Word: non-profit
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...stealing siblings were in more than 15 Tarzan movies, and as a specialty, Westfall says, "Jiggs would always grin with his upper lip above his mouth.'' In retirement, Jiggs has become an artist--a simian Grandpa Moses--and sales of his paintings are to fund the Cheeta Project, a non-profit foundation that will aid other chimps and keep Jiggs on his daily diet of fruit, Purina Monkey Chow and the occasional Oreo as a treat. Tarzan's tree house was never like this...
...decision to seemingly fire Hickey might make sense if Harvard had slipped a point on NASDAQ. But Harvard is a "non-profit" corporation and, as such, cannot offer stock. Harvard has the means to continue paying for Hickey's employment without batting an eye. It should reward a worker like Hickey, not punish him for being loyal. And it certainly shouldn't bemoan its own poverty as justification for spurning Hickey and his peers...
Last year "non-profit" Harvard had what amounts to profits of nearly $2 billion, as its endowment skyrocketed from $7.4 billion to $9.1 billion (see last week's issue of the Harvard Gazette for these figures). According to the University's homepage, the total annual expenditures of Harvard are only $370 million. This is about 20 percent of what Harvard stuffed into its endowment last year. Even if the profits dumped into the endowment last year paid the entire tuition of all 18,800 students, Harvard would still have raked in around $1.3 billion for its precious endowment...
Even more ridiculous, rich Harvard, the largest landowner in Cambridge, is exempt from nearly all taxes because of its "non-profit" status...
...fantastically wealthy "non-profit" corporation can easily keep workers like Hickey without sacrificing the future of the University. Harvard should face up to the truth--it is unnecessarily hoarding cash at the expense of people, like Hickey, who depend on the money for their livelihood. When the current students graduate and are hounded by Harvard for contributions, they should reflect upon its insatiable greed, and they should give their money to a worthier cause. The technically proficient, mindless automatons running this University, and not Joe Hickey, should be offered severance...