Harvard Management Company, which manages the university’s endowment, has divested the fund from all investments it had in Israel companies, during the second quarter of this year. The divested stocks include TEVA, a generic drug manufacturer, that has greatly benefited from Israel’s strangulation of several Palestinian pharmaceutical companies, Checkpoint Securities, which provided many of the technologies Israel uses humiliate, screen, and search Palestinians at road blocks, and Cellcom, a wireless communications company that provide communication services to the army, among others.
College-based divestment campaigns have intensified over the past few years, Harvard University included. And while the university made no statement in favor of divesting from Israel on ethical, human rights grounds, it is not unlike the administration to make such a move quietly and preempt having to answer to to immorality of holding such investment and hypocrisy in retaining them while touting the divestment from Apartheid South Africa as beacon of progressive ethic.
The divestment Announcement came in a 13-F form filing to the US Securities and Exchange Commission on Friday, as reported by the Israeli business daily, Globes:
In another blow to Israeli shares, the Harvard Management Company notified the US Securities and Exchange Commission (SEC) on Friday that it had sold all its holdings in Israeli companies during the second quarter of 2010. No reason for the sale was mentioned. The Harvard Management Company manages Harvard University’s endowment.
Harvard Management Company stated in its 13-F Form that it sold 483,590 shares in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for $30.5 million; 52,360 shares in NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) for $1.67 million; 102,940 shares in Check Point Software Technologies Ltd. (Nasdaq: CHKP) for $3.6 million; 32,400 shares in Cellcom Israel Ltd.(NYSE:CEL; TASE:CEL) for $1.1 million, and 80,000 Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) shares for $1.8 million.
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Shh…Nobody tell Alan Dershowitz.
Posted by americansneakers | August 15, 2010, 10:46 amAbout damn time!
Posted by Erik | August 15, 2010, 1:50 pmNow what we need is a brave movie producer who will make a movie about the Israeli art students(Google for more info) who were follwoing the 9-11 hijackers priior to 9-11. This Israeli group of spys were arressted after being reported for cheering while they filmed the collapse of the WTC . After being detained for several days, all of the Israeli agents were released and immediately returned to Israel.
Posted by dsmith | August 16, 2010, 4:19 amThat’s bullshit left wing, pro Arab propaganda lying crap, grow up idiot…
Posted by Don | August 26, 2010, 12:35 amThis article is simply hilarious. Checkpoint manufactures firewalls and antivirus software and has *absolutely nothing* to do with physical checkpoints. Cellcom is simply a large cell phone company and does not provide services to the army (which are provided by Motorola) and Teva did not benefit from any ‘strangulation’ of Palestinian drug companies.
Oh and BTW Harvard is simply making periodical decisions. Check out the holding times for these shares (except Teva). Hint it’s less than 2 years.
Posted by John | August 15, 2010, 3:12 pmThe function of the companies is irrelevant ,its just the fact that they are Israeli ,is the point .
If products have a bar code starting with 729 ….I put them back on the shelf. Its not much but its what I can do to say "you can not practice apartheid on my dollar." .
Posted by mick | August 16, 2010, 2:02 amMolly,
What?
Posted by Sam | August 15, 2010, 3:18 pmAmerican's will divest their money from each and every HARVARD trained money manager in protest.
Harvard is beyond disgusting. The school violates America all the time. Look at Elena Kagan's treatment of our military.
Disgusting. My child would attend Yale or Princeton….NEVER Harvard!
Posted by Alice Walker | August 15, 2010, 3:34 pm"My child would attend Yale or Princeton" in your dreams ….
So "The school violates America all the time." by not showing unconditional support for Israels violent policies …minus 11 Alice maybe you and Israel have something in common …you both violently over react and think you have more authority than you actually do.
Posted by mick | August 16, 2010, 2:18 amYour son would never attend college, you and your child are both stupid
Posted by alan | August 15, 2010, 5:48 pmThis is simply joyful news. May such divestment be repeated everywhere whether for moral, financial or
whatever reasons.
Posted by simmy | August 15, 2010, 6:23 pmIt's wonderful news. The Zionists' fear is palpable.
Israel is a racist dog of a state with fewer and fewer friends on the campuses.
Their veto over the divestment debate is now busted.
Posted by Boycott Israel | August 15, 2010, 9:07 pmPerhaps the author would care to share his knowledge of the many "hidden" successes of not only the Palestinian pharmaceutical industry. What successful drug – or any or modern medical device – has come from Palestine, Syria, Egypt, Jordan, or Lebanon? Which great democratic has a better track record of finding cures, creating medical devices, or discovering drugs to help save lives around the world than Israel?
Posted by besceptical | August 15, 2010, 9:46 pmIf Israel was systematical bombed back into the stone age every time it started to stand on its feet as it does to Palestine, Syria or Lebanon it would be a different story. Israel fights to keep its neighbors down trodden by the use of its American funded military .Even its nuclear weapons program was "stolen technology" .
Posted by mick | August 16, 2010, 2:24 amAh the red herring, favorite of almost all Israeli apologists. Why is it that whenever a zionist runs out of decent defenses of Israel's deplorable policies, they always go to the unoriginal "Look at all the Arab states around us and how terrible their human rights records are" or, as present here, "But guys, Israel has been the home of so many technological advances like the usb drive and other awesome shit that makes ethnic cleansing okay!"? As Chris Rock once so eloquently said, I'm tired of this shit. Tired. Tired. Tired.
Posted by Karl | August 18, 2010, 3:48 pm@besceptical
That's probably because Palestine's entire economy has been restructured into a periphery to Israel's core for the last 40 years. The entire Palestinian economy has stagnated, and not on its own — because of Israeli policy, specifically things like checkpoints and land theft (not to mention periodic massacres).
If Israel has a good record, then it's not a surprise. It has a vast source of cheap labor to exploit (Palestinians who have lost all of their property and livelihoods with few choices left other than to apply for permits to work in Israel, when the option is even available), they have large reserves of land and capital to develop that they stole/are stealing from Palestinians, and of course the rest of the world is/has always invested into some of the most murderous parts of the Israeli economy to the detriment of everyone else.
If the issue is having a state/country develop medicines and other products then there are ways to do it without screwing over the indigenous.
Posted by Joe | August 15, 2010, 10:42 pmIsrael has one of the most aggressive spying networks in the world …they steal more than they invent ,but claim things as their own.
http://www.youtube.com/watch?v=JWpWc_suPWo
http://whatreallyhappened.com/WRHARTICLES/israeli…
Posted by mick | August 16, 2010, 2:28 amIsrael has bitten the hand the feeds her, consistently, for a very long time. And now there are consequences for her actions.
Posted by Tim | August 16, 2010, 5:06 amIs it possible that Harvard University has clauses that bind the university to standards of human rights, international law and democracy? Israel is in clear violation of these three conditions and global parties to investments, agreements and projects with Israel have to be challenged as their relations with Israel are clearly infringing upon their own rules and principles. Could Harvard University have, unofficially, just divested from Israel?
Posted by galfa | August 16, 2010, 8:34 amLooks like it wasn't divestment after all http://www.businessinsider.com/harvard-explains-i…
glad to see that Harvard hasn't sold its soul to the "Israel boycott" cabal
Posted by | August 16, 2010, 11:33 amLots more universities will soon be divesting from "Israel". They will also claim that it's nothing political.
Can't wait for the school year to start.
Posted by Divest Resolutions | August 16, 2010, 11:38 amOops, you got it all wrong. They sold off Israeli shares in its Emerging Markets portfolio but have some in its Developed Countries portfolio since Israel's status has been upgraded.
Harvard and Alan dershowitz issued statements about that today. No diverstment there. Harvard supports Israel, its democracy, and its right to defend itself from the terror and tyranny of its enemies
Posted by Mohammed the First | August 16, 2010, 2:05 pmIsrael isn't democracy. They ban arab political parties (1) like clockwork before elections. And considering their slaughter of 1,400 people in Gaza(2), their current destruction of an Islamic cemetery(3 – uber sick btw), banning Palestinians from mourning or showing sadness(4) and the boarding of an aid ship in international waters to murder 9 activists (5) – I'd say the worst terror and tyranny in the middle east (or elsewhere for that matter) comes from Israel.
1 – http://news.bbc.co.uk/2/hi/middle_east/7825032.st…
2 – http://en.wikipedia.org/wiki/Gaza_War
3 – http://www.cnn.com/video/#/video/world/2010/08/13…
4 – http://www.haaretz.com/news/israel-moves-closer-t…
5 – http://www.guardian.co.uk/world/2010/may/31/israe…
Posted by Adam Jung | August 16, 2010, 2:57 pmHarvard supported Aparthedi South Africa too, and refused to divest for many years.
But that did not last forever.
Posted by Divest Resolutions | August 16, 2010, 2:41 pmI'm glad Harvard mentioned those commingled and indexed investments in developed markets. Divestment activists will need to examine those as well when the campaigns get going again.
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Posted by Strawberry | June 1, 2011, 8:55 amI'm thankful that Harvard has mentioned those investments in developed markets. Great to know and well researched. Activists will examine those and can help better. Thanks for the great info!
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