S. Africa Ties May Threaten UC Funds
Assembly Speaker Willie Brown (D-San Francisco) warned on Tuesday that unless University of California regents agree to divest UC holdings in firms that do business with South Africa, he will ask the Legislature to withhold construction funds and other money from the university.
Brown, a voting member of the UC Board of Regents, said his proposal could cost the university from $200 million to $300 million in state money not earmarked for educational programs.
At the same time, Brown predicted that the Assembly would pass a measure halting investment of state employee pension funds in companies with business ties to South Africa.
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