Word: bondses
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Just looking at the numbers, Barry Bonds is a baseball god. He has cracked a record 762 career home runs, clinching baseball’s most cherished record, and won seven awards for most valuable player. Yet despite his obvious superiority over other baseball players, nobody reveres Barry Bonds, and...
Final exams are upon us, here at Harvard. For the typical Harvard student, the pressures to succeed come from all directions: parents, peers, and prospective employers. Those who procrastinate, or feel the need to cram, might choose to swallow a pill in order to be able to study later or...
The study, released last Friday, raised the concern that the universities with large investment portfolios engage in “indirect tax arbitrage” by selling low-cost, tax-exempt bonds to finance some expenditures instead of spending endowment funds invested in high-yield assets.
Though Harvard has issued tax-exempt bonds as recently as January, which saw the completion of a $480 million bond offering, the potential implications of the report for the University remain unclear.
“The federal government forgoes the revenue from tax-exempt entities in exchange for the social benefit from these institutions. This report raises questions for parents, students, and taxpayers about universities’ issuing bonds and going into debt when they have money in the bank,?...