As over 100 students gathered in protest outside the Alexander G. Ruthven Building on Thursday morning, the University of Michigan Board of Regents declared its decision not to divest from companies connected to Israel and the events in Gaza.
Stating that the board had thoroughly considered the matter, Regent Sarah Hubbard announced the rejection of numerous appeals for divestment from companies associated with Israel. She emphasized that there would be no divestment whatsoever, asserting that the university’s endowment, valued at almost $18 billion, is primarily aimed at maximizing income and is therefore guided solely by investment considerations, not political or moral factors.
Hubbard defended the decision of the Finance, Audit, and Investment Committee not to divest from companies profiting from Israel’s actions in Gaza, citing the necessity of maintaining a diversified investment portfolio to mitigate risks and ensure returns.
Disregarding the primary demand of students to denounce the atrocities in Gaza and cease all investments aiding the Israeli government, Hubbard expressed no sympathy for the widespread outrage among students, faculty, and staff. Instead, she vaguely referred to collaboration in addressing global challenges and the board’s fiduciary responsibility to safeguard assets.
Reflecting the viewpoint of the ruling class members on the board, aligned predominantly with the Democratic Party, Hubbard invoked the imperative of protecting assets.
The announcement coincided with a protest by over 1,000 U-M students against the Gaza conflict and the escalating restrictions on free speech and protest rights on campus.
President Santa Ono’s release of a draft disruptive activity policy on Wednesday, which would grant the administration broad authority to curb protests and penalize demonstrators, further exacerbated tensions. The policy, slated for early April implementation, threatens student expulsions, staff/faculty terminations, and criminal charges against disrupters.
Even before the policy’s formal adoption, the administration has taken punitive action against students. Following a rally advocating divestment and opposing the new measures, three students received trespassing citations for their involvement in a protest during the Honors Convocation.
Students Allied for Freedom and Equality (SAFE), the U-M chapter of Students for Justice in Palestine, criticized the administration’s actions, accusing it of enforcing a repressive policy banning protests before its formal approval.
U-M students have voted on a resolution sponsored by the TAHRIR coalition, urging divestment from companies engaged with Israel, and the dismissal of charges against 40 students arrested last November for peacefully occupying university offices in protest of US/Israeli actions in Gaza.
The International Youth and Students for Social Equality (IYSSE) at U-M and the Socialist Equality Party (SEP) candidates for US President Joseph Kishore and Vice President Jerry White have endorsed the anti-genocide resolution. They assert that halting genocide and warfare necessitates mobilizing the working class and constructing a mass anti-war movement grounded in the pursuit of socialism.
In response to the undemocratic crackdown on campus protests, members of the IYSSE circulated a statement on the divestment referendum and the university’s assault on campus dissent.
The SEP candidates engaged with numerous students on Thursday, highlighting the ties between the U-M administration and the Democratic Party.
The assault on free speech at U-M aligns with broader international efforts to suppress opposition to the war crimes of the Netanyahu regime and its imperialist supporters, often equating advocacy for Palestinian rights with antisemitism.
These developments in Ann Arbor unfold in the wake of Vanderbilt University’s suppression of a demonstration against genocide, underscoring a pattern of stifling dissent on campuses nationwide.
