Student outrage at arms shares
The People and Planet Society has hit out over the University’s continued investment in BAE Systems, the third largest arms exporter in the world.
Ric Lander, the Chair of the York Student group, said that the University’s policy is a “complete misnomer” and has continued to call for the Vice-Chancellor to pull out of the company. In October 2005 Nouse first revealed that York had 115,000 shares in BAE after the information was revealed through the Freedom of Information Act, and York Vision has since joined the campaign against the investments.
Since the issue was first brought to light, the University has brought over 30,000 more shares in direct holdings in the company, which was the result of a 1999 merger between British Aerospace plc and Marconi, an American-based electronics company. The University has previously claimed that it subjects itself to the ethical policy of the investors Schroders plc, through which it holds over £5 million worth of shares in GKN, who are involved in automotive and aerospace engineering. However in an email seen by Nouse that was sent to The People and Planet Society, Bill Hemingway, the Payroll and Pensions Manager of the University, confirmed that the shares in BAE were not brought through Schroders.
Lander has reiterated the need for the University to set its own ethical policy regarding shares. “The University’s decision to default to Scroder’s policy shows a lack of interest and understanding of the issue.”
He has also stated the need for students to show that it is an issue they care about, and has praised Micky Armstrong, and the SU for its continued interest. He said “I believe a strong showing of student support is needed to make the University understand how important this issue really is.
“I find it difficult to understand that Brian Cantor knows nothing of this issue when it has been raised in both student papers and through the Unions proper channels.”
paul chimbonda
You state “student outrage” How many are actually outraged ,thousands,hundreds or the typically vociferous gaggle of great unwashed, doc martin no make up brigade .
You know the sterotypical class war anti-vivisectionist type.
Colonel Mustard
Good grief.
Sophia
Paul,
I would like to remind you that you are commenting on an article from last year, but I can assure you that the student outrage refered to isn’t mere hyperbole - in one day alone, for example, over 1000 students on campus signed a petition expressing this outrage.
I must say that your attitude puzzles me: why do you feel so divorced from anyone who would object to the University having investments in the arms trade, and why do you feel the need to insult and characterise them?