Nevertheless, Versage said that if the Investment Committee did not go along with the recommendations in the third-year evaluation, then he would be forced to admit that IPAC could no longer function effectively

Two for Nine

In spite of the Investment Committee decisions to disregard IPAC's recommendations concerning how Cornell should vote on seven of the nine social issues proxies IPAC dealt with last year, the members of IPAC issued a very optimistic third year evaluation at the end of last spring.

In the evaluation, IPAC members said that "despite the difficulties and frustrations which are necessarily inherent in making judgments on such complex issues, the Committee has made specific progress."

Recommendations

The report recommended the following

*that the Investment Committee share with IPAC its reasons for disagreement on proxies.

*that a member of the Investment Committee should be a voting member of IPAC.

*that one or more IPAC members should be invited to attend Investment Committee meetings, and

*that IPAC should meet with the chairmen of the Investment Committee periodically.