Eighteen minutes. That’s all it took for the investment committee to dismiss a semester’s worth of work and the largest student cosigning in Florida’s history.
Eighteen minutes. And just like that, the student voice is marginalized by a band of suits – a group that we trust to act in the interest of the university.
After presenting our divestment strategy to the USF Foundation Chairman, CEO, and legal counsel on May 5, the Foundation agreed to have, what it described as, its “good-hearted” and “sophisticated” investment committee review the student body’s demand to distance the university from unethical investments. We asked for a chance to give our same presentation to the committee, but the Foundation – finally responding just days before the May 28 meeting – did not think it was necessary to have us present. Instead, they insisted that all materials would be forwarded to the committee members, who would thoroughly review the contents before making any decisions.
We like to think that such thorough reviewing by the committee members never happened. That’s what the results of the investment committee meeting suggest, at least.
Here’s SJP USF’s official statement:
To those who were not present,
With intent of having the University of South Florida’s Board of Trustees divest the millions of
dollars they have invested into companies guilty of human rights violations, Students for Justice
in Palestine prepared a presentation- the professionalism of which was complimented by the
CEO, Chairman, and General Counsel of the Foundation. They carefully researched the
endowment and clearly demonstrated the inhumanity of the investments. The students were
assured by the administration that so long as the information was forwarded along they would
pass it on to their “good hearted, sophisticated investors” who would analyze it thoroughly. What
happened at the meeting proved otherwise.
On Wednesday May 28th, the Investment Committee of the USF Foundation met to discuss the
petition presented to them as well as deliberate over the idea of divestment. That morning
Students for Justice in Palestine, joined by upcoming freshmen, older alumni, community
members, and students of other organizations, packed the small public space allotted to an
audience and sufficiently displayed the enormous amount of support behind this movement.
Divestment was first on the agenda. Despite the meticulous and impressive accumulation of
details composed and emailed to them, the man facilitating the formalities simply read the
requests verbatim from the petition. He praised the concept of dialogue, and opened the floor for
discussion. There was none, save the few individuals who said their past actions were in
compliance with current laws. It was then that Alan Bomstein made a motion that “the
investment process will not be politicized” and all his associated voted in accordance. Then, they
moved on to address other pending subjects.
The day twenty investment committee members take eighteen minutes to dismiss the demands of
ten thousand students, is a pathetic one indeed. In less than half an hour, they had the audacity to
reject over 10,000 signatures without giving the requests the respect they deserved; reflecting
greatly on the attention they give to students of the institution for which they serve. There was no
conversation on the companies in which they invest, the human rights that they violate, or the
possible alternatives that could be explored in their place. It was appalling that they didn’t at least
make more of an effort to discuss the LARGEST student petition in the history of any Florida
university. It is an utter disappointed that the issue of concern was avoided with the passed
proposition of not politicizing investments, because this is not an issue of politics. It is an issue
of ethics. The problem was not whether they are breaking American law. The problem is that
they are breaking the law of morality.
There should be an ethical etiquette to investment; one which outranks fiduciary duty in
importance. Yes, the committee should be responsible for returning as much money as possible
to the university, so long as the investments don’t impede the human rights of others. You invest
to make money but you select companies that match your values. These points cannot be
articulated more simply. It is self evident: people should be chosen over profit. The members
mentioned they invest certain ways because they have a duty to the university. Do they not have
a more pressing one to humanity? As they comfortably meet in a conference room on campus,
they invest in a company that destroys Palestinian homes. As they easily walk to the refreshment
table, they invest in a company that impedes the freedom of Palestinian mobility. As they enter
and exit through the door by their discretion, they invest in a company that holds innocent
Palestinian children in prisons. As they meet on a quiet, sunny day they invest in companies that
terrorize Palestinian civilians with rockets, missiles, bullets, tear gas, and tanks.
They didn’t give the matter at hand the attention or time it deserved. Without shame, they
bypassed it with haste saying they had a loaded schedule. It is hard to believe any group of
human beings could actually understand the gravity of situation and unanimously agree against
its solution. Denied the opportunity to present to them directly, the leaders of the initiative were
told that all committee members “received” the information, yet none from the onlooking gallery
are confident they reviewed it. Members scattered after their meeting was adjourned. The fact
that they ended twenty-one minutes early must have contributed to the rushed nature of their
departure.
For two months, about thirty students canvased USF’s Tampa campus with a clipboard, pen, and
petition until they found 10, 000 students who agreed upon the call of divestment. Ten thousand
individuals who detest the reality that they university invests in heinous corporations
blameworthy of human rights violations. Naturally, thousands are outraged that their signature
was not valued in the least. Their frustration is justified, considering a quarter of the school was
ignored by a powerful minority. The Investment Committee may think their vote against
divestment signified a termination of the effort, but little do they know the students of virtue will
not rest until the signatures are honored, the university has divested, and the occupation has
ended. All with God’s permission.
Awaiting a response and reconsideration from the Foundation.
thehessexpress 