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Loyola University Chicago

Shareholder Advocacy Committee

Meeting Minutes - 10/01/09

Shareholder Advocacy Committee

10/01/09 Meeting Minutes

Rm. 259, Sullivan Center, Lake Shore Campus

 

Present:               Ray Catania (Chair), Annemarie Barrett, Patrick Eccles, Navneeth Iyengar,

                            Elaine Lehman (Secretary),  Charles (Bud) Murdock, Eilleen Rollerson,

                            Lucia Samayoa

 Guests:               Xavier Chen, president-United Students Government Association (USGA)

                            Jabari McMillon, vice president – USGA

 Absent:                Mary Elsbernd, A. Tassos Malliaris

 

The meeting was called to order at 8:45 am.

First Things First

Ray, Chair, began the meeting by welcoming Mary Elsbernd (new faculty representative) and Navneeth Iyengar, USGA-appointed undergraduate student who will participate as a non-voting member and then replace Lucia Samayoa upon her completion of service in December.  Ray also asked attendees to introduce themselves. 

Old Business

2008-2009 Annual Report.  The Committee briefly reviewed the 2008-2009 Annual Report.

Student Outreach.          Lucia, Annemarie, and Eilleen reported on their endeavor to further student outreach by meeting with USGA and various student organizations.  Elaine asked if they will utilize the schedule template provided at the 2008 Columbia University meeting, and subsequently discussed by SAC.   Eilleen responded that they would be open to considering this.

Statement on Shareholder Advocacy Committee Activities.    The Committee reviewed the Statement prepared, and discussed at length the position of divestment.  The student representatives requested, that as a result of divestment conditions and protocols being met, for the Committee to also include the recommendation (in addition to divestment) to the University to refrain from future investment in such holdings until the company has remedied its questioned activities. 

The Committee also discussed the issue of non-investment, and reiterated that this fell outside the Committee’s shareholder advocacy responsibilities.  Xavier commented that USGA may be able to pursue this concern.

Follow-up to Student Query on Lockheed Martin.  Elaine reported that subsequent to meeting with students on 05/05/09, about their concern on University holdings in Lockheed Martin, it was learned that the University sold its stock in  August; that the decision was a financial one and  not related to the students’/SAC’s inquiry.  Elaine added that the planning of the upcoming University Community Meeting was in partial response to the students’ inquiry. 

New Business

IMI Faith-Based Investment Stewardship Roundtable.  The Committee was briefly updated on the IMI Faith-Based Investment Stewardship Roundtable, which was scheduled to be held on Water Tower Campus on 10/13/09-10/14/09.  It was reiterated that SAC membership were invited, but not obligated, to participate.  The announcement was posted on the SAC’s web site, the University calendar, in UMC’s Inside Loyola Weekly, and the plasma screens on both campuses, as well as distributed via broadcast email. 

LUC Community Meeting on SRI.   The Committee briefly discussed the upcoming University Community Meeting on SRI, scheduled to be held on Wednesday, 10/14/09; while the SAC encouraged those interested in speaking at the Meeting to submit outlines/comments/summaries in advance via email, it was reiterated that Meeting participants who did not do so would not be deterred from speaking.  The Community Meeting was intended as partial follow-up to the 05/05/09 meeting with students concerned about Lockheed Martin.  At the end of the last academic year, the Committee stated that they would like for the students to be more involved in planning the Committee’s conferences/meetings.  Elaine briefly explained planning with student representatives, who selected time, day, and month.  Selection of actual date and space was based on availability on Campus.   Lucia, Eilleen, Annemarie, Navneeth, and Elaine confirmed that they would be present at the Meeting.

The template format of the Meeting is posted on the SAC’s web site, and a copy of the 04/03/08 Community Meeting announcement was provided for reference.  Bud suggested that a case study should be included in the Meeting’s presentation (At the end of the meeting, Patrick suggested that the case study should be focused on the Chevron resolution).  Elaine requested for a final Meeting outline from the student representatives. The announcement was posted on the SAC’s web site, the University calendar, in UMC’s Inside Loyola Weekly and Loyola Focus, and the plasma screens on both campuses, as well as distributed via broadcast email.  Navneeth suggested for the announcement to be also sent to The Phoenix, to which Ray said he would forward. 

The meeting was adjourned at approximately 9:50am.

Submitted Respectfully By:

Elaine Lehman

Secretary 



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