Word: budgets
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Dates: during 2000-2009
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It’s no secret that Harvard has been struggling financially due to the recession—University Hall’s endowment woes (and resulting budget cuts) have come under constant scrutiny not only by The Crimson, but also by national newspapers such as The Boston Globe and The New York Times. But just in case you’ve been living under a rock for the past few months, FM has gathered some stats on the recession’s effects on Harvard, ranging from the obvious to the surprising to the potentially infuriating. Just remember: regardless...
...secret that Michigan is enduring the most extreme effects of the nation's economic crisis: its unemployment rate stands at 15.3%, and the state is functioning on a temporary budget as legislators rush to close a $2.8 billion deficit. In recent years, the financial situation here has been so dire that Michigan has closed several detention facilities, reducing its prison population by thousands. Now, however, the state appears to be viewing prisoners in a different economic light - as a potential revenue generator...
...inmate population: since 2006, it has dropped from 51,700 to about 46,000. Officials here attribute the decline to several factors, including an overall drop in crime, the placement of more people on parole and a lower recidivism rate. But in June, as the state's budget crisis deepened, Michigan announced that it would close eight prison facilities by the end of the year, including Standish, which could save some $30 million annually. Standish is expected to be shut down by the end of October, and many of the 600 inmates are already being dispersed to other facilities. Officials...
...edge. Nearly two decades ago, the town's residents were torn about whether the prison should even be built. But it quickly became an alternative to the dwindling auto industry. It's currently the city's largest employer, and the facility accounts for roughly 35% of the city's budget. Now prison guards are dreading the prospect of commuting five hours a day to the nearest job, if they can find one, or leaving Michigan altogether...
...patient-advocacy groups, including the American Cancer Society, Easter Seals and the National Kidney Foundation. But its board of directors reads like a Who's Who of top pharmaceutical executives from Amgen, Pfizer, Novartis and Bristol Myers Squibb. Its 2007 tax filings show that almost half its $2.3 million budget came from PhRMA and drug companies...