Word: moneyed
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Dates: during 1980-1989
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...Commencement address to alumni this June, President Derek C. Bok described a Faustian nightmare in which he sold off the University piece by piece to raise money for the endowment...
...when Bok and administrators do total up Harvard's bill, more often than not the money comes from the checkbooks of the University's wealthier alumni...
...although the ties--formal andinformal--Harvard establishes with its wealthieralumni are never made explicit, those links are acrucial factor in the University's spectacularsuccess in raising money...
Officials say that money alone is not enough ofa qualification for the Board, and that they tryto provide alumni with a diverse slate ofcandidates from which to chose. But insiders saypast generosity is always a plus...
...University can save money by encouraging active recycling programs like the one recently implemented at the Kennedy School of Government, Cebon said. He said Harvard pays about $700,000 a year to dispose of unrecycled trash...