Word: hmc
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Dates: during 2000-2009
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...financial industry generally compensates its employees very lucratively, and it is naïve to assume that HMC should behave in any other way. Unless Harvard keeps pace, its top-caliber financial professionals might seek other jobs, leaving positions to be filled by less talented individuals. This same class of alums protested the $107.5 million HMC paid its top officials in 2003. When Harvard proceeded to sharply reduce HMC executive compensation, CEO Jack R. Meyer left the company along with many other successful money managers. It should not be forgotten that, in Meyer’s 15-year tenure...
...While HMC pays top managers large bonuses, in the long term those officials more than justify their compensations by generating impressive endowment returns. Between 1995 and 2005, for instance, Harvard’s endowment garnered an annualized return of no less than 15.9 percent, which amounts to much more than the sum total of officials’ compensation packages. It is also worthwhile to note that Harvard manages its endowment in-house, so HMC officials appear only on the surface to make much more than money managers at peer institutions. In reality, other schools may pay far more in management...
...years while it develops models that would be attractive to U.S. consumers. A government-supported initiative to sell vehicles in America would allow one or more of the car firms on the mainland to play on the same field that helped Toyota (TM) and Honda (HMC) build themselves into two of the largest companies in the world...
...HMC awards bonuses to managers individually based on value added to the endowment above specified market benchmarks; it subjects bonuses to a “claw-back provision” that allows the University to take back the bonuses if funds perform below these market benchmarks at later dates...
...Yale Chief Investment Officer David Swensen—who makes roughly $2 million a year—has criticized HMC’s high salaries in the past, saying that such pay “tears at the fabric” of the University and leaves HMC “inherently unstable...