Word: payouts
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University President Lawrence H. Summers likes to claim that the priority here is on creating an environment that ensures academic excellence. If this were really the case, HMC would be putting more than the 4 percent (initially 2 percent) payout pittance into University funding this year. Budget cuts in already-limited student services would be the last thing on administrators’ minds. And $107.5 million certainly would not be going to those whose only job is to further fatten the company’s coffers...
...Landau stands to make at least €10.5 million in severance and maybe twice as much once benefits and gains from stock options kick in. The disclosure caused a ruckus in France ; the UNSA union called it "organized racketeering with the firm's cash." Quizzed about the payout, Landau said it wasn't part of the deal with Sanofi and that he hadn't "had time to make the calculation" of its size. Heinz-Werner Meier, Aventis' HR chief in Germany , told German daily Die Welt that the payout was "absolutely customary by international standards, and even...
...numbers the Corporation will see are likely to represent the University’s perpetual financial crunch, exacerbated this year by a sputtering economy and rising benefit costs, which overshot projections. The Corporation voted in December to increase payout from the endowment for next fiscal year by 4 percent, a meager figure but still larger than previous threats of a 0 or 2 percent increase...
...payout increase is likely to remain firm at 4 percent for next fiscal year, Berman said, leaving Harvard’s schools, especially those heavily reliant on the endowment, with little wiggle room in their budgets...
Nevertheless, with help from the top, Chalabi got his share of the money. In October 2002, at a meeting of President Bush's top aides, according to a former senior National Security Council official familiar with the session, Vice President Dick Cheney pushed forcefully for the payout, saying, "We are nickel-and-diming the I.N.C. when they are providing critical intelligence" on Iraq's WMD. Oversight of Chalabi's information operation was shifted from the skeptics at State to the Pentagon, where his champions included Defense Secretary Donald Rumsfeld and Deputy Secretary Paul Wolfowitz...