Student Issue, 1989—Investment in Corporations Doing Business in South Africa

On January 25, 1989, students marched from the university center to Andy Holt Tower in protest of UT investments in corporations doing business in South Africa. The Anti-Apartheid Coalition of Tennessee (ACT) organized the march. The SGA passed a bill shortly thereafter establishing a committee to “open dialogue with University officials . . . who may be able to explain the current situation.” The bill also stated that “the student body of UT condemns apartheid and the governments who practice it.” Treasurer David Martin met with representatives of ACT, and an open forum was held at the urging of President Alexander in the Crest Room of the university center on February 16. Associate General Counsel Ron Leadbetter, Treasurer David Martin, Student Senator J. B. Bennett, Executive Vice President Joe Johnson, and Vice President for Business and Finance Eli Fly discussed the issues, reiterating that UT abided by the “1 percent” guideline—which prohibited investment in any corporation with holdings in South Africa exceeding 1 percent—and did not invest in companies that had not signed the Sullivan principles. On February 16, students again marched from the university center to Andy Holt Tower in protest of UT’s investments and delivered to President Alexander a petition signed by more than seven hundred people demanding divesture. In April the ACT erected a shantytown located near the Humanities Building. In June members of the organization appeared before the board of trustees’ Finance and Business Committee and explained their position. The committee, after a short discussion of the issue, decided not to recommend a change and that divestment would not become a policy of the board. A march from the university center to Andy Holt Tower protesting apartheid was subsequently held on October 23.