Word: bennette
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Dates: during 1970-1979
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...Harvard's procedure has been very successful," Bennett said in an interview. "Harvard's financial strength isn't an accident. Why is it the last of the largest institutions to run into the red? It's because we've had good financial management...
...Because Bennett's numerous duties provide him with an unequaled understanding of Harvard investment policy, and because this policy has been successful, the Corporation has readily followed most suggestions of the Treasurer's office...
Sometimes that office has acted without bothering to inform the Corporation. Last year, while Bennett was out of the country, the Corporation halfheartedly discussed the Gulf Angola Project resolutions, which opposed Gulf Oil's involvement in Angola and other Portuguese colonies in Africa. The debate was limited, Hugh Calkins '43 Fellow of the Corporation, said, because the Fellows "weren't sure what Mr. Bennett had already done." Agreeing, John Morton Blum '43, Fellow of the Corporation, said afterwards, "It was a ship that passed in the night...
...reason the ship could pass unnoticed was President Pusey's reluctance to act affirmatively in the field of investment policy and corporate responsibility. He left that to the treasurer. As Bennett observed, he and Pusey agreed on the fundamental issues...
Recently the private suite that Bennett occupied has opened to other tenants. The Overseers last May created a standing Committee on University Financial Policy. Its members--George Putnam '49, committee chairman and president of Putnam Management Corporation; Andrew F. Brimmer, governor of the Federal Reserve Board; Albert H. Gordon '23, partner of Kidder, Peabody and Co.; and C. Douglas Dillon '31, president of the Board of Overseers and former Secretary of the Treasury--are all very experienced in investment management. But while they may occasionally question Bennett's judgment in financial decisions, they are unlikely to disagree with...