Word: hmc
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Gordon also said he wants HMC to "come clean"about the exact manner in which it awards bonusesbased on performance relative to the bench marks.The compensation system--which was revised whenHMC President Jack R. Meyer began working at thecompany in late 1990--has never been adequatelyexplained, Gordon says. The alumnus, himself aveteran investment manager, suggests that itallows for artificially high incomes...
Gordon went on to accuse HMC of failing toregularly disclose its investment activities,which Meyer had promised it would when he arrivedthree years...
Other officials involved with managingendowments disagreed with Gordon's harsh appraisalof HMC...
...HMC is absolutely excellent," Griswold said."They know a great deal and are one of the largestand most sophisticated organizations of theirkind...
...Harvard's [HMC's] reputation is great," saidRicks, who oversees the investment of the nation'ssecond largest university endowment. "It is viewedas a leading, if not the leading, organizationwith regards to university management...