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...women and children from their villages, which they then leveled. After the war, they used force to prevent any of them from returning. Then the new state summarily confiscated their land and property for redistribution to Jews. The remaining Arab population of Israel—now about 20 percent??eventually received formal legal equality, but live in second-class citizen status similar to that of American blacks in the North before affirmative action and the rise of the new black bourgeoisie...
...decade ending 2006, Yale achieved annualized endowment returns of 17.2 percent, beating Harvard’s return of 15.2 percent??a figure that the alums have cited in arguing that high returns can be achieved without high salaries and that external managers may be more cost-efficient...
...Although Princeton is increasing funds for graduate student fellowships by 3 percent to help students cope with the financial crisis—Princeton’s endowment has been relatively less hard-hit than Harvard’s, losing 11 percent of its value as Harvard lost 22 percent??next year’s Ph.D. class size will remain the same, according to the university’s graduate school associate dean, David N. Redman...
With the national unemployment rate nearing 7 percent??a figure not seen in the U.S. since 1993—several states have seen their unemployment insurance trust funds shrink to dangerously low levels, with some states already taking out federal loans to pay unemployment benefits. But Massachusetts’ unemployment benefit system remains “strong and solvent” for the foreseeable future, bolstered by over $1 billion in trust fund reserves, according to Robb Smith, director of Policy and Planning for the Mass. Labor and Workforce Development Office. From January through November 2008, the state...
...endowment and prompting cutbacks across the University. In November, University President Drew G. Faust sent a dire but vague warning about the impact of the financial crisis, and details began to materialize soon thereafter. December began with the announcement that Harvard's endowment had dropped an unprecedented 22 percent??or $8 billion—and likely lost more when accounting for updated asset prices. The Faculty of Arts and Sciences halted most staff hiring in late November and then froze Faculty wages and put 70 percent of ongoing tenure searches on hold shortly after the endowment announcement...