Word: cent
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...president also requested a $4.62 fee on each barrel of imported gasoline, which will lead to an estimated ten-cent-per-gallon rise in gasoline prices by May, and a reduction in federal civilian employment...
Every reaction should have an equal and opposite reaction, but the recent 21-per-cent jump in the value of Harvard's endowment will not affect the daily operations of the University--including tuition levels--at all, at least for several years...
Harvard Management Company's decision to increase the percentage of stocks in its portfolio from a little more than 50 per cent to 65 per cent last October helped push the endowment past the $1.6 billion mark...
Appreciation has increased the stock percentage to about 70 per cent, and--unlike many other bond-heavy universities--only 15 per cent of the endowment is now tied up in bonds. Although both markets are reaching new daily lows because of a skyrocketing prime lending rate, the drop in stocks is not nearly so severe, George Putnam, treasurer of the University, said this week...
...that might sound impressive, but Walter M. Cabot '55, president of Harvard Management Company, said yesterday that because the University feeds only off the interest from the endowment, the 21-per-cent hike since last July "will have no effect at all" on any of the University's budgets...