Word: payouts
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Attorneys for both sides refused comment, but a source close to the principals says Combs' payout to Stoute amounts to about $500,000. Part of the payout will be cash, and part will allow Bad Boy producers and rappers to work for Stoute on future records and videos. Stoute will drop the threat of a civil suit, but Combs is not out of the woods yet: he'll return to court in August to answer criminal charges. The relatively low settlement price is a sweet deal for Combs but carries enough concessions for Stoute to save face. And not least...
...December 2, 1998: Buffeted by a bull market and a strong economy, Harvard announced that it would add $95 million of endowment money to its operating budget for 1999. With the increase, the endowment payout moved closer to its traditional 4.5 percent, up from a historic low of 3.3 percent...
Last week's announcement that the University will increase its endowment payout by 20 percent next year is welcome news. Despite the big numbers involved, though, Harvard is merely returning to its normal spending level--a level many financial analysts agree is quite conservative...
...market reactions over future tobacco suits. This could invite legal challenges by those with smoking-related illnesses who see the breakup as a ploy to protect the assets of the food division in anticipation of settlements from such lawsuits. But TIME finance columnist Dan Kadlec says RJR's payout days are likely over and the spin-offs are just a long-overdue business move...
...September, Knowles announced a $9 million increase in the College's financial aid budget, which resulted in an additional $2000 for each student receiving financial aid. In December it was announced the University would also increase the payout from its more than $12 billion dollar endowment by 28 percent...