Word: endowments
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Take, for example, the $100 million that MicroStrategy founder Michael Saylor vowed to donate last year to endow a foundation that would create the world's premier online university. That was shortly before the software company stunned Wall Street by restating its revenues for the previous two years--a shock that caused the company's stock to plunge more than 60% in a single day. Throw in the tech sell-off, and last week MicroStrategy shares that had traded for more than $225 a year ago closed at $2.88. Saylor's personal holdings, which had stood at $9.9 billion...
...shares have fallen more than 98% from their 52-week high, the $1 million worth of stock that vice president Michael Wolfe pledged to Stanford a year ago nearly evaporated. By the time the school received and sold the stock, its value had fallen to $100,000--enough to endow a single undergraduate scholarship...
LaFrance said that originally, Kramer wanted to endow a professorship strictly for gay studies, excluding lesbian and other queer studies from the gift...
Last week, film star Jane Fonda donated an impressive $12.5 million to the Graduate School of Education to endow a professorship in the name of Graham Professor of Gender Studies Carol Gilligan. The professorship is meant to be filled by an academic who will study the effect of gender on childrens' development and learning--Gilligan's area of expertise. We have sorely missed a professor devoted to this area, as Gilligan has spent much of the past few years teaching at New York University as a visiting professor. This endowed professorship, however, will ensure that Harvard will always boast...
Fonda's gift--by far the largest donation GSE has received in its 80-year history--gives $2.5 million to endow a new chair named after famed gender studies expert and Harvard professor Carol Gilligan, who announced Friday that she will leave the University in June...