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He helped to lead a campaign on campus to force the college trustees to divest stock holdings in companies doing business in apartheid-era South Africa.
While it is desirable for those in government who can influence decisions to divest stock holdings, it creates a substantial economic burden on them.
People who have to divest stock to join the executive branch of the federal government can defer paying capital gains tax as long as they roll the proceeds into other investments.
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Like other cabinet officials, Mr. Powell has agreed to divest stocks that could present a financial conflict of interest within a 90-day period that ends in mid-April.
Title 18 of the U.S. Code lays out the rules by which appointees have to divest stocks or put holdings into a diversified blind trust if decisions made in office could have an affect on their value.
A Harvard spokesman, Kevin Galvin, added, "The university has traditionally maintained a strong presumption against divesting stock for reasons unrelated to investment purposes," preferring that the college make its "distinctive contributions to society" through its "research and educational activities".
We've heard that people have divested stocks from large coffee companies and re-invested elsewhere.
Another deterrent for some academic cancer researchers may be that they would have to accept a sharp pay cut and sever any ties to drug companies, including divesting stocks, to comply with strict NIH ethics rules.
As Billenness puts it: Chevron would like nothing better than if we were to divest our stock and go away.
Many of these same churches have taken up contentious resolutions to divest their stock holdings from companies that sell military and security equipment to Israel.
Mr. Obama said the government would take a hands-off approach to managing G.M., and would divest its stock in the company as soon as it could.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com