council members said they do not believe divestiture would be helpful to the black majority in South Africa. Hunsaker also said he had reservations about the council adopting any political agenda for university investments.
Another member of the group, Tim Rasmussen, said, "Ethics, morals and social responsibility should be part of our education, and therefore USU should take a lead in creating an investment portfolio reflecting those ideas."