Letters to the editor
Divestment not near
To the Editor:
The May 18 The Santa Clara article "Students fight mining investment" described students' efforts to have the University Endowment sell its small holding of Massey Energy Company stock. It failed to convey many facts and issues which I provided for the story that are essential to understanding our investment process, our Social Responsibility for Investments principles and our investment in Massey.
From three hours of face-to-face meetings with students and various correspondence with them, I have been impressed with the West Virginia Immersion Experience students' desire to engage in constructive dialogue on this matter. They have been receptive to learning about the rigorous process by which we choose investment managers and monitor the portfolio.
I have strongly encouraged them to develop a comprehensive view of the mountaintop removal process and the context in which it occurs. For example: learn more about SRI; compare the safety and efficiency of various mining techniques; research Massey Energy and the regulatory environment in which it operates; study this issue vis-a-vis the notion of tradeoffs in economics; deepen the understanding of the role of coal in generating electricity in the United States; examine competing views. Without this kind of broader perspective, it would be irresponsible to divest of a particular stock.
I do not believe our investment in Massey Energy violates our SRI policy. Nonetheless, I will continue to act in good faith and maintain appropriate contact with these students. In doing so, I hope that we may reach a deeper understanding of our social responsibilities and, through the process, embody the virtues of a Santa Clara education -- competence, conscience and compassion.
John E. Kerrigan, CFA
Chief Investment Officer
Students' opposition to mining warranted
To the Editor:
I was both proud and dismayed to read your coverage of the current effort by Santa Clara students to encourage the university to comply with its own social responsibility policy: proud that students whom I call dear friends are working to help us save our state from destruction; dismayed at the response of what I want to consider a first-rate university.
Chief Investment Officer Kerrigan expects the students to provide an "argument for selling" the university's stock in Massey Energy. I believe the total destruction of the natural environment is a compelling argument given any semblance of understanding of Christian values. Ignorance of the behaviors of corporations held in stock portfolios is a reality of our time. Upon learning of the behavior of Massey Energy, to continue to hold their stock is an insult to Santa Clara students.
Amazingly, Mr. Kerrigan has the nerve to expect students to offer an alternative investment strategy for funds now invested in Massey. When students point out that the professionals at the university have violated basic Jesuit ethical investment standards, the students are to advise the professionals on alternatives before the pros are willing to stop destroying my state. Bluntly put, Mr. Kerrigan needs to do his homework -- and soon, if he wants to avoid embarrassing a fine university.
Having moved beyond the bliss of ignorance, Santa Clara must now choose to defend and profit from those who would render the Appalachian Mountains uninhabitable or proudly live up to its own social responsibility policy. I have no doubt that Santa Clara will come into meaningful compliance with its stated policy.
Wess Harris
President, Appalachian Community Services
'Bitchin' for dialogue
To the Editor:
In regards to David Wonpu's May 18 The Santa Clara article
David, I appreciate your bitchin' regarding AS. I recognize that the political apathy on campus is largely due to students' misunderstanding of what AS actually does. How can we make our students aware of their government? In my opinion -- through bitching.
Did you know? AS senators have office hours posted in the AS office downstairs in Benson. Do you know where the AS offices are? They're actually just a couple steps down from the paper's office. Wouldn't it be awesome if you walked a couple steps over to interview us once in a while? That's a novel idea: the press, meeting with the politicians. No? OK, then I'll walk over to you guys: the politicians meeting the press. Unfortunately, the brown door of doom is often closed and locked, but, when the door is open or unlocked, I'll drop by.
I like how frequently the paper will bitch about things done by AS and sell their bitchin' to students. You know -- the paper is actually a pretty cool communication device. It's free, accessible and you guys write about stuff that is relevant. I like how frequently the AS bitchin' articles in the paper will have little discussion with the AS members themselves. You could gain a lot from interviewing us directly. Please, if you do, present us as corrupt individuals who would rather fulfill our own shallow goals than reach out to our constituents. It'd make an exciting article.
Interviewing politicians? But seriously, why would you ever want to do that? What do we know about student concerns? Well, we speak with administrators who determine the policies, we're holding a diversity forum in our next meeting, and my committee decided to fund the drag show's petition for discretionary funding in full. Would it not be fruitful to interview those who help manage these student concerns? I guess your paper has deemed that it isn't worthwhile, and I would like to know why. I'd like to make the process easier.
No, this isn't your problem at all -- it's mine. I recognize the power of the press, and I'm reaching out to it.
Peter Lo
AS Freshman Senator