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March 20, 1970 - Image 10

Resource type:
Text
Publication:
The Michigan Daily, 1970-03-20

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Page Ten

THE MICHIGAN DAILY

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TH-M-IGNDAL

Fricay, March LU ,97C

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TWO PROPOSALS:
SEC orders vote on
Nader's GM request

--)

By The Associated Press
The Security and Exchange
Commission (SEC) yesterday noti-
fied General Motors Corp. that
only two of nine proposals sub-
mitted by Ralph Nader's 'project
for "corporate responsibility" have
to be included in matters on which
GM stockholders will be asked to
vote in May.
GM originally had rejected all
nine proposals as unsuitable for
inclusion in a pre-meeting proxy
statement to stockholders but said
it would go along with the two
approved by the SEC, "although
the SEC ruling is contrary to the
legal opinions of our general coun-
cil and outside council."
The two proposals on which
stockholders will vote are:
-To expand the board of di-
rector by- three members "to en-
able representatives of the public
to sit on the board"; and
-To establish a "General
Motors shareholders committee for
corporate responsibility."
GM said the SEC provided, how-
ver, the amounts as determined by
the board of directors and that in-
formation given it be restricted by
the board to areas which the board
does not deem priviledged for busi-
ness or competitive reasons.
While declining to place seven
other proposals in its proxy state-
ment, GM said "we will listen and
give factual answers to the ques-
tions raised at our meeting. It is
our hope that representatives of
the project also will listen."
"Anyone who nas attended aI
GM stockholder's meeting will at-
test that there is full and frank
discussion of all matters relating
to the corporation which are of

interest to the stockholders wheth-
er or not they are included in the
proxy statement.
Nader announced Feb. 7 he
would seek "consumer control" of
GM through votes of its 1.5 mil-
lion stockholders.
Nader said the project on cor-
porate responsibility headed by an
associate, Geoffery Cowan, had
purchased 12, of GM's estimated
285 million shares, to obtain stock-
holder's voting rights and the
right to p r o p o s e corporate
changes.
Among other proposals was one
to "limit the business purchases of
the corporation to those purposes
which are not detremental to pub-
lic health, safety and welfare."
Nader's original proposal for a
"committee of corporate .respon-
sibility" would have given it ac-
cess to all of GM's files and em-
powered, it to recommend new
priorities for the corporation. to
pursue, in light of "its impact on
workers, the environment, trans-
portation safety, the efficiency and
public welfare."
In announcing his campaign to
expand the board of directors
Naderdsaid nominees of his group
would be Prof. Rene Du Bos, a
biologist on President Nixon's en-
vironment advisory committee;
Betty Furness, White House as-
sistant for consumers affairs un-
der former President Lyndon
Johnson; and the Rev. Channing
Phillips, president of Washington
D.C.'s city housing and developing
corporation.
GM insisted that most of Nader's
proposals came under the peroga-
tive of management and were not
proper subjects for stockholders'
decisions.

DAILY OFFICIAL
BULLETIN
The Daily Official Bulletin is an
official publication of the Univer-
sity of Michigan. Notices should be
sent in TYPEWRITTEN f o r fnto
Room 3528 L. S. A B 1 d g ., before
2 p.m., of the day preceding pub-
iication and by 2 p.m. Friday for
Saturday and Sunday. Items ap-
pear once only. Student organiza-
tion notices a r e not accepted for
publication. F o r more informa-
tion, phone 764-4270.
FRIDAY, MARCH 20
Day Calendar
Classical Studies Dept.: Awards for
Phillips rPize Competition to be given,
2009 Angell Hall, 4:00 p.m.
Slavic Department Russian Film Ser-
ies-Duel: Multi-purpose Room, Un.
dergraduate Library, 7:00 and 9:00 p.m.
Department of Astronomy Visitor's
Night: Detroit Observational and As-
trophotographic Association Audio-Vis-
ual presentation: "When a Man Looks
Upward": Auditorium B, Angell Hall
8:00 p.m.
Degree Recital: Marilyn Richardson,
piano: School of Music Recital Hall,
8:00 p.m.
Michifish: Annual Water Show
Margaret Bell Pool, 8:15 p.m.
General Notices
Graduate School Foreign Language
Test: Applications avail, in Language
Sec. office, 1014 Rackham Bldg., or
3014 Rackham Bldg. Next test will be
Sat., May 2; applies. due in Princeton,
N.J., before April 8.
Undergraduate Honors Convocation._
The annual Convocation recognizing
undergraduate honor students will be
held at 10:30 a.m., Fri., Mar. 20, at
Hill Auditorium. Dr. William N. Hub-
bard, Jr., Dean of the Medical School
and Director of the Medical Center and
future Vice-President and General
Manager of the Pharmaceutical Divi-
sion of the Upjohn Company, will ad-
dress the.Convocation on "Compassion
and Competence"
All undergraduate classes, with the
exceptin of clinics and graduate sem-
inars, will be dismissed from 9:45 to
12:00 noon for the Convocation. How-
ever, seniors may be excused f r o m
clinics and seminars.
The honor students will not wear
caps and gowns. Main floor seats will be
reserved for them and for members of

their families, and will be held until
10:15. Doors of the Auditorium will be
open at 10 00. The public is invited.
Placement Service
GENERAL DIVISION
3200 S.A.B.
Current Positions received by mail,
not interviews on campus, 764-7460 for
information.
State of Michigan. lawsenforcement
executive, BA soc. wk., psych., ed., or
rei field plus minimum 5 years ed., soc.
wk., psych, counseling or law enforce-
ment exper.; Game research biologist,
MS biol., tool., wldlf. mgmt., and 1
year or new PhD.
Management Consultants, consultant,
mgt. services in mktg., finance and op-
erations, tech. undergrad degree desir-
able. new MBA, sales engineer with
time-sharing firm in SE Mich., tech, de-
gree, i.e. math, MBA a plus, min. 2
years sales in numerical control ma-
chine tools, do not need to know how
to program, penings in Mich., Md.,
Ohio, III.

TYPING
PRINTING
Avoid the Hassle
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Professional Service
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The completely new translation
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Telephone 761-5305
OPEN 915 Mon.-Fri.

Friends of the Earth ..00

League of Conservation Voters
(in cooperation with ENACT)
MASS ME.ET NG TODAY.
"Political Action for Environmental Goals"
MARION EDDY, National Director, L.C.U.
DALE JONES, F.O.E., San Francisco office
BEN SHAINE, Michigan Organizer (764-4432)
During the ENACT Teach-In F.O.E. President David Brower gave this bipar-
tisan group's first campaign endorsement of the reelection of
SENATOA"R PHILIP NR
H ELP ORGANIZE
(can the electoral process respond to environmnental urgency?)
FRIDAY, MARCH, 20, NOON
ROOM 1040 SCHOOL OF NATURAL RESOURCES

1%

I

NEW MUSIC FOR ORCHESTRA
SATURDAY, MARCH 21, 8:00 P.M.
Hill Auditorium
CONTEMPORARY DIRECTIONS ENSEMBLE

GERALD PLAIN
ROBERT MORRIS

aCHATtaNOOqaCHOO
Sydney Hodkinson, conductor
Wireless
Richmond Browne, conductor

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SERVING BIG 10 SCHOOLS SINCE 1961

UNIVERSITY PHILHARMONIA
THEO ALCANTARA, conductor

DAVID BATES
THOMAS JASON
RUSSELL PECK
FIVE WORLD PREMIERES

Six Pieces for Orchestra
Proskynesis
My Capricorn I

INGRESS GRATIS

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