Word: financee
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Dates: during 1960-1969
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In the aftermath of the April crisis, the GSD Expansion Committee made a formal proposal to the University: construct 500 units of housing on Shady Hill, open half of them to lowincome community residents, and finance the construction through state programs and loans from Harvard's endowment.
The University is planning to finance the project under Massachusetts's newly-established Health and Higher Education Facilities Authority. In essence, this authority helps universities, hospitals. etc. to finance construction at the rate of interest for tax-exempt bonds, rather than at the higher market interest rate. The authority issues...
So, for the present, Harvard is concentrating on cutting construction costs, hoping that the state authority will soon be underway and able to finance construction at an interest rate which will permit rents to be set low enough for most junior faculty members.
The nickel find was made by Ken Shirley, 55, a veteran of 40 years' prospecting for gold in the Outback. Last year he went to work for Poseidon. He found several promising outcroppings and staked out the drilling site. The big payoff has gone not to Shirley but to...
Saul Steinberg is a 30-year-old wonder who founded Leasco, a pioneer computer-leasing company, two years after graduating from the Wharton School of Finance and Commerce in 1959. Since then, by extending his successful leasing activities into other areas and adding insurance and data-processing operations, he has...