Word: fatted
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Dates: during 1970-1979
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...meeting was brief and cordial, and McGraw did not then answer. The next morning he said he was "negative" and asked stockholders to do nothing until the board meets this week to study the offer. The Amexco bid comes to $34 a McGraw-Hill share, a fat premium over the $26 market price just before the bid. But Harold McGraw, grandson of the company's founder and a man set in his ways, wants to keep the family in command...
...their goal. The chief problems: the unsettling mid-campaign departure of President Kingman Brewster, and overreliance on volunteer solicitors (more than 5,400 of them). Though 44 contributors pledged $1 million or more (biggest single gift: $15 million from New York Publisher-Philanthropist John Hay Whitney), there were fewer fat-cat givers than had been expected...
...Says University of Chicago Sociologist Edward Shils: "We went mad over higher education. Giving every teen-ager an opportunity to go to college became a mark of American grandeur in the world. It was a silly delusion." Northwestern's Ellis puts it more simply: "We let ourselves get fat." Sound management principles were ignored. Argues Sumner G. Rahr, a fund-raising consultant: "The businessmen on college boards didn't apply tough financial standards at board meetings. They figured, 'Oh, the nuns will come through again,' or 'Old Mr. Chips will bail...
...after almost a decade of trimming fat-mowing the lawn less often, deferring painting and plastering, scrapping expansion plans, reducing support staff-private colleges face the prospect of still deeper cuts. Notes Notre Dame's Hesburgh: "The situation is all the more dangerous because it is a slow-burning crisis that could gradually erode the financial health of many institutions before the country wakes up to the problem...
Sell the Students. Leonard Meyers, development chief of Florida's Eckerd College, displays a loose-leaf "baby book"-a collection of photos and biographical sketches of students who need aid-when visiting local fat cats. Says Meyers: "We ask donors to adopt a student...