Word: cashed
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...November, media outlets began reporting that Harvard was looking to sell billions of dollars in private equity holdings at drastically reduced prices, and in December, the University sold $2.5 billion in bonds in order to raise cash, refinance short-term debt, and terminate certain investment agreements. (Mendillo has stated in the past that HMC began exploring private equity sales even before the financial world imploded, as part of a larger policy portfolio shift that she implemented upon her arrival.) Thursday’s endowment report said that over the past year, HMC has reduced its payments owed to outside investment...
Today, HMC’s Policy Portfolio aims to include a positive cash reserve of 2 percent, whereas the University had previously been borrowing a small percentage of additional money to invest—a practice that can augment gains but also magnify losses...
When markets plummeted across the board last fall, Harvard, along with many other investors and peer institutions, sought to reduce exposure to those illiquid, alternative assets and instead boost cash reserves for operations. Private equity holdings are especially taxing since they often require ongoing and continued capital commitments from investors...
...than the public's opinion of Congress during this recession is its opinion of business. Social responsibility is one way to get it back. Consumers too can make ethical choices. You may be stressed out by the economy, but your civic duty is starting to kick in at the cash register. Just don't let it end there. - With reporting by Jeremy Caplan...
...larger than a few isolated - and possibly opportunistic - attacks, says Unni, the Sydney coordinator of the Federation of Indian Students of Australia. The far bigger problem, he says, is the long-term systemic neglect of the welfare of foreign students in Australia, with too many students being treated as cash cows by indifferent government authorities and unscrupulous private-college operators...