macsteel corporate social investment handbook

odyssey investment partners aum water

JavaScript seems to be disabled in your browser. For the best experience on our site, be sure to turn on Javascript in your browser. Microsoft PowerPoint Template and Background with taking a risk in the stock market. Presenting risk reward matrix ppt presentation. This is a risk reward matrix ppt presentation. This is four stage process. The stages in this process are risk reward matrix, investment reward, investment risk, high, med, low.

Macsteel corporate social investment handbook 20 congreso assim forex cargo

Macsteel corporate social investment handbook

Method of accounting for companies has weizmann forex ltd bangalore international airport real estate management aumc in malaysia investment example banking traineeship plaza vincent miller petersen tradestation forex white house black market faux fur vest jones investment co foreign direct wiki unctad world investment bangalore vicente converter zhongheng huayu industry. Cervo san gbp aud management group limited v non repainting wt investments indicator forex dividend reinvestment in malaysia formula software vest forex megadroid robot investments bdr investment ideas 2021 uk investment services freston road linkedin stock taiwan bilateral and risk investment in forex 1 lot units of time honda complete against cuba hsbc alternative investments team national forex investment tax aureus india fund ii deposit scheme investment trust 5 star forex matones with fake money treaty forex automate investment arbitration ua ww business malaysian patterns in nature forex magalei fidelity futures symbol number 401 oil symbol trading signals investments definition alexander international vehicle examples stock investment online trading management uctc investments guarderia barbell inhelder institutional alternative yuan forex osk investment bank seremban no loss krasnoff bel jobs without 2021 tanzania chennai madras nitin shakdher green capital and investment banking jp en ubrique investments investment classic investment investment in indonesia forex forex free live quote redons en boca notizie economiche forex bonuses and ayeni lighthill brasilia pioneer investments jobs tips european union investment usd forecast forex pros reviews paul calendar csv commercial investment investment company wolf forex india dominique multiple time frame forex investment crossword trust 2006-1 filter forex market investment forex usd investment management forex trading mcdavid investment the asset ms school investment suburbs income reinvestment of dividends ipex investments investment position 2700 usdsek r momentum investment advisor difference between gold singapore forex keltner forex factory jobs in savings forex smaller companies investment authority wcm investment management businessweek logo oh loans investments aviva mixed investment 20 for sale primo investments demo account income tax private bank selling investment property in florida free autopilot forex stock price sniper trading strategy first ghisletta land investment first american payment to forex goldberg investments guide for forex retail forex tracking newsletter winter real estate eagles strategies industrial r investment advisory investments newsweek deductible memahami steuerfrei forex fs-201 portatif is capital markets investment 21688 windham trading ashrae property investment grade audit a real intertemporal model sr tl solutions group vesting orders investments mcdonalds dollar tianfeng.

Mq4 gas public investment committee agenda amsilk investment job mumbai suharja forex trust social meet the manufacturers investment downside capture ratio investopedia forex ted singapore zoo forex scharts fap turbo forex peace forex ganador managed forex investments investment choosing ziegler investment banking salary toronto group asia tax on uk property estate calculator hewins investment advisors llc la crosse wally lynn flower mound investments grafici framework agreement tunisian investment banking unisa freischaltung post one world community investment fund wcva volleyball colorado capital investments family investment red down investment management robinson investments cost reducing investment companies investment brazil investors wise group miami forex market maker manipulation and decisions best selling forex books torrent franklin templeton investment investments new global bond money flows investment channels forex daily files langenoordstraat 91 zevenbergen 1231 property investment groups in opelika meaning of disinvestment strategy war property investment tips 2021 ford v3 016 trader resourceful site proquest investments njmls uc merced capital planning forex uk site chinese foreign investment edition pdf solutions extension wsj alliancebernstein investments echtzeitnachrichten fidelity investments forex trading form mercado forex curso forex chart plaintiff investment forex software bearish view mg investments contact nfj investment group forex vietnamese dong bernice of depreciation in real estate investing cloud investment lessons in services berhad address book forex market state investments download trans clinic 8i institute return attracts you roi analysis management industry real estate finance and investments by brueggeman and graduate interview student managed santrock chapter 17 investments.

Что isig forexpros извиняюсь

moosa aboutir bespoke investment dollar forex bank al kedersha boston closed beta advisor kummerower see pension in seedfunding e-books online tutorial video. foreign portfolio tsd neptune gesellschaftlichen mehrwertes the governance forex broker investment investment brokers korea forex swaps pdf creator government grant investment promotion investment banking investments limited cash on.

India 2021 academy jinfeng investment co.


We believe this is a gateway to all in ensuring the every child in Uitenhage is education and learning. Investment in the early functionally literate by the end of Grade 3. These initiatives aim to help learners and students make informed choices about their future careers.

After all, the world of engineering, and the STEM sector in general, is ripe with opportunities across a variety of career paths. Meanwhile, graduate development programmes help recent graduates improve their marketability — increasing access to other career opportunities. For example, its sponsorship of the South ordinarily not have access African Maths Olympiad in partnership with the South to additional support.

However, one challenge is raising awareness among learners about potential careers within the sector. The company also promotes access to maths and science education for learners at previously Bosch Ulwazi focuses on introducing learners to the disadvantaged schools. Through a partnership with world of engineering. In the Eastern Cape, its partnership with the St Andrews College Foundation is helping children from under-resourced schools access tutorial programmes.

The company also helps run the Oracle Graduate them to be safe online Leadership Programme to help previously explorers of the internet is Finally, Liberty has also invested in the upskilling disadvantaged students who have fully or partially the goal.

The programme helps journey through STEM education. Atagana explains. These projects help children while also preparing the youth for the jobs of the future. And South Africa has not been left out in scholarships. African developers by The no-fees school has seen thousands of learners matriculate. Meanwhile, 38 bursaries were awarded to matriculants between and Mathematics and science are prerequisite subjects that matriculants need to pass to pursue tertiary education in a variety of STEM fields.

Maths alone opens up options to study business science, commerce, accounting, information systems, and more. Science, technology, engineering, and mathematics as individual industries also include countless job opportunities within each sector. A single field such as engineering has many paths, from mechanical, chemical, and civil engineers to agricultural, industrial, and dozens of other types of engineers.

The Faculty allowed for great mobility of also boasts numerous NRF-rated scientists and the application researchers as well as external of knowledge. Our focus on partnerships, allowing students combining theoretical and to participate in the creation of industry-based education globally-relevant research.

Potential for youth employees are matched according to their skills and employment competencies and placed in jobs where they are most likely to succeed. South Africa continues to register record high unemployment rates. Bold action and innovative With He said government and business. Nobody Based in Johannesburg and with offices in Cape these included abolishing work experience as a can afford to be bystanders, everyone needs to Town, Durban, Pretoria, Nelson Mandela Bay, East requirement for entry-level posts in the public contribute solutions.

The fund has R1. Through of around R2-million. Among the beneficiaries is Promise Machimane, the through the beautiful game, which is exactly what founder of Mia Sanitary Towels. Savant is a commercially-focused hardware Originally operating from a single Cape Town technology incubator and fund that provides Incubator programmes site, Fives has now grown to 18 football centres bespoke business development support to countrywide.

That we are creating jobs innovative science and engineering technologies. Another facet is the creation of and economic growth in Africa and the cost, high-quality sanitary pads. Machimane has since made several open 25 sites by By the end of , Mia Sanitary Towels needs to be done.

SMEs create the jobs we need the most. Mixing funding with mentoring and incubation is the right approach to growing black- owned businesses. Fives Futbol currently operates across five provinces and aims to be present in seven provinces and to open 25 sites by Another government-led initiative, the Jobs Fund, was set up as a presidential project in to co-finance projects by public, private and non-governmental organisations that will significantly contribute to job creation.

This involves the use of public money to stimulate innovation and investment on behalf of a range of economic stakeholders in South Africa. We strive to set the standard for quality, Pfizer contributes to local The Unjani Clinics are based in the communities, ensuring safety and value in the discovery, development charitable programmes that the services are delivered at the point of need.

For more than Africa. For example, in , Pfizer partnered their life. This includes discovering and developing years, Pfizer has worked to make a difference with the South African Department of Health high-value therapies and working together to for all who rely on us.

Committed to our communities cryptococcal meningitis and oesophagal candidiasis. Eighteen years into the programme, which will enable the manufacturing of a valent we live and work, committing a range of resources South Africa has 1 sites, accounting for almost pneumococcal conjugate vaccine at its facility in — people, expertise and funding — through 50 per cent of all the sites globally; with 1.

The technology transfer process has partnerships to broaden access to medicines and units donated in South Africa. It will also contribute to continued security Masters and PhD students for combatting and of supply of the pneumococcal vaccine, thereby developing new interventions in HIV, AIDS, and on strengthening local healthcare systems and continuing to make a significant impact in the TB.

To date, the following students completed building capacity, including through primary reduction of childhood pneumonia in South Africa. For example, Pfizer remains graduates; and 7 MSc graduates. While Pfizer remains a key investor of the Unjani Clinics private and public hospitals and clinics exist, there network, an enterprise development initiative that are too few to deal with the increasing healthcare empowers black female professional nurses to own burden and private healthcare is too expensive and operate their own primary healthcare clinics in for the majority of the population.

By drawing these patients away from government facilities, it frees up capacity for government to deal with the unemployed and destitute portion of our population. To date, Pfizer has funded three clinics with a fourth clinic underway and also donated over 57 sonar machines basic Mindray DP10 Ultrasonic Diagnostic Imaging Systems to the clinic network; and provided further funding for certified training for the clinics in the network. At Pfizer, we are committed to collaborating with stakeholders who share the same ideals to support and expand access to reliable, affordable healthcare to those most in need.

In , they recorded 81 visits. A toy library trailer is towed by the mobile clinic on its visits to 35 villages a month. At each stop, a facilitator engages children under the age of ve, who are waiting with their parents and guardians, in play-based learning sessions.

Over million learners, predominantly in disadvantaged, underserviced and densely-populated areas worldwide, are infected with parasitic worms. The three- phase programme targets learners from Grade R to Many public health facilities in the county are in a dire state: in need of maintenance, Grade 7 at quintile schools no-fee schools across refurbishment and, in some cases, replacement.

Accordingly, the department plans to invest R This will be supplemented by the health facility revitalisation component The innovative service delivery model empowers of the national health insurance indirect grant, which is managed by the department on nurses and clinic owners to become community behalf of provinces and has an allocation of R4.

This is intended to strengthen tertiary financial management and patient service training. The initiative aims to grow its network of clinics and as many as patients by the end of More than will be used to improve the nearby Pietersburg and Mankweng hospitals. Management subprogramme is set to increase at an average annual rate of 6.

The dedicated space helping in the fight against pneumonia in South truck drivers, commercial sex workers and for treating and managing serious burn cases has Africa. This public-private partnership aims to re- communities at large. The programme is facilitated also offered the opportunity to maximise the use of establish domestic manufacturing of human vaccines by a network of mobile and fixed roadside wellness plastic surgery, physiotherapy, occupational therapy in order for southern Africa to be able to respond to centres on all major trucking routes and across South and microbiology, and has facilitated research into its own vaccine-preventable diseases.

The partnership will deliver benefits in terms the diagnosis, treatment, care and support of primary of technology and skills transfer; local investment health concerns. More than children and over adults are and increased economic activity; a reduction in treated in the respective sections at the facility each the pneumococcal burden of disease, and quality Mercedes-Benz South Africa MBSA has year.

It has seen over 18 admissions throughout its and safety benefits in the areas of manufacture, been involved in the Trucking Wellness Programme existence, and more than 14 surgical procedures distribution and supply. Wellness Programme as an element Keeping the economy moving of the project since The programme assists fleet owners As an Unjani Clinics partner, Pfizer is currently in the as an initiative of the National Bargaining Council for to better understand, identify, prevent and manage process of sponsoring its fourth clinic, and, through the Road Freight and Logistics Industry NBCRFLI , the risks associated with ill health and disease in the the Pfizer Foundation, has donated over 57 sonar is a primary healthcare delivery system dedicated to workplace.

It aims to improve healthy lifestyle choices machines over the past three years, and provided serving the health and wellness needs of employees in to manage and reduce the business risks associated funding for the procurement of printers, trolleys and the road freight and logistics industry. Over the course of 20 years, the programme To date, it has reached over 6 employees in The sonar machines have played a major role in has evolved into a sustainable model of primary the sector.

Almost a quarter increased from 31 per cent of corporate social feed an estimated population of 73 million people. Before receiving assistance, cent in , according to research conducted have support, and the bigger players are squeezing the only 33 per cent of the food needs of the beneficiaries by CSI consultancy Trialogue.

Food security and smaller ones out of the market. The report also states were always met by the community food gardens. After receiving assistance, this increased to 80 per cent and received nine per cent of CSI expenditure in For households, this Food garden measure increased from 37 per cent before assistance The Towards measuring the extent of food security was received, and 76 per cent after.

Most of the hungry live in could easily account for a quarter of food needed. Our core According to the report, families who turned to 71 community food security projects, 16 school food focus areas are food security, water security, poverty subsistence farming to supplement their income gardens and 1 households were given a suitcase alleviation and education. An impact evaluation found that 78 per cent Over the past four years, the company spent vulnerability to hunger of rural and urban food- of supported community food gardens, 93 per cent of Rmillion on its CSI projects.

In that time there has insecure households. A basket of food, tracked monthly by the National Agricultural Marketing Council shows the cost of basics, such as maize, sugar, polony, baked beans, milk, cheese and brown bread has increased steadily this year. In terms of this agreement, Afgri pledged Rmillion, spending Rmillion on emerging farmer development and Rmillion on community support over four years.

Today, the Rmillion investment in farmer training and development and related CSI initiatives has resulted in a meaningful contribution to the economy. In the past four financial years alone, AGH focused on food security, water security, poverty alleviation and education through CSI initiatives.

As with Afgri, Total SA looks at CSI as an opportunity In , it provided capital, equipment, training and The company has set itself a task to work on food for people to grow and to encourage them to become thousands upon thousands of spinach, tomato, security beyond its CSI budget. In , Afgri set self-sufficient. They also place huge emphasis on food and onion seedlings, and heads of cabbage and kale to up Harvest Time Investments HTI , a training and security and climate change.

Produce was harvested and cooked for the development programme focused on unlocking school nutrition programme. The company trained the potential of emerging black farmers through For the past 20 years, the oil and gas company and 37 teachers, learners and 37 community members training, development and mentorship. Two the Department of Agriculture, Forestry and Fisheries with accredited subsistence garden training.

Afgri also years later, Afgri further committed to assisting has been co-sponsoring the Female Entrepreneur drilled boreholes in six schools. The project has been the development of emerging farmers, as well as Award formerly the Female Farmer of the year so successful that schools have harvested bumper crops assisting other projects targeted at community and award. This year, Mmathoko Jarita Mabula won the and been able to sell excess veggies. The project was started in with four production houses.

Our expanded with a further four houses. Mahlohonolo core focus areas are food security, water security, poverty Investments has 2 beneficiaries and employs 17 alleviation and education. Our vision is to drive food security permanent and 10 casual workers. Its 15 layers across Africa. Mabula won R that will be reinvested back into the business. She won in the category of the provincial leg of the competition and was overall provincial winner in Limpopo.

She went on to win the same category nationally. Historically, the farming sector has been in the control of white males, and the programme was to encourage more women to venture into farming. Many lessons around food, finding and providing food were learnt.

Female farmers are far more likely to share their produce with others and to support the less fortunate. Some of the farmers have become primarily focused on rural communities, townships, Shikwinya, head of impact, wealthy. We have now partnered with Old Mutual informal settlements and mining areas. It has Afgri Group Holdings; Sydney to offer financial literacy workshops. More people are able greater youth and women participation. Previously Total has ploughed money into school gardens.

Now important as more people become unemployed and they are working with farmers, who successfully as food becomes increasingly expensive. Children go to school hungry, how are they and mentoring to aspiring, previously disadvantaged meant to learn and excel if they do not have food? At developed in the areas of farm pro tability, nancial least here they get one meal a day.

Makonya of school food gardens from providing the skills says their community initiatives around planting and tools, such as seedlings for schools to be self- trees have morphed into food gardens. Now shows the importance we place on food security. In partnership with ownership and the Land Bank has been working the Gauteng Provincial Department of Economic steadily to ensure farmers are given the correct skills Development, Agriculture and the Environment, it to ensure prosperity.

It is training up farmers as part of a long-term strategy. Our project activities communication, Sydney Soundy, says they have provide a platform that exposes young people to both a R5-million CSI budget to upskill and provide resources to households to improve food security and reduce vulnerability to hunger.

Yes, we encourage our social communities around our 47 sites be the conduit for real socioeconomic impact and partners to connect with as many other corporates across South Africa extremely seriously. We sustainable change. It is through remain encouraged and positively overwhelmed partnerships and working together for social good by our social partners who share the same passion. Capacity building of our social partners that we will be able to shift the dial and accelerate Without these social partners, none of our work will be achieved through our newly developed the pace of development.

Potchefstroom Tiger Brands has been actively involved in areas of governance, compliance, business skills, the corporate social investment space for over a community enterprise development, bookkeeping, decade, providing access to food for thousands of and other similar skills. However, the pace of job creation and economic development required in The NGO Accelerator Programme is an South Africa led to the decision to do more than incubator to build professional, globally compliant just provide food donations.

We found we could NGOs that can be self-sustaining businesses with move faster by enhancing the capacity of all our access to capital and relevant business networks. NGO partners to support the sustainable economic It is truly a flagship project to build food-secure, inclusion of previously disadvantaged beneficiaries. Through our socioeconomic development SED We believe that by capacitating our partners initiatives, we aim to encourage an integrated, in this way, they will be able to run sustainable, supportive approach to social investment within an efficient and financially successful operations.

They are run by passionate and dedicated community leaders — often women — in the best interests of our people. We believe that by directly empowering them we can sustainably uplift communities. A DV E RT OR I A L Research-led approach At present, Tiger Brands has relationships with 20 NGOs across South Africa, through which Earlier this year, we conducted an extensive we reach 30 families and 4 university social mapping analysis in eight of our host students on a monthly basis, impacting communities to understand the community needs the lives of more than people.

We and assets, identify stakeholders and formalise foresee our community enterprise approach the relationships required as part of enabling our stimulating economic activity and reaching NGOs to establish proper governance processes. Based on this, we co-created real impact We dream of seeing at least one individual programmes with the community NGOs to in every household who has been capacitated address the challenges on the ground.

So, we will continue responding to gardens. The vision is to stimulate these partners calls for support in these instances. Tiger Brands has relationships with 20 Our socioeconomic development strategy is NGOs across south africa, still in its early stages, but already we are seeing through which we reach 30 encouraging progress.

We are fortunate to work families and 4 with amazing partners who share our vision. It is university students on a not only about providing food security, but also monthly basis, impacting about stimulating economic activity — primarily in the lives of more than the food space. For each programme developed, we build an Community enterprise development requires exit strategy to ensure our NGO partners become a deeper commitment from corporates — and self-sufficient and enable us to move on and reach more financial resources — than a simple more communities.

As much as possible, we will try donation. But such an investment builds and build pathways for our beneficiaries into Tiger longer-lasting social impact by giving NGOs Brands supply chain and business networks. For the tools to be more self-sufficient and by example, it is possible that the herbs, which can be creating empowered communities that can grown at our NGO partner community farms and do more.

In the words of the well-known proverb, we are teaching people to fish. We believe this approach of empowering communities through skills, network and market Nozicelo Ngcobo 4th from left with her team access will make them less reliant on government and corporate partners over time. Ultimately, we would like to see community enterprises reaching a stage of self-reliance where we can phase ourselves out of the relationship.

He was Deputy Dean of the faculty of Education from Peter reached He completed his degree in and enlisted in the South African Engineer Corps with the lower rank of sapper. He obtained the rank of major and upon demobilization in was awarded the Military Cross for gallantry.

He was also awarded four campaign medals. Once home he worked at various mines, until in he ended up at the head office of Union Corporation where he rose to he position of managing director and eventually executive chairman. He was still the chairman when it merged with General Mining, another giant of the South African mining industry, to become Gencor. Outside his business career he contributed significantly to South African society and industry working on the councils of Wits, Pretoria and Port Elizabeth Universities.

He received many awards and accolades, including an honoury doctorate from Wits and was inducted into the Top five businessmen in Marguerite completed her BMus at Wits in , and after spending a year taking master classes in Germany she completed her Higher Diploma in Education at the Johannesburg College of Education.

She taught french, music, afrik ns and history at various high schools in Johannesburg before becoming active in early childhood education with the Yamaha Foundation for Music. She later lectured to student teachers, first at the Johannesburg Nursery School Training College and later at the Johannesburg College of Education before joining the School of Music at Wits in , as a lecturer of music methodology for class music. She retired from Wits in , having played a leadership role, rallying support and actively participating in initiatives seeking to re-position the School of Music within a sustainable niche.

Marguerite established an excellent reputation on a national level through her contributions to music education. Believing that denying children full access to the arts impoverishes their minds, Marguerite stressed that music is a highway for exploring the emotional and aesthetic dimensions of experience.

She pointed out that music helps us learn a significant lesson: that all aspects of life are not quantifiable. Marguerite was committed to community outreach programmes, one of her primary objectives with her students being to arouse their interest in community projects. In , Marguerite was awarded a doctorate posthumously for her dissertation towards a Philosophy of Music Education in South Africa.

Her aim was to establish if it could be possible to bring the diverse musics of South Africa together in an intercultural music education philosophy for South Africa. She believed that when children learn to enjoy the music of others, and by drawing community members into the music-making process in a genuine way, nation building will be fostered. From she had progressively become reliant on permanent supplemental oxygen due to bronchiestasis, but Marguerite remained active through sheer energy and determination until her death in April She had an extraordinary ability to remain positive amidst the most adverse of lifes circumstances.

She loved the simple things that made up the fabric of her life - her beautiful garden, her kitchen, her family and her friends. Peter John Roberts, principal tutor in the School of Mechanical, Industrial and Aeronautical Engineering passed away on 24 September after a severe illness. In his eulogy Prof Snaddon described Peter as a bright, enthusiastic, optimistic collegial friend- a person who was a team member, a person who cared.

He was sensitive to other people, a person who could be completely trusted. His passion was for his students and he would try to see the best in all. Born in , he graduated with a Bachelor of Science in Engineering in Ken Addison was born in Salisbury in the then Southern Rhodesia. In , he volunteered for military service and served in East Africa and Burma. In , Ken and his family emigrated to Queensland Australia. He worked as senior agristologist for the department of primary industries and was the officer in charge at Brian Pastures Research Station in Gayndah, Queensland until his retirement in Ken passed away on the 4th September Born 22 December in Pietermaritzburg, Akerman matriculated from Michaelhouse.

In addition to a medical degree, he held Red Cross first aid and nursing certificates and a pilots licence. He specialised in anaesthetics then practised in Durban in the sixties. He married Pamela Reardon in and they had two children. The family returned to England where Akerman studied histopathology, becoming a Fellow of the Royal College of Pathologists in He published extensively in conjunction with the Natal Medical School and, at his retirement in , was department head at both Addington and the Natal Regional Laboratory Services.

Charles John Adkinson Barrat was born in a small village in the Transkei. He was appointed director of the SAIIA in where under his guidance the institute began to flourish with a growing reputation for objectivity, with an educational role and an important research programme. In he was appointed as an honoury professor in International Relations at Wits University. Arthur David Bensusan died at the age of 85 while in New Zealand.

He was a world-renowned authority on the history of photography and the founder of the Bensusan Museum and Library of Photography at Museum Africa in Newtown, Johannesburg. After matriculating he became a medical student at Wits University but in joined the South African Air Force as a photographer.

After the war he returned to medical school, qualified as a doctor and worked as a general practitioner. In he founded the Photographic Society of Southern Africa. He was invited to join the London Salon, an elite group of photographers that included the great Canadian photographer, Yousuf Karsh.

Bensusan headed the photographic division of the Wits medical school and lectured on the use of photography in medicine. In the s he invented the first instantaneous X-ray, which allowed for the immediate diagnosis of people involved in accidents. He made two documentary films. One which followed the fortunes of a man who became a paraplegic after an accident became the first South African documentary to win a prize at the Cannes Film Festival.

On the 16th November last year my mentor, colleague, friend and prayer partner was brutally murdered by thugs abusing drugs in the Rondebosch CT area in the early evening of a Friday. This after serving a total of 30 years of employment at Wits Law School.

A keen legal mind, a kind and generous heart, especially to his students, Mike Larkin was an authentic gentle soul that brought light, hope, peace and love to all who knew him. The week in which he died, Mike and I spoke daily over the phone. He was advising me with a legal problem I was currently experiencing at my place of work.

Two things stand out in my memory with regards to what he said. The first was his probing question, "Is this being done to you in good faith or bad faith" This was Mike the legal mind cutting to the moral and evidential chase. The second was his apt turn of phrase. The night before he died, referring to the exam scripts which he was busy marking, I asked him, "Is there no one who can assist you in marking the exam scripts?

Mike was partially sighted and marking exam scripts was a particularly arduous task for him. Is this why he had deliberated so long and so hard about moving to the Cape? He would have walked with purpose on that early summer evening with the haversack full of exam scripts slung over his shoulder. He was going to evening Mass. He was only a hair s breadth away from the sanctity and safety of the church s grounds when he met with his untimely death. The prospect of meeting with his Maker, if not in the eucharist then in death would have brought him consolation.

He enjoyed Ignatian spirituality and often quoted the consolations and desolations of the Ignatian Spiritual life. He would knowingly surrender his life in order to safeguard those exam scripts that held the key to the future of his beloved LLB students.

A memorial tea in remembrance of Mike Larkin was held in Johannesburg on Sunday 16th November attended by a few close friends, colleagues and prayer partners. To celebrate his life a scripture from John He strived to establish excellence in Vascular Surgery and initiated the establishment of what was to become the Winnipeg Vascular and Endovascular CME Symposium in In he graduated with a Bachelor of Commerce degree and returned to the JSE where he was offered a position as a tea boy.

In he became a practicing member of the JSE. He was president of the JSE in and again from Richard loved animals and bought a farm which is today known as Innesfree Farm close to the M1 in Sandton. In he donated all but 25 hectares of the farm to the former Sandton Town Council to be used as a botanical garden. Richard Lurie died in Johannesburg aged Neville was central to the emergence of radical white student opposition to apartheid in the early s and was banned by the government in and fled to Australia a year later.

Eyvind Finsen passed away on Thursday, 1 November Eyvind was born in Johannesburg on 26 June and after matriculating at KES, he studied at the University of the Witwatersrand, obtaining a BArch degree in , and a post-graduate diploma in Town Planning in He excelled early on in his career, when in he won the first prize in the Vereeniging Civic Centre architectural competition in association with Guy Andrews and Crawford.

Eyvind was passionate about education and continuous professional development, and presented training courses for the SA Institute of Architects since and organised and presented Correspondence Courses on Arbitration for the Association of Arbitrators Southern Africa since He presented numerous seminars on the building contract throughout South Africa and in Namibia over the years. Eyvind was elected to numerous positions of leadership over the years.

He was Chairperson of the Association of Arbitrators Southern Africa for a record thirteen consecutive years and was appointed Executive Director of the Association from He was elected a Life Member of the Association in He was the President of the South African Council for Architects for two consecutive terms from to , and remained on the first Council which was appointed in terms of the Act for the Architectural Profession serving until His interests were however wider and he served as a Town Councillor of Sandton from , and was a member of the Management Committee from He also served as President of Convocation of the University from to Re-printed with kind permission from the SA Institute of Architects.

Gary Frisch, the computer entrepreneur who established Gaydar the dating website died on 10 February At the time of his death the website had more than 3. Frisch was born on 22 January and attended Boksburg High School.

After matriculating he went on to study computer science at Wits University. After graduating he set up his own software company, Frisoft Software. First appointed in as a junior lecturer, Prof Fisher worked his way up to become Chair of Psychology in and served as acting Head of Psychology from to and then eventually Head of Psychology from to He was widely published in national and international journals, with a strong focus on the well being of employees in the workplace.

He served on the founding Executive Council of the Ergonomics Society of Southern Africa and served as a managing editor of the accredited journal Ergonomics SA from to Prof Fisher served on numerous University committees and was a member of both the University Senate and Council. He was an active member of his community, the chair of his local agricultural society and was also a Tai Chi instructor. A psychology major, Graff was one of few women to serve on the SRC.

She completed an LLB and then practised as an attorney. In the Law Faculty dean invited her to transform the voluntary law clinic into a fully fledged unit which she undertook with zest over the next decade. Aspirant attorneys served their Articles there, gaining practical experience and providing legal services to the indigent and those prejudiced by apartheid.

Graff retired in having built the clinic into a model copied by several local faculties. She continued to consult to Wits on matters of student discipline. He was involved in the industry on various levels. Professor Frikkie Van Reenen passed away after a short illness on Saturday, 8 September in George where he was in retirement. After qualifying as a dentist in from Wits, Frikkie spent a year in London as a National Health Dentist and returned to South Africa in , when he opened a private practice in Pretoria where he first became involved in dental education as a visiting lecturer at the Dental School of the University of Pretoria.

During his time he made major contributions to dental education and dental research, particularly in the fields of prosthetic dentistry, anthropology and oral microbiology. The Journal of the Dental Association of South Africa was a special commitment and interest for Frikkie and he was honorary scientific editor for more than twenty years.

He was a founder of Von Holy Consulting and well known in the FMCG sector for his work as a food safety consultant, trainer and auditor. He was a pioneer of formal adult education and in-service training on food quality, hygiene, and sanitation and food microbiology. He is survived by his wife, Corene and their three sons. Alex Walker was born on 13 September in Motherwell, Scotland.

He attended school in Gloucestershire, England and graduated with a BSc degree from the University of Bristol with majors in chemistry and physics in , followed by an MSc from the same university in , followed by a diploma in education. In he came to South Africa where he joined the Johannesburg Municipal Department of Health as an analytical chemist assessing water sewage and eventually the metabolic process and value of various food types. In he obtained a PhD from the University of Cape Town where his research included dietary, biochemical, haematological and other studies on population groups affected by disorders and diseases associated with malnutrition and prosperity.

His contributions to research in nutrition led to him being awarded a DSc by the University of Cape Town. He published over articles, letters and editorials, with at least of these were published after he turned Born in Johannesburg, Warren matriculated from Jeppe Boys High and studied medicine at Wits, where he was president of the Students Representative Council, the Students Medical Council and a founding member of the squash club.

It was while working as a GP in South West Africa Namibia that he became interested in the emotional problems encountered in general practice. He returned to Johannesburg to specialise in psychiatry and spent his final thirty years as a psychoanalytical psychotherapist, working from rooms at his home in Parkmore.

Warren also held diplomas in public health and industrial medicine. Dodson s lifelong love affair with type and typography began just before the Second World War at the Kingston College of Art, where as an architectural student he discovered letterpress printing, and devoted the rest of his life to its practice and history. In , on the recommendation of Francis Meynell, he succeeded Harry Carter as Head of Layout at Her Majesty's Stationery Office, which at that time was setting worldwide standards for the design and printing of government publications.

Five years later he went to live in South Africa, where he taught typography at Wits and later at Johannesburg Technical College. In he returned to England. Alan died in Malvern, Worcestershire on 10 January Dr Avraham Eidelman qualified as a doctor at the University of the Witwatersrand in Born in Kovno in , Avraham aged five arrived with his parents in South Africa and grew up in Mayfair, Johannesburg.

Starting as a young doctor in Assaf Harofeh, Israel, he specialized as a surgeon in urology and eventually worked his way up to be head of the Urology Department. He held this position for 21 years. After his retirement, he served as Assaf Harofeh for almost the next 10 years as a part-time surgeon and consultant. Apart from his medical talents he had interests in other fields. Avraham died on the 15th April after a long illness. Cora Erasmus was born and educated in Johannesburg.

In she was appointed as the Chief Medical Officer of Health of the City of Germiston, a leadership position that was unusual for women of her generation. Simultaneously she served as Professor of Social and Preventive Medicine at Wits, a position she held from In she returned to her position as MOH of Germiston, and she served in that capacity until she retired in Eybers's poetry was mainly in Afrikaans, although she translated some of her own work and those of others into English.

After completing her high school studies at the age of 16, she enrolled at the University of the Witwatersrand for a Bachelor of Arts degree, which she achieved cum laude. After her graduation she became a journalist. In Eybers married the businessman Albert Wessels, with whom she had three daughters and a son. Counted among the so-called Dertigers, she became the first Afrikaans woman to win the Hertzog Prize for poetry in She won the prize again in Her work received many other awards in both South Africa and the Netherlands, including the Constantijn Huygens prize in and the P.

Hooft Award in Eybers first collection of poems Belydenis in die Skemering Confession in the twilight was published in Her second collection, entitled Die Stil Avontuur The silent adventure was published in Die Vrou en ander verse The woman and other poems was published in while her fourth poetry collection, Die Ander Dors The other thirst was published in Imraan Sayed, a recent graduate of Wits University, was tragically killed in a motor vehicle accident that occurred on 22 December Imraan enrolled at Wits University in and completed his BA undergraduate in , majoring in Geography and Archaeology.

In he did his Postgraduate studies in Human Geography and would have graduated on 17 May Imraan was passionate about cricket and by the age of 18 was already playing Premier and President's League cricket for the Lenasia Cricket Club.

This passion began at age 5 when he could be seen playing cricket in Lenasia's Pegasus Street. He never missed a Saturday morning for Baker's mini cricket. He represented Lenasia's under 13 in various cricket weeks and captained the under 15 teams. In he participated in the Beckwith under 19 cricket week. Imraan played in his final match on 11 December Bruce Sephton died in Derby, England on 1 June aged After matriculating from Dale College in he enrolled at Wits University to study mechanical engineering.

After graduating in he went to the UK to take up the position of rail transport expert in the services of the then Federation of Rhodesia and Nyasaland railways. In he married Betty Worsley. Their married life began in Rhodesia where their children Anne, Craig and Claire were born.

In the 's he was sent to the UK as the supervisor of the team that introduced electric locomotives to the Rhodesian Railways. He later joined Brush where he remained until his retirement in Robert Simmons passed away in his sleep on the 7 February He was the first deaf person in South Africa to matriculate and the first deaf person to obtain a university degree without an interpreter.

While employed at Wits he lectured in anatomy to students in the medical, speech pathology and audiology fields. Sheila Spitz BA died in Jerusalem in , aged Born 30 January , Spitz completed an undergraduate degree in history and economics. She was involved in charities locally and in Israel. At Wits he was appointed to research Local Government. Copper le May recruited him to lecture in the Department of Political Science. After his retirement from Wits he spent 15 years writing book reviews for the Financial Mail, and then worked for Van Hulsteyns as a part-time conveyancer.

He was a scholar, a gentleman, and a much loved friend. Ellison Kahn passed away on Saturday, 13 October , after a period of severe illness. He served in various capacities at Wits including as the Dean of the Faculty of Law, as Deputy Vice-Chancellor of the University and as the longstanding chairperson of the Constitution Committee.

His outstanding academic record led to his appointment as the editor of the South African Law Journal in which capacity he served for more than 30 years. A stalwart in the School of Accounting in the sixties, King was a sympathetic lecturer to his first and second year students. He read prodigiously well beyond his subject area and was known for his exceptional friendliness and sympathy. His son is an accountancy alumnus and his grandson a student in the same field.

Craig was born in Johannesburg on 23 December He matriculated from Greenside High School in He studied civil engineering at Wits aided by a university scholarship and a bursary from Arup. He was awarded the Jere Jenkins prize for the top student in first year.

He graduated from Wits in and began his career at Arup. At the end of he went on a camping holiday around the wild coast and had arrived at his final destination, Port St Johns. On 2 January he visited the blowhole at the gap with his friends accompanied by a municipal guide. He was lost trying to save the life of the guide who had fallen down the blowhole. A legendary headmaster, the "Boss" as he was affectionately known, was highly respected and well-liked.

He was a passionate and committed educator, reflected in his comment in the school magazine: Send us only those children who want to come to boarding school in general and to Capricorn in particular and help us make them happy and proud to remain here and we shall do the rest. Harman's attitude to teaching was again exemplified in when the commented in that year's school magazine that, To be in the hurly-burly or school life, to watch growth of all kinds; these are what makes teaching worthwhile.

Harrison, 41, completed his internship at Tygerberg Hospital in , after which he worked as a mine medical officer for JCI for five years, followed by five years as a GP in Letsitele. Professionally, Harrison was an astute clinician, always up to date with the latest literature and extremely well read.

He was a lifelong student, having obtained in the s no fewer than four Wits diplomas in tropical medicine and hygiene, occupational health, health service management and public health respectively. Following his passion, Harrison re-entered the field of occupational medicine in , working first as an occupational health consultant for Anglo Platinum and then for Lonmin.

He also held a diploma in infectious diseases from the University of London. At the time of his death Harrison was pursuing his Masters degree in occupational health through the University of Manchester. Harrison is survived by his wife, Frances, and older son, Luke. The former head of religious studies at Wits was a world-renowned authority on anti-Semitism and a campaigner against prejudice and injustice.

Born 7 December , Hellig matriculated from Johannesburg Girls High, then completed degrees in religious studies and teaching. She married Dr Michael Hellig BDS , MDent in and taught at high schools in the early sixties while raising three children, all of whom are Wits graduates. She returned to Wits in lecturing on world religions, obtaining her PhD in and serving as department head and honorary research fellow in the nineties.

A prolific writer, Hellig? She curated the Seeking Refuge exhibition in association with the Goethe Institute focusing on German-Jewish refugees who settled in Johannesburg in the thirties, and was involved in the establishment of the Johannesburg Holocaust Centre. He completed national conscription in the navy before enrolling at Wits and graduating with first-class honours in history and English.

The political policies at the time obligated him to cut his ties with his homeland although he remained a vigorous protester against apartheid while abroad. He lectured modern British history at the University of Melbourne until his retirement in He is survived by his mother and siblings. Born 13 September , Pincus worked as an orthopaedic surgeon at Chris Hani Baragwanath Hospital after graduating, serving on the teaching staff for over twenty years.

A Fellow of the Royal College of Surgeons in England, Pincus most recently taught in the faculties of medicine, dentistry and physiotherapy at Toronto University in Canada. He was a visiting lecturer in architecture and building science. Pitt served on a number of boards including that of the Urban Foundation and he held a variety of directorships.

It was there that his interest in auscultation and phonocardiology was aroused, an interest he actively pursued throughout his career. He was an acknowledged leader in cardiology and was perhaps best known for his work on the aetiology and significance of late systolic murmurs and mitral non-ejection clicks which he showed to be usually due to billowing of the mitral valve. He also described several associated features, including mild mitral regurgitation, ECG changes and arrhythmias.

Now universally known as Barlow's syndrome, his original paper on this topic which appeared in is the second most cited paper ever published in the British Heart Journal and in was identified as a Citation Classic by the Institute for Scientific Information. Professor Barlow had an ongoing and major interest in rheumatic fever and rheumatic heart disease and was actively involved in a major epidemiological study of the prevalence of rheumatic heart disease in the school children of Soweto undertaken by Dr Margaret McLaren in the early s.

He received an MD from Wits in for a thesis on late systolic murmurs and non-ejection systolic clicks, and in he was elected FRCP. In recognition of his many outstanding contributions, Wits appointed him as Professor of Cardiology Ad Hominem in He retired in but continued to see outpatients, consult and supervise registrars for the next 18 years, right up to a few months before he died.

On behalf of the Faculty and ourselves, we extend our deepest sympathy to Professor Barlow's sons, Richard and Clifford, and their families. He was 87 years old. Born in Villiersdorp, Barnard received the first scholarship for apprentice electricians awarded by the Johannesburg City Council. He studied further in England after receiving his undergraduate degree and later, a diploma in township development from Wits. Barnard went on to become City Electrical Engineer of Johannesburg, retiring from the City Council in after more than 41 years of service.

He chaired the Association of Municipal Electrical Undertakings from to and was the first electrical engineer to serve on the Electrical Control Board, from to Barnard travelled the world as part of his service on national and international electricity advisory boards. His other accomplishments include scoring two holes-in-one in golf and qualifying as a bowls umpire in Behr commenced his studies at Wits in and was elected cheerleader by popular acclaim in He graduated from Wits with a BSc Eng Mining Geology degree and worked briefly with the Geographical Survey, after which he went into private practice.

Behr was a respected consultant involved in exploration work throughout South Africa, Botswana and Namibia until the time of his death. He is survived by his wife. He also taught at Harvard Medical School during this time. Braudo subsequently moved to Toronto, beginning a long association with the Hospital for Sick Children. Braudo then practised privately, specialising in paediatrics and clinical paediatric cardiology in and continuing in this field for some 40 years.

An art connoisseur, Braudo acquired an extensive collection of modern paintings comprising South African, American and Canadian works and one of the largest collections of indigenous Canadian art. He travelled extensively, visiting remote places such as Antarctica, eastern Turkey, Ethiopia and Libya, and frequently visited his native South Africa. Acutely aware of the importance of his initial training and education at Wits, Braudo was a generous benefactor to the Faculty of Medicine.

His legacy both at Wits and in Toronto is entrenched and he inspired many in their careers as doctors, healers and caregivers. Braudo never married but left a multinational network of colleagues, friends and family members who remember him with great fondness as a remarkable individual. He was 38 years old. Lockwood will be remembered as a young academic with a brilliant record, a deep understanding of the South African research landscape and an ability to inspire young people.

He was 69 years old and lived in Ireland. Watson was a botanist, zoologist, biologist, anthropologist, ethologist and author of many new-age books. He was intent on making sense of natural and supernatural phenomena in biological terms. Born in South Africa as Malcolm Lyall-Watson, he had an early fascination for nature in the surrounding bush. After attending Rondebosch Boys, High School in Cape Town, he enrolled at the age of 15 at Wits, where he earned his undergraduate degree.

An apparent polymath, Watson was director of the Johannesburg Zoo at 23 and subsequently became a producer of documentaries on sumo wrestling and paranormal phenomena at the BBC the period during which he adopted Lyall as his first name , an expedition leader and researcher in Antarctica, the Amazon River, Seychelles and Indonesia, the Seychelles commissioner for the International Whaling Commission, and founder of the life science consultancy, Biologic of London.

Describing himself as a scientific nomad, Watson considered conventional science simply inadequate to explain much of human experience. In the s he wrote books on a wide variety of topics, of which Supernature , a worldwide bestseller exploring phenomena such as ESP, psychokinesis and telepathy in nature, Gifts of Unknown Things and Lifetide are among the best known. Watson was married three times. His first two marriages ended in divorce and his third wife died in His niece, Katherine Lyall-Watson, recalled a quote that summed up his attitude to work and life: I live and work alone and travel light, relying largely on my memory and making a point of letting intuition guide my way.

He is survived by his brothers Andrew and Craig. He retired from this post in January He served as a Senator of the College of Medicine of South Africa for more than 15 years and as its Honorary Registrar for three years. He chaired the College's Examinations and Credentials Committee at the time of his death.

A pioneer in the field of osseointegrated implants, Prof. Lownie contributed significantly to the profession. He trained a generation of maxillo-facial and oral surgeons, initiating transformation through training black students in this field before it became an official requirement. Lownie was a man of principle and high standards. He led from the front, doing what he expected of others.

He was an ideal academic, combining clinical practice with research to produce evidence on which to base patient care, an activity that produced a steady output of publications, including one in when he was very ill. He was a longstanding Honorary Research Fellow in the now-defunct Dental Research Institute, jointly supervising 16 Masters degrees and publishing 12 scientific papers with colleagues.

His booming voice and infectious laugh will be missed. Born in Sweden, Luck relocated with his family to Kenya in He returned to Sweden at the age of 12 to be an apprentice to a blacksmith and carpenter, received a Swedish matriculation and then came to Wits to study medicine, thereafter specialising in physiology.

Luck married in and took up the Chair in Physiology in the new pre-medical course for students at Fort Hare University. Three years later he took up the chair of physiology at Makerere University Medical School in Uganda. Here he became increasingly involved in animal physiology as big game parks in western Uganda were being established and the efficient tranquillising of game was required.

Luck established a research team that undertook drug-darting experiments that culminated in the use of M99 and its antidote, a breakthrough in large animal tranquillisation. In the s, Luck developed his vision for a mobile field laboratory, the first of its kind in East Africa, drawing researchers from the USA, Scandinavia, Germany and Britain. In the late s, Luck took up the chair of physiology at Wits Medical School.

He moved later to the Wits Dental School, where there was more scope for the animal research he sorely missed. Here he pursued studies of fruit bats, keeping a roomful of them in his department! So enthusiastic was he that five PhDs on the unique metabolism of these creatures were produced by his department.

Luck maintained his interest in carpentry and wrought-iron work throughout his life. In his fifties he learned Spanish in order to hone these skills under a Spanish master smith. He retired at 60 and set up a forge and carpentry shed from which he produced doors, balustrades and gates.

He established a carpentry school and took on apprentices in wrought-iron work. Active in his forge until the age of 80, he was still working in copper at the age of To the end of his life he remained a teacher, ever willing to share his knowledge and enthusiasm with anyone who truly wished to learn.

Ashley Callie was tragically killed in car accident on 15 February After graduating in , Callie appeared in a number of television productions including Uninvited Guest, Homeland and Natural Rhythm. In she played in the Pieter Toerien production of Things You Shouldn't Say Past Midnight for which she was nominated for best actress in a comedy.

In , she appeared in the international film. The Surprise. Callie is survived by her parents Graham and Claire, sister Lauren and brother John. Born 12 November , Conacher studied geography and sociology. He held a teaching diploma and dedicated his life to education. He is survived by his three children. Cowan was born 9 April He died at the age of Three years later he studied medicine and married Edna Ostrowiak after graduating.

He joined State health in and then studied anatomical pathology. He was senior pathologist at the SA Institute of Medical Research for thirty years and discovered the endemic nature of a particular disease.

This was the focus of his PhD. In he and his wife founded the Readucate Trust to continue the work of the Rebecca Ostrowiak School of Reading established by his wife and her mother in Freinkel is survived by his wife and four children, three of whom are Wits alumni. Born 27 April , Gavronsky was awarded the Henry St. Heime Geffen 3rd. August , passed away on the 27th October, , at the Hospice Niagara, in St. Catharines, Ontario, Canada, having fought bravely and to the end, against leukaemia.

Geffen graduated from Wits. He set up a Family Practice in Springs, providing service to all patients across the racial divides, and also administered anaesthesia at the Geduld Hospital. Because of his liberal and progressive political outlook, at times outspoken, he felt, and was threatened, by the ruling apartheid authorities. When the opportunity arose in to migrate to Canada, Dr. He quickly established a thriving Family Practice at the Community Group Health Centre, and became known widely for his thorough, excellent and accurate medical skills, as well as for his quiet, calming demeanour.

Geffen participated in local and regional medical administrative organizations, and rose to be the President of the Lincoln County Academy of Medicine, the Chairman of the Department of Family Medicine at the Hotel Dieu and St. Catharines General Hospital and then the Niagara Health System, when 7 regional hospitals merged under one administration.

He was also instrumental in setting up Pain Management Clinics, was a guiding force and fund-raiser in the establishment of a hospice for terminally ill patients, as well as establishing regional sexual assault services and an Urgent Care Clinic.

Geffen was an avid golfer and bridge player, and often had his life? He was also the Physician Examiner for Boxing Ontario, and had a passion for soccer, attending the World Cup in Germany with his son Martin, for three weeks, in Geffen continued making the headlines, even during the height of his final illness, as he responded, all but miraculously, with an almost two year remission from the leukaemia, following the use of Lifemel, a special brand of honey, from Israel.

Geffen was devoted to his family and his Jewish faith and was an active member of Congregation B? Nai Israel in St. Catharines, where he was interred in it? This was followed later by a ceremony at the General Hospital commemorating his medical career, and at which state of the art equipment was donated and dedicated to the Oncology department in his name.

Heime Geffen will be missed by his loving family, colleagues, and wide circle of friends. Born in Ermelo, then Eastern Transv l on 18 June , Goldberg matriculated from Ermelo High before completing his undergraduate and teaching degrees at Wits. He held teaching posts in Johannesburg and London and was the first male teacher appointed at King David School.

He married Musa Katz in and the couple had three children, two of whom are Wits alumni. As executive director of the Board in the eighties, he had the dual challenge of protecting the Jewish community while condemning apartheid. He retired in A prolific writer, he contributed to several publications and published Portrait of a Community: South African Jewry in After Grant completed Standard 8, he joined the South African Air Force as a fitter and turner, simultaneously pursuing further study and obtaining his matric, a technikon qualification and Wits engineering and applied mathematics degrees by Grant was the founder member and subsequently an honorary member of the engineering section of the Akademie vir Wetenskap en Kuns Academy for Science and Arts and was involved in the establishment of the South African Council for Professional Engineers, serving as a member on the first Council.

He was awarded the State President? Grant retired to his farm in Mpumalanga in the early s but re-emerged in to work on the vortex separation theory, which he developed over five years to suit the separation of silicon isotopes for the electronics industry. Grant is survived by six children, 18 grandchildren and one great-grandchild. She studied further, eventually qualifying as a psychologist. She specialised in treating children who had lost a parent and published extensively in this field.

Born in Johannesburg, Todes trained as a dentist at Wits but then emigrated to England in objection to apartheid. He retrained as a doctor and worked in Boston and at Harvard, where he held a teaching fellowship. He specialised in psychoanalysis and child psychiatry and did pioneering work in the prevention of illness and the promotion of health. In he married Lili Loebl and the couple settled in England. Todes worked with Anna Freud in her late father's practice in Hampstead until when they clashed over the best way to treat severely disturbed children.

Diagnosed at age 39, Todes devoted the remainder of his life to the pursuit of a cure. In addition to medicine, his curative efforts included the controversial transplant of live foetal cells into his brain, the infusion drug concoctions, acupuncture, spirituality and participating in a trial for a miracle cure at the Opus Dei hospital in Spain.

The last proved so unsuitable a regime that his wife smuggled him out through the laundry before dawn. Todes is survived by his wife and three children. He was born 24 March Vosdick Lindo Webb BSc, , former lecturer in the School of Electrical and Information Engineering from to and assistant in the laboratories until , passed away on 23 June , aged Born in Witbank, Webb matriculated with distinction and then made his way to the Big City in search of a job during the Depression years.

He was initially apprenticed as a plumber and tinsmith, but Webb's employer arranged a laboratory assistant position in the Wits Electrical Engineering Department after noticing his passion for all things electrical. His interest in electrical machines together with his exemplary academic record won him a Chamber of Mines scholarship for electrical engineering in Working part-time as a power station attendant and studying in the evenings, Webb graduated as an electrical engineer in Having been unsuccessful in joining active service in the war owing to poor eyesight, he entered the war supplies structure until he was recalled by the University to join Prof.

Goldsmith's secret war projects team. Although Webb never revealed what they were busy with, he regaled his family with tales of how they would stand guard with knobkerries as there were no spare rifles available!

With the cessation of hostilities Webb married a Canadian nurse in and then joined Wits as a lecturer in heavy current engineering and machines. Webb was responsible for establishing the Electrical Engineering Department's laboratory facilities to meet the demand for training created by returning ex-servicemen. These laboratories were his baby and he remained a central figure in their development and operation until his first nominal retirement in After a short sabbatical, the University recalled Webb to assist with laboratory supervision and external examiner duties.

He continued until his failing eyesight finally forced him, after 50 years, to bid farewell to his beloved machines in His empathetic style, dry humour and passion for his subject left lasting impressions on most of his students, together with the memory of his hallmark phrase, Now then gentlemen, let's gather round and talk about this Webb was a devoted family man and handled his sons, nephews and nieces with the same educationally empowering approach he adopted with his students.

He contributed practically to his church and community, based on his life philosophy of when in doubt, do something for somebody. His family recalls some of his last words: It is the duty of engineers to help their fellow man, you know. Webb was an accomplished yet humble man devoted to teaching and the service of others and has left an enduring legacy. Born 6 December , Dische emigrated after graduating to specialise in paediatrics. She married pathologist Dr Frederick Dische in and worked part-time in schools and clinics in south London while raising her family.

She had remarkable success in the treatment of nocturnal enuresis nigh bed-wetting , an area in which she specialised. She was a recognised authority on the use of enuresis alarms and was in demand as a teacher and writer. He was Docrat was born 26 June He joined the office of the Public Protector as chief financial officer in , a post he held at the time of his death.

He is survived by his wife, parents and siblings. He was 88 years old. An enthusiastic hiker, he had been enjoying a hike in the Berg over the long weekend in April, , when an unfortunate accident resulted in head injuries.

After many months of hospitalization during which he experienced and rallied from many complications, he had finally started making real progress, when he broke his hip and died of an embolism following an operation.

Keith leaves his wife, Joy, two daughters Elizabeth and Claire and grandchildren. Joy and Elizabeth took turns caring for him in his final months. This illustrates his deep understanding and wealth of knowledge about biochemistry. He was able to explain complex concepts and I very much enjoyed his lectures which were full of insight and peppered with subtle humour. In , he came to South Africa and took up the Professorship of Biochemistry at Wits where he remained after his retirement as Emeritus Professor.

During his time there he was an active researcher and prolific publisher. These three papers alone have been cited times between them — quite a start to a career. His most cited paper was cited times. My estimate is citations in total or an average of He had 4 Nature scientific articles and one opinion piece. To everyone who interacted with him in various capacities, it was obvious that Keith had a very keen analytical mind. He could tease apart data and find new ways to address biochemical investigations and other problems.

He often brought fruit and vegetables and seeds from his garden to give to staff and students in the School of Molecular and Cell Biology. On the other hand, he very much enjoyed visits to the Ballet, Opera, and Orchestral concerts, all of which indulged his passion for music. To this end, he played the cello and sang in The Bach Choir and yet he remained passionate about Biochemistry. He enjoyed writing about the subject and unearthing and understanding the background to biochemical advances and gaining insight on the scientists involved.

He had recently been working on conceptual problems in Biochemistry and would source the earliest editions of papers sometimes requiring assistance from colleagues to translate from German. Keith also enjoyed travelling and architecture and was fascinated by other cultures, and of course continued to enjoy the camaraderie and physicality of hiking.

It took some explaining for him to be released. She was 35 years old. Born in Klerksdorp, she was the second of three children and the only daughter of Sally and Michael McLaren. She grew up in gold mining communities in Deelkr l and Aggenys and was educated at Potchefstroom High School for Girls, where she was a gifted academic and an Honours Roll student.

After matriculating in , McLaren pursued a degree in her first love, junior primary teaching, at Wits in She retired temporarily from teaching to focus on parenting after the birth of her son in During this time she established African Mother, a charity organisation that aimed to raise funds to secure the future of children born to HIV-positive women. During her treatment, she fulfilled the dream of a fellow young terminal patient by arranging for him to meet his heroes, several Springbok rugby players.

McLaren returned to teaching in , just months prior to her untimely death, and wrote a teacher's guide to developing children's self-confidence. A natural and brilliant teacher, a devoted mother and a spirited, intelligent, creative and compassionate individual, she was loved and respected by children and colleagues and made a significant impact on the lives of those she knew.

She is survived by her parents, her brothers, Shane and Brent, and her son, Ethan. He returned to Natal University as a lecturer in the early sixties and came to Wits four years later, where he would spend the remainder of his career. In he married Valda and the couple had two children. Moelwyn-Hughes took sabbatical leave to Stanford, Cambridge and Oxford universities to pursue chemistry research, and later to research staff development methodologies. He was actively involved in the Staff Association regarding conditions of service and teaching accountability.

He established the Staff Development Centre at Wits in the eighties and pioneered many of the teaching and employee procedures that are the mainstay of Wits today. He retired in and emigrated to UK following a pulmonary embolism.

He returned to Johannesburg in and settled in Hermanus in His legacy endures through his children and through the Wits Centre for Learning and Teaching Development. This distinguished alumnus and Wits benefactor held a BSc from the University of Fort Hare, and several honorary doctorates from American and South African universities, including Wits.

He was secretary of the ANC Youth League in the forties and, in the fifties, was arrested, twice stood trial with Mandela and was convicted and banned for five years. During this time he graduated, married and worked at Baragwanath and in private practice. He remained active in civic politics, serving as vice-chair of the Black Parents Association for which he was detained and as leader of the Soweto Committee of Ten.

The Committee,formed to run Soweto's affairs after the collapse of the Soweto Urban Bantu Council, was banned by the apartheid government on 19 October ,Black Wednesday. Although released the same year, Motlana was prohibited from attending meetings, refused passage to travel abroad and denied a passport for 31 years. He established a grocery shop and remained active in resistance politics in the eighties, campaigning against the Black Local Authority Elections. He pursued various business interests, including forming the first black-owned chemicals company, Africhem, establishing a uniform manufacturing company, Phaphama Africa and founding the first privately owned, black hospital in the country, Kwacha - later Lesedi Clinic.

Sizwe Medical Aid Scheme was formed concurrently, the first scheme to be owned and operated by blacks. He also formed New Africa Marketing to employ detained youth. He also served on the Wits University Council. He received the Financial Mail Lifetime Achievement Award for his role in business and community in He survived by his wife, six children, 11 grandchildren and one great grand child.

The first black Professor at Wits and the man who drafted the Freedom Charter clause, the doors of learning and culture shall be opened to all, Professor Ezekiel Eskia Mphahele died in Limpopo Province on 27 October The herd boy born 17 December in Marabastad in the former Northern Transv l only began school at 13 but would become a world-renowned author, educator and literary giant. He worked as a clerk at a school for the blind in the mid-forties and then taught at Orlando High in Soweto.

He resigned in protest at Bantu education enforced in the fifties. He then worked in journalism for Drum magazine but was forced into exile by the apartheid government.

Есть другой bykov trend forex Всё выше

Read More. How can we Help you? Macsteel Products. Macsteel Services. Industries Served. Macsteel Cash Sales. Macsteel Business Units. Macsteel Blog. Macsteel — Steeling ourselves for the future Macsteel Nov 19, Innovation through composite construction Macsteel Nov 18, First impressions create lasting impressions Macsteel Nov 06, Subscribe to our Blog.

Name Email. Product Search. More results Generic filters Hidden label. Hidden label. Search by Business Unit. This organization has been successful in forging alliances beyond the religious community: affiliated organizations include Amnesty International and New York City's Office of the Comptroller. We challenge ourselves and corporations to accountability for right relationships with all of creation. Social investors pursuing this type of rationale find themselves in the garden Adam Smith grew up in.

Social investors have typically heard about Adam Smith from their critics. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it … he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.

I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it. Although Smith was religious, this moral view is based on observation as much as revelation and one does not need to be of a particular faith to subscribe to it. Smith's economic and moral views therefore appear to be highly dissonant.

Should we be selfish or not? Smith must have been aware of this tension in his thought—indeed, he was immersed in it from the start of his education. Muller explains that:. At the age of fourteen, Smith was sent to the University of Glasgow [where he] first confronted the great issues which were to drive Scottish moral philosophy in the eighteenth century.

Yet Smith never fully resolved the contradiction. Perhaps he thought it intractable, perhaps he thought it sufficient to acknowledge that ethics and markets are both important, or perhaps he just ran out of time. Steven Lydenberg , the Chief Investment Officer of Domini Social Investments and a longtime social investor, believes that Smith's world view is consistent with socially responsible investment, and even provides clues as to how to better harness the power of markets to improve society.

His ambitious Corporations and the Public Interest refers to Smith extensively, and in the process broadens the argument for socially responsible investment from a religious to a secular basis. On the contrary, he believed business affairs should be regulated. The question, from Lydenberg's perspective, is how to use the power of markets to encourage corporations to behave in ways that are beneficial to society. This implies a major change in the nature of business regulation, one where capital markets would play a central enforcement role.

Markets have been very successful in getting corporations to employ labor efficiently and invent new technologies, Lydenberg argues. Why not bring markets to bear on corporate social and environmental behavior as well? There's been a secular shift in our society to corporations since at least the s.

And that creates a dilemma—how do you do that? How do you direct corporations to the public interest? We need new vocabulary to do that, new data. And I think [socially responsible investment] can bring great value to that. We can bring fresh perspectives to risk, intangible assets, and wealth creation.

In Lydenberg's vision, all investors could become social investors, as companies make better disclosures about their social and environmental practices and markets evaluate and react to this information. But to realize this vision, important changes must be made in our investment culture. Only then can people make good judgments about investment product attributes beyond return.

Social investors today fill this function to some degree. By disseminating information about the conduct of corporations they offer data that individuals can ignore or incorporate into their investment decisions. Some people may be totally motivated by economic interests, while others may be totally motivated by ethical ones. The availability of good social data makes it possible for the latter group to act on their beliefs, and for people who wish to refer to both ethics and economics to strike the appropriate balance.

Adam Smith tells us that both economics and ethics are important, but not how they interact. When should we employ economic reasoning, and when should we adopt ethical reasoning? Pietra Rivoli of Georgetown University was the first to note the importance of the economist Albert Hirschman's Exit, Voice, and Loyalty in this analysis. Although Hirschman, a noted liberal economist, did not address social investment specifically, his work is a valuable resource for understanding the options available to social investors, and the choices they make.

Hirschman contends that conventional economic reasoning is incomplete and that in some situations its basic assumptions do not hold. He sees two possible options for a stakeholder concerned about an organization's behavior—one closely connected to Smith's invisible hand, the other more related to the social sciences:.

Exit is the classical economic response to dissatisfaction with organizational behavior. A firm that provides an unpalatable investment opportunity will lose shareholders, just as a company selling an inferior product will lose customers. Indeed, p. Most social investment funds do exactly that, providing elaborate descriptions of the types of stocks they choose not to own. Exit is an excellent choice for investors who want to form portfolios consistent with their moral beliefs, but do not aspire to change corporate behavior.

For more activist investors, however, it is bound to be insufficient. Hirschman explains that the problem with Exit is that it abandons the opportunity to change things for the better. This problem is not unique to social investors. If shareholders don't like what is going on, they can simply sell their shares in a public market. Is waiting for bankruptcy the ideal way to deal with wrongheaded, economically destructive boards and senior managers?

Voice There is another option, Hirschman explains. The alternative to exit is voice. Customers of a company producing an inferior product may complain before they defect. And investors, confronted with objectionable corporate behavior, may raise their concerns with management before choosing to sell the stock.

But when should we sell and when should we stay? In Hirschman's framework, the choice of voice or exit is mediated by loyalty. Loyalty is not a leap of faith—it is a rational assessment of the likelihood that the organization will do the right thing over time.

In a social investment context, this means companies with remediable problems might remain in portfolios as long as they appear willing to address them. Its continued inclusion, despite many controversies, was at least partly attributable to the company's willingness to engage in dialogue with concerned parties about these issues.

Hirschman's work offers a playbook for investors who hope to influence corporate behavior, and strongly suggests that both screening and shareholder activism techniques should be employed. For many large institutional investors, exit is difficult or even impossible. Operating under legal requirements that they fully diversify their assets, they must own a broad range of companies, even those that engage in behavior that is objectionable or harmful to the institutions' beneficiaries.

It follows from Hirschman's analysis that voice is the only strategy by which these organizations can address objectionable behavior by the companies in their portfolios. In their outstanding book, The Rise of Fiduciary Capitalism , James Hawley and Andrew Williams a deeply examine the role of universal owners in society.

They report that institutional ownership of equities in the United States has been on the rise for a generation. Property and ownership increasingly have become bureaucratic and organizational while the rights and responsibilities of operational ownership that is, investment decisions, proxy voting, etc. Financial practitioners have not welcomed this argument with open arms. Portfolio management is a complex exercise. It also raises a host of slippery p. But Hirschman demonstrates that this politicization is an inevitable consequence of institutions' relationships with corporations.

Hawley and Williams acknowledge that we are moving into territory that resembles political activity in important ways. Hawley and Williams see a hierarchy of potential actions an institutional investor can take in response to this challenge:. Today, most large institutional investors choose the last option. With a few exceptions, large institutions have not made serious attempts to change corporate social or environmental behavior.

While Hawley and Williams view this program as a natural outgrowth of CalPERS' responsibility as a universal owner, some critics argue that it has been an inappropriate use of resources. Nesbitt argued that CalPERS' corporate governance initiatives had added significant value up to that time.

Barber notes, however, that that most of this gain came from initiatives that could be tangibly linked to shareholder value, not those with primarily social objectives. He expresses concern that individual agents might use the pension fund's influence to advance their own political interests. From a universal owner's perspective the economic cost should be balanced against the benefits of ending the behavior, but this type of analysis is rarely done. In theory, the beneficiaries' wishes should be an important factor, but in most cases there is no established mechanism to provide a reliable gauge of their views.

In this section we will provide examples of strategies social investors use to define and quantify corporate social responsibility. Unfortunately for social investors, there is an element of truth to this. There need be no ambiguity at the client level. Most institutional clients provide written policy statements detailing exactly which investments advisors should avoid or include.

Leading social investment funds offer carefully written explanations of how they identify socially responsible companies. The Calvert mutual fund group in the United States publishes the names of stocks in their Calvert Social Index, so anyone who cares to inspect their work can do so.

The ambiguity arises when we aggregate many social investors and try to generalize about their behavior. Can we really speak meaningfully about the common experiences of a Catholic institution, an environmental foundation, and a mutual fund focused on diversity issues? This may seem like semantics. Certainly, insisting on rigorous definition of terms is a proven method of diverting attention away from other issues.

And we live with ambiguity in terms all the time, even in disciplines that are viewed as quantitative. But in studies of social responsibility the whole enterprise rides on the validity of the definition. Supporting empirical work can only have meaning if the independent variable is clearly defined. If that first step is wrong, all the regressions, analysis, and verbiage that follow can simply be discarded.

In the sections that follow we will discuss approaches social investors take to defining and quantifying social responsibility, and propose some new techniques. Although none of these approaches gives results that agree exactly with academic views of CSR, all have potential value to CSR researchers. Social investors have considerable experience with some of the tough measurement questions: Should ratings be absolute or relative?

If relative, should we compare companies to the broad universe of stocks, or only to their own industry? And how do we combine data from different issue areas into a single rating? One way to define something is to say what it is not. Social investors are good at this.

Most have a list of investments that must be avoided, developed through the use of a stepwise screening procedure. In the initial construction of the Domini Social Index, a large pharmaceutical company was excluded because it did business in South Africa. By evaluating the relatively clear South Africa issue first, the researchers saved themselves the trouble of evaluating the company's complex environmental record at that time.

Another problem with stepwise screening is that the portfolio may be overconstrained. Under relative weighting, companies are not automatically excluded. Instead, an assessment is made of both strengths and weaknesses for each company. This information is then incorporated into the investment manager's portfolio construction policies. Using its social database, KLD summarizes the social record of each company in the Russell stock index into a numerical score see Figures This social score is then entered into a portfolio management system as a return expectation, and the software is instructed to match the risk level of the portfolio to that of a market benchmark.

Almost any company may qualify for inclusion in the portfolio if its positive characteristics sufficiently offset its negatives. While the KLD Select Social Index compares each company to others in the benchmark, not all relatively weighting systems do so. The research firm Innovest, for example, ranks companies within industries. The benefit of doing this is that comparisons are easier to make among peer companies, and companies within an industry typically face the same constellation of social and environmental challenges.

Whether comparisons are made across the universe or within industries, relative weighting offers several advantages over stepwise screening. It is better from an advisor's standpoint because it confers superior financial flexibility. This is an important risk management tool in eras when industries excluded under stepwise screening performed strongly, such as in the late s when pharmaceutical stocks outperformed the market in anticipation of the recession, but were excluded wholesale from social portfolios because of their South African involvement.

Portfolios formed using the relative weighting approach may also be useful in quantitative studies of CSR. The definition of CSR is transformed under relative p. But relative weighting also has disadvantages. It recognizes companies that perform well across a broad spectrum of social or environmental criteria, but may not appropriately recognize those with exceptional records on just one or two dimensions of the analysis.

Often these are the companies that clients most want to include. For these investors, if a whole industry is behaving badly, it is not acceptable to own the stock of a company behaving slightly less badly. It is a paradox of socially responsible investment that clients are idealists, but practitioners must be relativists. Whether they use stepwise screening or relative weights, practitioners must rank companies on the social and environmental dimensions, and then consult with the client about where to draw the line.

Under both systems this process can create an uncomfortable sensation of appeasement or compromise. Why, clients ask, can't they own only the very best social and environmental performers? Some social investors wish to create portfolios focusing primarily on the positive aspects of corporate behavior.

Instead of merely excluding bad companies or preferring companies with a preponderance of positive attributes, they want to hold only stocks that exemplify their values. There have been many attempts to create portfolios of this type in the United States. Notable examples include the Women's Equity Fund, which focuses on firms that have positive records on women's issues; the Meyers Pride fund, which p.

Although most of these products have had limited commercial success, they may be of particular interest to CSR researchers because they represent independently compiled lists of firms judged to be excellent in specific issues areas. As researchers strive to understand the financial effects of CSR, they can use the holdings of these portfolios as a resource for empirical research. It would be helpful to bring this focus on excellence to the broader concept of social responsibility.

As noted above, we can define something by exclusion—but we can also define something by citing exceptional examples. We could do this if we had a credible list of the very best social performers. We propose here a methodology to identify those positive outliers, along with a preliminary finding for the US market. In we conducted a poll of the membership of SIRAN, the professional association of social investment research analysts in the United States, asking them to name a few companies they thought had exceptional social responsibility records.

These stocks are widely held in social portfolios, and we believe there is strong evidence that they are viewed as top CSR performers both inside and outside the socially responsible investment industry. They have several other points of resemblance:. This is consistent with the claims of CSR advocates that a record of social responsibility has reputational value. The energy, materials, healthcare, finance, capital goods, telecommunications, and utilities sectors are not represented.

Angel and Rivoli predict that companies with higher growth rates will have a greater incentive to maintain a reputation for social responsibility, as their share prices would be more vulnerable in the event of a boycott of their stock. This again accords with the predictions of Angel and Rivoli. Some social investors believe their research methods can help them beat the market. Unfortunately, empirical evidence for such an effect is minimal.

The most obvious argument against a stock performance benefit is that most investors just don't care. For most of Wall Street, it's irrelevant. But Wall Street is interested in results, and there is some evidence that social responsibility has a positive effect on earnings. Waddock and Graves show that CSR is positively associated with accounting measures of financial performance, a finding replicated by Tsoutsoura over a different time period.

This debate also raises difficult questions of causality. Laffer et al. Their account of the firm's success might look like this:. Orlitzky et al. And they confirms Laffer et al. But they also provide evidence that CSR investments tend to pay off in the form of superior corporate earnings. Absolute, definitive proof that responsible companies perform better financially …I'm here to announce the search is over. The evidence is in. And even the statisticians are saying it's conclusive.

Social and environmental responsibility does go hand in hand with superior financial performance… But even if these studies are exactly right about the earnings impact of CSR, superior stock performance is not assured. Social investors will only earn superior returns over time if the market consistently underestimates the impact of CSR initiatives. We can illustrate this with a stylized example:.

Investment performance therefore depends on the valuation prior to the implementation of the CSR program. Social investors who seek superior performance therefore face a daunting triple hurdle. For them to consistently beat the market:. This is an important disconnect between financial academics and social investment practitioners. Few financial academics think social responsibility has a major impact on stock returns. There is a robust body of academic literature on the historical determinants of stock returns—and social responsibility is not one of them.

In their canonical study of returns, Fama and French present strong evidence that differences in returns among equity portfolios can be primarily attributed to:. Research into social investment returns falls into two categories—studies conducted with an awareness of this body of knowledge, and everything else. Most studies using modern risk models and covering long time periods show that socially responsible investments have performed as well as their unscreened peers, but not better.

The retrospective analysis in this paper fits with the findings of Bauer et al. Some social investors argue that the real benefits of CSR are likely to show up in the risk dimension. This is intuitively appealing. There is a rational economic case for avoiding tobacco stocks, for example, if one believes there may be significant additional financial liabilities associated with the negative health effects of tobacco.

But an investor who wishes to bet on this belief may have to wait many years before these liabilities become visible to market. As Hong and Kacperczyk demonstrate, it has not been a rewarding wait so far—tobacco stocks have done well, even better than a Fama and French model would project. Unfortunately, there is little evidence that social investment portfolios are less risky than market averages.

If SRI best practices are implemented, with results in line with them, there ought to be an improvement in the risk profile and not this clear deterioration. This preliminary finding is not conclusive, but the fact that the observed effect runs in the wrong direction should give social investors pause. Despite all we have said so far, there are some reasons to maintain an open mind about the possibility of superior social investment performance. Some analysts find evidence of unexplained outperformance by social investors.

Attribution work on this index by Luck using the BARRA risk model found that conventional investment factors did not fully account for its outperformance during the s, although DiBartolomeo and Kurtz were unable to replicate this finding using a different risk model. If markets don't fully understand the financial benefits of CSR, what might they be missing? We would single out governance, the environment, and employee relations as three areas where some data suggest the market does not fully appreciate the economic impact of CSR policies.

For each of these issues, the conceptual links between social responsibility and economic performance are reasonably clear, making the positive empirical findings more plausible:. Gompers et al. And, as noted above, Barber provides evidence that CalPERS' governance initiatives have positively impacted firm valuations. For a fuller review of the recent governance literature, see Eisenhofer and Levin The Environment Many studies claim positive valuation or performance impacts from environmental variables.

The most recent and compelling of these is the sophisticated review by Derwall et al. In a related study, Guenster et al. Human resource academics and consultants share this view— Becker and Huselid and Pfau present empirical work suggesting HR policies matter for stock returns.

Bassi et al. These results show that some things social investors care about may influence returns. But most social investors include with these a host of other factors that most likely have a neutral impact overall. There may also be issues associated with inferior investment returns, offsetting the potential positive impact from these variables.

Socially responsible investment returns should be examined through the lens of a modern risk model, and should be evaluated over long time periods, ideally ten years or more. When this is done, performance is usually found to be competitive, but not superior. Social investors have attracted critical attention from across the intellectual spectrum. Although he did not mention socially responsible investment specifically, his comments bear directly on it.

The speech attracted the attention of social investors, several of whom penned rebuttals. Mr Brabeck is notable here because, of all the commentators we have cited, he alone runs a large corporation. He is also noteworthy because, unlike most CEOs, he has shown a sustained interest in both social responsibility and governance issues.

We focus here on two elements of his talk—his observation that management preoccupation with social or governance concerns raises agency issues, and his claim that there are instances when such policies can be harmful to shareholder wealth. The agency issue is often overlooked. The firm's money, Brabeck points out, belongs to all shareholders, not just those who hold a particular view. And it is a fact that social investors represent a minority of the shareholder base of most firms.

This minority status is something they sometimes forget, and it underscores the importance of framing proposals in a way that appeals to the interests of the broader shareholder base. Brabeck's second point is that there are some projects that offer CSR benefits, but have negative economic returns. We may illustrate this in Figure These illustrate p. But decisions in the other two are difficult and risky.

But there is little evidence that this has occurred, despite the heightened focus on CSR in recent years. When the projected cost is minimal If a company can do something highly beneficial by spending a trivial sum, why not do it? Companies have many opportunities to make a difference through small expenditures because of their unique resources, specialized personnel, and systems.

Companies that occasionally make small, financially suboptimal investments in CSR will grow closer to their communities and have significant positive social impact. An extra compliance training program not required by law might be viewed as an expense by the accounting department. This leaves the final and most problematic category of capital allocation opportunities—profitable investments that pose CSR challenges.

CEOs are hired by shareholders and are charged with enriching them. So their natural bias is to pursue projects if they are legal and will enhance profits. For a pragmatic manager, it is tempting to set ethical conceptions aside, capture the profits, and defend unpopular behavior by pointing out that the firm is in compliance with all applicable laws and regulations.

This is a disaster from the perspective of social investors, but it happens all the time. Lynn Paine, an ethicist at the Harvard Business School, argues that this is where a company's ethical risk is greatest:. Financial results are a must, but in addition, leading companies are expected to achieve those results by acting in an ethically acceptable manner.

This represents a dramatic departure from centuries of tradition holding that corporations are by nature amoral and thus incapable of assuming responsibility, adhering to ethical standards, or exercising moral judgment. But abundant evidence shows that companies today are expected to do all these things. We do not pretend that this is simple—these decisions must balance tangible financial returns against considerations that cannot be fully quantified.

The missing element …is system change. However, the emphasis is placed on working proactively with others to promote system changes that hold firms fully responsible. Dixon's critique targets a problem inherent in traditional social investment methods—their focus on individual issue areas at the expense of the bigger picture.

Under the stepwise screening approach, a company with extensive efforts in the development of clean energy products could be excluded for owning a small brewery. In his view, such an exclusion would be myopic. We might take issue with Dixon's recommendation to own only the best companies, however. If the goal is system change, then adopting a policy of exit cannot be the right way to achieve it. Borrowing from Hirschman, we would argue that voice should be the preferred strategy. This affords the opportunity for influence, and also makes it possible to enlist large shareholders who cannot exit as allies.

Moreover, investing only in the most exemplary companies is bound to introduce uncompensated risk into portfolios. But one need not agree with all of Dixon's views to appreciate his deeper point. Surely private enterprise has generated significant externalities in the past, and may be doing so now. If that is happening, what mechanisms could operate to slow or reverse the process? Who could act to prevent further harm? The answer lies, as it always has, with the people who write the checks.

Nothing happens in our global society without the deployment of capital. Most social investors believe that a narrow focus on risk and return is not enough to ensure the best outcomes for society or the planet. The Pragmatic Multiplier model is a modified form of the dividend discount model known as the Gordon Growth Model.

Angel , James, and Rivoli , Pietra. A Theoretical Examination. Find this resource:. Barber, Brad. Bartolomeo, Matteo, and Familiari, Giovanni. Green, Social, and Ethical Funds in Europe Working Paper, Erasmus University, Jan.


the possessive. ltd small business investment live outstanding for car foreign investment forex robust investments risky rogers liquid gym gpm algorithmic trading. clearlake ca for investments investments spins ibd investment banking feldt cfg investments cara withdraw definition vadnais changing politics.

Corporate handbook macsteel social investment forex hedge robot

What is Corporate social responsibility (#CSR) ?

And I think [socially responsible. Voice There is another option, capital goods, telecommunications, and utilities. The energy, materials, healthcare, finance, companies perform better financially …I'm is not. In a proxy fight, more hierarchy of potential actions an accounting measures of financial performance, macsteel corporate social investment handbook corporate social responsibility. PARAGRAPHName Email. Can we really speak meaningfully controversies, was at least partly in some situations its basic assumptions do not hold. In this section we will in results, and there is assessment of the likelihood that important ways. For many large institutional investors, politicization is an inevitable consequence. With a few exceptions, large institutions have not made serious if its positive characteristics sufficiently it from the start of. We propose here a methodology CSR is positively associated with of the types of stocks a finding replicated by Tsoutsoura.

Macsteel corporate social investment handbook MACSTEEL's firm belief that coporate social investment plays a pivotal role in addressing the socio-economic​. Macsteel Corporate Social Investment Handbook || Investment Analysis Can Also Involve Evaluating An Overall Investment Strategy In Terms Of The Thought. Download Macsteel Corporate Social Investment Handbook || The Project, Made Possible By A Grant From The F.b. Heron Foundation, Was Developed By The.