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Graduate students and junior faculty members may find themselves with fewer opportunities to hone their teaching skills next year, as the Derek Bok Center for Teaching and Learning struggles to adjust to a 40 percent cut in its budget...
...staff affected by the reductions announced today, decisions to lay off staff, "in their human dimensions, are among the hardest that an institution like ours can make," Faust wrote. She emphasized that "difficult circumstances have called for difficult decisions across the University," and Hausammann pointed to the projected 30 percent drop in the endowment and other revenue pressures as motivation for the layoffs...
...regret the impact this will have on the lives of our valued colleagues. This decision was driven by the financial challenges facing the University after a projected 30 percent drop in our endowment, as well as pressure on other revenue sources, and it should not be allowed to diminish the many contributions made by these staff members during their time with the University...
...housing challenges affect the overall economy: "[H]ome equity fell by $2.5 trillion in real terms in 2008 and nearly $5.9 trillion (or 43 percent) from the 2005 level. The loss of housing wealth caused consumers to curtail cash-out refinances and pull back on spending, knocking an additional 0.9 percentage point off economic growth last year, according to Moody's Economy.com."(Read "Four Steps to Ending the Foreclosure Crisis...
According to Harvard's year-end financial report from 2008, HMC had over $7 billion invested in fixed-income assets as of June 30. Those assets included nearly $2 billion worth of domestic bonds—which had produced returns of 16.1 percent for that fiscal year, beating the HMC board-approved benchmark of 12.7 percent—as well as foreign bonds, inflation-indexed bonds, and high-yield bonds...