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Trinity College Rejects Divestment Proposal Pushed by Anti-Israel Activists
Pro-Hamas activists gather in Washington Square Park for a rally following a protest march held in response to an NYPD sweep of an anti-Israel encampment at New York University in Manhattan, May 3, 2024. Photo: Matthew Rodier/Sipa USA via Reuters Connect
Trinity College in Connecticut has rejected a proposal to adopt the boycott, divestment, and sanctions (BDS) movement — which aims to isolate Israel from the international community as a step toward its eventual elimination.
“Guided by its fiduciary responsibilities, the board of trustees has chosen not to change or revise Trinity College’s investment policies,” a statement issued by the school on Monday said. “We will continue with our primary objective of maintaining the endowment’s intergeneration equity to support current and future generations of students.”
It continued, “The long-term and practical challenges of divesting or utilizing the endowment to exert political influence would create too much risk for the institution and potentially compromise its ability to carry out its primary educational mission. The college’s faculty, staff, students, and future students depend upon a strong and growing endowment to support our critical operations.”
In its communication, the college pointed to three groups which demanded divestment from Israel or “disclosure” of the extent of its financial ties to Israel or companies with which it does business, including manufacturers of armaments. Those groups include the Palestine Solidarity Encampment at Trinity College, TrinDivests, and a faction within the college faculty which called on school officials to comply with the students’ demands.
It also noted that acceding to demands for divestment for the sake of “utilizing the endowment to exert political influence” would injure the college financially, stressing that doing so would “compromise our access to fund managers, in turn undermining the board’s ability to perform its fiduciary obligation.”
As The Algemeiner has previously reported, American universities are largely rejecting demands to divest from Israel and entities at all linked to the Jewish state, delivering further blows to the pro-Hamas protest movement, which students and faculty pushed with dozens of illegal demonstrations to coerce officials into enacting the policy.
As Trinity College did on Monday, Chapman University trustee Jim Burra cited in September a “fiduciary responsibility” to future students and faculty which ruled out divestment as a possibility, explaining that “it is important that we make financial decisions based on risk and return.” The prior month, the University of Minnesota pointed to the same reason while touching on the extent to which the Israeli-Palestinian conflict polarizes its campus community. However, the university did adopt a new policy for its investments, a so-called “position of neutrality” which, it says, will be a guardrail protecting university business from the caprices of political opinion.
“For the past several months, we have sought expert analysis and a variety of perspectives on how the university invests its Consolidated Endowment Fund,” University of Minnesota Board of Regents chair Janie Mayeron said in a statement at the time. “We have reviewed how this fund operates, how it supports affordable education for students, groundbreaking research, and community engagement, and the possible financial challenges of divestment … In the end, it is clear our community is divided on the topic. After careful consideration of all this input, we believe today’s action honors our fiduciary duty and the long term needs of the university.”
Several weeks earlier, Oberlin College’s Board of Trustees voted against divestment after reviewing a proposal submitted by “Students for a Free Palestine,” a spin-off of Students for Justice in Palestine (SJP), which has been linked to Islamist terrorist organizations.
Colleges and universities will lose tens of billions of dollars collectively from their endowments if they capitulate to demands to divest from Israel , according to a report published in September by JLens, a Jewish investor network that is part of the Anti-Defamation League (ADL). Titled “The Impact of Israel Divestment on Equity Portfolios: Forecasting BDS’s Financial Toll on University Endowments,” the report presented the potential financial impact of universities adopting the BDS movement, which is widely condemned for being antisemitic.
The losses estimated by JLens are cataclysmic. Adopting BDS, it said, would incinerate $33.21 billion of future returns for the 100 largest university endowments over the next 10 years, with Harvard University losing $2.5 billion and the University of Texas losing $2.2 billion. Other schools would forfeit over $1 billion, including the University of Pennsylvania, Stanford University, and Princeton University. For others, such as the University of Michigan and Dartmouth College, the damages would total in the hundreds of millions.
“This groundbreaking report approached the morally problematic BDS movement from an entirely new direction — its negative impact on portfolio returns,” New York University adjunct professor Michael Lustig said in a statement extolling the report. “JLens has done a great job in quantifying the financial effects of implementing the suggestions of this pernicious movement, and importantly, they ‘show their work’ by providing full transparency into their methodology, and properly caveat the points where assumptions must necessarily be made. This report will prove to be an important tool in helping to fight noxious BDS advocacy.”
Follow Dion J. Pierre @DionJPierre.
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Israel to Issue 54,000 Call-Up Notices to Ultra-Orthodox Students
Haredi Jewish men look at the scene of an explosion at a bus stop in Jerusalem, Israel, on Nov. 23, 2022. Photo: Reuters/Ammar Awad
Israel’s military said it would issue 54,000 call-up notices to ultra-Orthodox Jewish seminary students following a Supreme Court ruling mandating their conscription and amid growing pressure from reservists stretched by extended deployments.
The Supreme Court ruling last year overturned a decades-old exemption for ultra-Orthodox students, a policy established when the community comprised a far smaller segment of the population than the 13 percent it represents today.
Military service is compulsory for most Israeli Jews from the age of 18, lasting 24-32 months, with additional reserve duty in subsequent years. Members of Israel’s 21 percent Arab population are mostly exempt, though some do serve.
A statement by the military spokesperson confirmed the orders on Sunday just as local media reported legislative efforts by two ultra-Orthodox parties in Prime Minister Benjamin Netanyahu’s coalition to craft a compromise.
The exemption issue has grown more contentious as Israel’s armed forces in recent years have faced strains from simultaneous engagements with Hamas in Gaza, Hezbollah in Lebanon, Houthis in Yemen, and Iran.
Ultra-Orthodox leaders in Netanyahu’s brittle coalition have voiced concerns that integrating seminary students into military units alongside secular Israelis, including women, could jeopardize their religious identity.
The military statement promised to ensure conditions that respect the ultra-Orthodox way of life and to develop additional programs to support their integration into the military. It said the notices would go out this month.
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Influential Far-Right Minister Lashes out at Netanyahu Over Gaza War Policy
Israeli Finance Minister Bezalel Smotrich attends an inauguration event for Israel’s new light rail line for the Tel Aviv metropolitan area, in Petah Tikva, Israel, Aug. 17, 2023. Photo: REUTERS/Amir Cohen
Israel’s far-right Finance Minister Bezalel Smotrich sharply criticized on Sunday a cabinet decision to allow some aid into Gaza as a “grave mistake” that he said would benefit the terrorist group Hamas.
Smotrich also accused Prime Minister Benjamin Netanyahu of failing to ensure that Israel’s military is following government directives in prosecuting the war against Hamas in Gaza. He said he was considering his “next steps” but stopped short of explicitly threatening to quit the coalition.
Smotrich’s comments come a day before Netanyahu is due to hold talks in Washington with President Donald Trump on a US-backed proposal for a 60-day Gaza ceasefire.
“… the cabinet and the Prime Minister made a grave mistake yesterday in approving the entry of aid through a route that also benefits Hamas,” Smotrich said on X, arguing that the aid would ultimately reach the Islamist group and serve as “logistical support for the enemy during wartime”.
The Israeli government has not announced any changes to its aid policy in Gaza. Israeli media reported that the government had voted to allow additional aid to enter northern Gaza.
The prime minister’s office did not immediately respond to a Reuters request for comment. The military declined to comment.
Israel accuses Hamas of stealing aid for its own fighters or to sell to finance its operations, an accusation Hamas denies. Gaza is in the grip of a humanitarian catastrophe, with conditions threatening to push nearly a half a million people into famine within months, according to U.N. estimates.
Israel in May partially lifted a nearly three-month blockade on aid. Two Israeli officials said on June 27 the government had temporarily stopped aid from entering north Gaza.
PRESSURE
Public pressure in Israel is mounting on Netanyahu to secure a permanent ceasefire, a move opposed by some hardline members of his right-wing coalition. An Israeli team left for Qatar on Sunday for talks on a possible Gaza hostage and ceasefire deal.
Smotrich, who in January threatened to withdraw his Religious Zionism party from the government if Israel agreed to a complete end to the war before having achieved its objectives, did not mention the ceasefire in his criticism of Netanyahu.
The right-wing coalition holds a slim parliamentary majority, although some opposition lawmakers have offered to support the government from collapsing if a ceasefire is agreed.
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Australia Police Charge Man Over Alleged Arson on Melbourne Synagogue
Australia’s Prime Minister Anthony Albanese speaks to the media during a press conference with New Zealand’s Prime Minister Christopher Luxon at the Australian Parliament House in Canberra, Australia, Aug. 16, 2024. Photo: REUTERS/Tracey Nearmy
Australian police have charged a man in connection with an alleged arson attack on a Melbourne synagogue with worshippers in the building, the latest in a series of incidents targeting the nation’s Jewish community.
There were no injuries to the 20 people inside the East Melbourne Synagogue, who fled from the fire on Friday night. Firefighters extinguished the blaze in the capital of Victoria state.
Australia has experienced several antisemitic incidents since the start of the Israel-Gaza war in October 2023.
Counter-terrorism detectives late on Saturday arrested the 34-year-old resident of Sydney, capital of neighboring New South Wales, charging him with offenses including criminal damage by fire, police said.
“The man allegedly poured a flammable liquid on the front door of the building and set it on fire before fleeing the scene,” police said in a statement.
The suspect, whom the authorities declined to identify, was remanded in custody after his case was heard at Melbourne Magistrates Court on Sunday and no application was made for bail, the Australian Broadcasting Corp reported.
Authorities are investigating whether the synagogue fire was linked to a disturbance on Friday night at an Israeli restaurant in Melbourne, in which one person was arrested for hindering police.
The restaurant was extensively damaged, according to the Executive Council of Australian Jewry, an umbrella group for Australia’s Jews.
It said the fire at the synagogue, one of Melbourne’s oldest, was set as those inside sat down to Sabbath dinner.
Israeli President Isaac Herzog went on X to “condemn outright the vile arson attack targeting Jews in Melbourne’s historic and oldest synagogue on the Sabbath, and on an Israeli restaurant where people had come to enjoy a meal together”.
“This is not the first such attack in Australia in recent months. But it must be the last,” Herzog said.
Israeli Prime Minister Benjamin Netanyahu described the incidents as “severe hate crimes” that he viewed “with utmost gravity.” “The State of Israel will continue to stand alongside the Australian Jewish community,” Netanyahu said on X.
Australian Prime Minister Anthony Albanese late on Saturday described the alleged arson, which comes seven months after another synagogue in Melbourne was targeted by arsonists, as shocking and said those responsible should face the law’s full force.
“My Government will provide all necessary support toward this effort,” Albanese posted on X.
Homes, schools, synagogues and vehicles in Australia have been targeted by antisemitic vandalism and arson. The incidents included a fake plan by organized crime to attack a Sydney synagogue using a caravan of explosives in order to divert police resources, police said in March.
The post Australia Police Charge Man Over Alleged Arson on Melbourne Synagogue first appeared on Algemeiner.com.