Word: neared
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...insurer AIG is now on the brink as well, and a financial crisis that has been rolling along for more than a year now, and you get a day that will be enshrined in the history books. Whether it will go down as an economy-shattering debacle or a near miss is something we'll only figure out over the coming days and weeks. The initial reaction of U.S. stock markets - down sharply but far from disastrously at the open on Monday - is that it's the latter. But who knows...
...Jones average fell 504.48 points, to 10,917.51, its lowest close since 2006, while the S&P 500 dropped 58.74, to 1,192.96. The S&P decline worked out to 4.69%, the worst percentage fall since the day markets reopened after the Sept. 11, 2001, terrorist attacks, but nowhere near the severity of the crashes...
...near-record number comes as Harvard lays the groundwork for a long-delayed capital campaign that was derailed by administrative turmoil surrounding the resignation of former University President Lawrence H. Summers and the subsequent interim leadership of Derek...
...Despite the fact that the University is not in the midst of a capital campaign, its fundraising level has kept it near the top of the heap in the world of higher education. In fiscal year 2007, Harvard’s $614 million haul was only exceeded by Stanford, which netted $832 million. The West Coast school is in the midst of a five-year, $4.3-billion capital campaign that is among the largest in the history of higher education...
...announcement of the near-record fundraising coincided with the news that Harvard’s endowment grew 8.6 percent in the most recent fiscal year, a strong investment performance in the face of recent market turmoil...