Word: cashes
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Dates: during 2000-2009
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Princeton’s endowment shrank by 23 percent this past fiscal year—beating Harvard’s 30 percent loss—but the decrease was buffered by the school’s decision to finance its operating expenses using bonds and other sources of cash, rather than drawing on its endowment...
...Cohen succumbs to the common misconception that Harvard’s endowment—admittedly still the largest of any university—is merely an ocean of cash that can be accessed on a moment’s notice, which is not at all the case. Sometimes, as the many budget cuts Harvard has made in the last year demonstrate, a wealthy organization still has a very real need for donations...
...believe they will owe the agency through the end of 2012. But even though the banks will make those payments this year, they won't show up on 2009 income statements. Instead, each bank will add an asset, a big one, to its balance sheet, right below where the cash they just handed over to the FDIC used to be. It will be called something like prepaid FDIC premiums. The asset will shrink each quarter by the amount each bank normally would have paid the FDIC. As the bank shrinks the asset, it will book the normal cost it would...
...case of big banks like Bank of America or Citigroup, the upfront payments could run to a few billions. But the FDIC and analysts say banks will be more than able to cover it. Cash flow is not their problem. Capital is. And because the prepayments won't hit earnings, at least not initially, those capital ratios we have been worried about to show if banks are solvent won't change. Banks, all too familiar with accounting tricks, seem overjoyed by the FDIC's solution...
...performers from the nation’s most elite law school are now faced with slashed salaries, lay-offs and reduced hiring. The pre-crash ideal of fast-cash has been swept away by the brusque hand of the last two years of financial uncertainty...