Word: fiscal
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Harvard’s endowment ballooned from $29.2 billion to $34.9 billion in the most recent fiscal year, marking one of the most successful years of investment since 1974, the University announced Tuesday...
...gives you," he said. "We had a couple of years when we had lost a lot of talent, and now we're back to an equilibrium. The transition is complete." Distributions from the endowment to the University's operating budget hit a record-setting $1 billion in the 2007 fiscal year, according to a University press release. Last month, the University lost $350 million when Sowood Capital, a hedge fund started in 2004 by former HMC manager Jeffrey B. Larson, reported huge losses. Harvard had initially invested at least $500 million with the fund, but the most recent figures...
Considering the challenges, it's hard to see how DLF's spectacular growth rate can be sustained for long. In its fiscal year ending March 31, 2007, DLF reported that its profit grew more than 1,000%, to $470 million, while sales tripled, to just under $1 billion. After a stupendous two-year run, DLF's stock is unlikely to move much further, says Mukesh Agarwal, a manager at Indian financial-services firm HDFC Securities. "The upside may be limited...
...losing their jobs, their houses, their cars because they're being called back to Iraq for a third time," Correa says. "Would we try to deny tuition assistance to World War II veterans? What's the difference between those heroes and these heroes?" The answer may be our fiscal priorities...
...Bush Administration has asked Congress for $8.6 billion to build up the Afghan National Security Forces over the next two years, with the international community contributing an additional $1.7 billion a year thereafter. (Considering that its fiscal 2005 GDP was $7.1 billion, Afghanistan can hardly be expected to foot the bill.) "It's a bargain," says Major General Robert Durbin, former commander of the Combined Security Transition Command in Afghanistan. "We are spending $15 billion a year now for the presence of U.S. forces. So for a fraction of the cost, you have the Afghans pick up the fight...