Posted on 02/21/2009 5:56:11 AM PST by jimbo123
Harvard may be the nations wealthiest university, but it is short on cash.
The school relies on its endowment to generate a third of the money for its operations, and the endowment is on the verge of posting its biggest loss in 40 years. With much of its money tied up for the long term, it is scrambling to meet some obligations.
Harvard has frozen salaries for faculty and nonunion staff members, and offered early retirement to 1,600 employees. The divinity school has warned it may not be able to cover tuition for all its students with need, the school of arts and sciences is cutting its billion-dollar budget roughly 10 percent, and the university president said this week than the unprecedented drop in the endowment was causing it to delay its planned expansion, starting with a $1 billion science center, into the Allston neighborhood of Boston.
The school has even added to its debt by issuing $1.5 billion in new bonds, its largest such offering ever.
(Excerpt) Read more at nytimes.com ...
If you want to finish the sentence, "The U.S. Department of State is riddled with........", you will be 100% correct.
Leni
Well, in fairness to my cousin, I did tick him off when I said it is impossible to have a conversation with a deluded, closed mind.
Agree on SD Reds.
A relative ( a Mass Liberal, no more like a Socialist ) went to work for Harvard for a short time...
This person noted to me they wished they could rollover their 401(k) from a former employer or make their new contributions into the endowment since it was being run like a Hedge Fund and in that particular year returned 22%.
The disconnect from risk-reward, asset allocation, and succumbing to the greed they blame us Conservatives for is mind boggling.
Note this is the 2nd MA College in deep do do with the endowment, Brandise was the 1st...
Divinity Schoool? There, I presume, to hopefully make up to God for all the sorry loosers they turn out from the liberal arts side of the house.
Perhaps also for graduating a certain someone from law school who has the intellectual ability of a turnip.
The U of C has always been an under-the-radar hotbed of commie, marxist, socialist, radical intelligentsia since the pre-New Deal '20s.
The university is still top-heavy with Marxist professors, including William Ayers, Obama's friend and mentor.
The university is located in the backyard of Obama's "street community". Here, in and around the Hyde Park area, the well-to-do administrators, professors, hangers-on and snobbish leftist wives of the salon-holding type were and are backers of and donators to The One. He knew whom to cultivate on his way up the political ladder.
Harvard is not the only educational socialist/marxist toehold in the U.S., only one of the most blatant. The universities in Berkeley and Madison, Wisconsin also come to mind. They churn out little socialists as well as marxist malcontents every year, many who go on to take plum jobs in our national government where they continue to carry on their goal of undermining our country.
Leni
Here is Harvard’s review at The Fire
A good look at free speech on campus
http://www.thefire.org/index.php/schools/738
Muhammed Al Arian ran the endowment but bailed two yeras ago. He was smart and is now at PIMCO
Only fitting since there are more than enough Harvard fools in D.C. running this country into the ground.
You are kidding, of course. No one at Harvard Divinity School has believed in God in decades.
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