Yale Promises Not to Reinvest in HEI

Occupy Harvard’s push for the University to not reinvest in HEI Hotels & Resorts—a corporation under investigation by the National Labor Relations Board for poor labor practices—gained momentum last week when Yale University announced that it would not reinvest in the corporation.

Yale is now the third Ivy League university to officially state that it will not reinvest in HEI. Earlier this year, both Brown University and the University of Pennsylvania committed to not reinvesting in the company.

Objection to Harvard’s investment in HEI has been a top priority of the Occupy Harvard movement, which formulated a list of demands two weeks ago.

The demand for non-reinvestment has become more prominent since custodial contract negotiations, another item on the Occupy agenda, were settled earlier this month. Occupiers are now hopeful that Yale’s decision will spur the Harvard Management Company to follow suit.

“A precedent has been set among our peer institutions for publicly committing to not reinvest in HEI,” said Samuel F. Wohns ’14, a Occupy Harvard student organizer and Crimson Magazine editor. “I hope that the Harvard Management Company will make that same public commitment.”

Wohns said that he feels that Harvard’s investment in HEI is inconsistent with the University’s mission as a non-profit institution to serve the public good.

“In my mind, socially conscious universities like Harvard, have no business investing in companies and funds that exploit their workers and have a track record of violating labor laws,” Wohns said.

Wohns said that he feels that Yale’s move has greatly strengthened Occupy Harvard’s demand.

“As the weeks and months go on, our momentum is gaining, and as our peer institutions are making this decision we are gaining steam—over a thousand students have spoken out on this issue,” Wohns said. “I think its a good sign for what’s to come here at Harvard.”

Brian Lang, president of UNITE HERE! Local 26, the union that represents Harvard Dining Hall Workers and is a branch of the union that also represents HEI hotel workers, said he hopes that Yale’s decision to not reinvest will force Harvard to take a “good, hard look at its investments and make a socially responsible choice.”

Lang added that he thinks Harvard respects its workers’ rights and hopes that the University will invest in companies that uphold the same standards.

The University declined to comment.

—Staff writer Mercer R. Cook can be reached at mcook@college.harvard.edu.