Word: goa
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Dates: during 2000-2009
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...University’s various schools in a General Operating Account that is invested alongside the endowment—a practice that the report said “generated significant positive investment results” in the past. But this year, that strategy backfired, dragging the value of the GOA down from $6.6 billion last year to $3.7 billion this year. Part of that decline reflects the payments made to terminate interest rate swap agreements...
According to the report, the GOA is used to manage and execute all University financial transactions, including routine bill payments...
...Shore, Harvard’s CFO, also told The Globe that the GOA losses did not prevent the school from meeting its existing obligations, and that the University’s cash position was secured by new debt issued by the school this year. Nevertheless, Shore said in an interview posted by Harvard that the school has adjusted its investment strategies to emphasize short-term flexibility and cash needs and will continue pursuing such “rebalancing efforts” in the future...
...being pared down by as much as 25%. According to event managers in Mumbai and New Delhi, many Christmas and New Year's bashes at leading hotels have either been cancelled or scaled down. "We've seen 30% to 40% cancellations for New Year's eve in our Goa property," says Anjali M. Chatterjee of Bharat Hotels, who run the Lalit Goa Resort, "Usually there's a spike in bookings for December 23 onwards, but at the moment, things are pretty flat...
...worst. I tried not to eat there this summer. The food was terrible: five kinds of sizzlers and “chilly chicken.” But Leopold’s was a convenient meeting place, full of dreadlocked backpackers and girls tan from the beaches of Goa. I kept finding myself at a table in the corner...