2/11/2004

From the YDN: Between 25 and 30 students representing several student organizations held a news conference outside of 55 Whitney Ave. where they voiced their concerns about the amount of money Yale is donating to the Nature Conservancy and the current amount of disclosure about Yale's investments. Wanting to present a letter expressing their concerns to Chief Investment Officer David Swensen, the group entered the building but was denied entrance to the Yale Investment Office, dispersing after approximately 30 minutes. The controversy surrounding Yale's involvement with Baca Ranch began over two years ago when Yale's unions revealed that Yale was a member of the partnership that owned the ranch. The ranch's managing owner, Farallon Capital Management, wanted to develop the aquifer below Baca Ranch, prompting criticism from Colorado residents and politicians. They contended that the proposed water development would harm local ecosystems. The 97,000-acre Baca Ranch lies adjacent to the Great Sand Dunes National Monument and Preserve in the San Luis Valley. Colorado Sen. Wayne Allard met with President Richard Levin when Yale's involvement surfaced, and within 24 hours Yale had agreed to sell the Baca Ranch to the Nature Conservancy and donate its profits from the sale to the group. Yale currently plans to donate $1.5 million to the Nature Conservancy... Thing is, Yale originally agreed to donate $4 million to the Nature Conservancy and then, apparently, figured no one would notice if it cut away a little around the edges... The students protesting yesterday disagreed with Yale's involvement in what they called an "environmentally hazardous" investment. Naasiha Siddiqui '05, an organizer of the news conference, said the students had e-mailed Swensen a week ago in an attempt to set up a meeting to discuss Yale's investments but had received no response. After the news conference the protesters tried to take the letter they had written directly to Swensen, but were not allowed to enter the office. The building facility manager said the building was placed in "secure mode" due to the protestors -- a process that includes turning the elevators off and escorting patrons into the building. Approximately 10 minutes after the group asked to gain entrance to Swensen's office, four Yale police officers arrived on the scene. Yale Police Chief James Perrotti said the officers were dispatched because there was a large group of students in the lobby...

0 Comments:

Post a Comment

<< Home