Wishing to reposition the firm in the newspaper business, Black transformed Argus into an operating company by divesting shares of Massey Ferguson and dismantling Dominion Stores.
The government could foot the bill, but that would add ten points to inflation for a decade and lower the growth rate from 3-4% to 1-2 1-2%timatestimatesMrne, unless the assets somehow become more productive under their inexperienced new owners.In practice, the cost will probably be split between the banks, the government, the firms divesting shares and the blacks buying them.
Milner and DST Global divested shares in both Twitter and Facebook after their public offerings.
At the time, sources indicated the 81-year-old mogul was divesting shares for estate-planning purposes.
Last month Mr. Obama cited national security concerns as the reason for ordering a Chinese company to divest its shares in wind farm projects near a Navy testing facility in Oregon.
When, at the firm's annual meeting two years ago, an investor complained that Starbucks's support for gay marriage in Washington state had harmed sales, Schultz invited him to divest his shares.
In a move that surprised and delighted campaigners, the university's vice-chancellor, Peter Coaldrake, revealed on Friday the university's $300m endowment fund would divest its shares in coal, oil and gas companies.
"Our equity investment in PetroChina has been very successful and we believe now is an appropriate time to divest the shares," the president of BP China, Gary Dirks, above, said.
And others – the comptroller of the state of New York, for instance – are going through this charade because they've been pressured to divest their shares: to join everyone from the University of Hawaii to the city of Copenhagen to the Rockefeller family in a huge campaign that's helped change the dynamic around energy investing.
