Word: dollarized
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...Undergraduate Council faced off yesterday over whether to publicize that it is considering purchasing a four-million dollar property at 45 Mount Auburn Street in a meeting marked by two off-the-record executive sessions—extremely rare interludes that close the proceedings to public and press...
...endowment losses. While Harvard demarcates a certain amount of money to go to the FAS budget and an entirely different sum of capital for real estate and property development, essentially all of the capital comes from the same pool: the endowment. Harvard should not continue to buy million-dollar properties that will stay empty in Allston and Brighton for years to come as the university slows down construction projects. Instead, it should reallocate real-estate funds to FAS and other schools that are cutting jobs in order to eliminate budget deficits...
...cakes, and pay too much for them." The auction process sweeps up some shoppers - I just want to win, darn it, no matter how much I pay for that dog food. Others figure that while they're at the grocery auction anyway, they might as well spend an extra dollar to secure that ground beef. Beats making another trip to the store...
...question of the week. Just a few months after the near meltdown of the financial system, Citi, JPMorgan Chase and Goldman Sachs all reported billion-dollar-plus profits for the quarter ending March 31. Wells Fargo, which won't be releasing its earnings numbers until next week, preannounced on April 9 that it made about $3 billion - a record for the firm. (See pictures of the dangers of printing money...
...same goes for the country's big banks as a group. This week's positive results, which had been anticipated by a monthlong rally in bank stocks, are certainly better than last year's multibillion-dollar losses. But bank earnings are extremely sensitive to assumptions about the future, and whether the banks are actually on the road to recovery will depend to a great extent on how the economy performs in the coming months. That said, there are a few dumbed-down lessons that can be taken from the earnings news thus...