August 4, 2000
U. of Michigan to Sell All Tobacco Stocks
The University of Michigan has decided to sell its tobacco stocks, becoming the second state university this year to do so.
Michigan's endowment has $6-million invested in the Philip Morris Companies Inc., and $35,000 in Gudang Garam, a tobacco company based in Indonesia. Together, the holdings make up less than 0.25 percent of the endowment.
The Board of Regents acted after the faculty senate and an ad-hoc committee of faculty and staff members,
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