Word: profiteered
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Harvard and the Boston Redevelopment Authority launched the Harvard Allston Partnership Fund on Monday, which will provide $500,000 in grants over the next five years for community improvement proposals submitted by neighborhood non-profit groups. The Fund, which aims to foster neighborhood improvement, cultural enrichment, and educational programs in Allston, is part of the Allston Science Complex Cooperation Agreement. The agreement, signed in April of last year, stipulated that Harvard provide $25 million worth of community benefits to the neighborhood in order to proceed with construction of the complex. Kevin A. McCluskey ’76, Harvard?...
...comes the hangover. Funds launched in 2005 and 2006, which invested most of their capital at the market peak, will struggle ever to turn a profit. But research firm Preqin reports that of $2.5 trillion in private-equity assets worldwide at the end of 2008, $1 trillion was "dry powder" - cash that hadn't been invested. There are lots of cheap companies out there, and private-equity firms with cash on hand will surely hit a few home runs with investments made in the coming years...
After that, what you think of the industry's future depends on what you think has enabled it to make so much money in the past. The optimists argue that PE firms profit by being good at governing corporations. "When you've got overly ambitious and hardworking people who are putting their own money at risk," said Carlyle Group managing director David Rubenstein when I got him on the phone, "it's an alignment of interests with management and shareholders that will always enable private equity to make money...
...Forum to listen to Waldorf talk about his experience with the match-making start-up. Waldorf joined the company in August 2000 as a founding investor. The main question Waldorf addressed was a central problem facing Internet entrepreneurs. How can online businesses devise a model that could turn a profit when people are accustomed to free services and online advertising has failed generate substantial revenue? Currently, eHarmony charges $59.95 for a one-month subscription. “It’s not that young people don’t want to pay for services on the Internet. Nobody wants...
Oldfield said that students need to be more “in the know” about University finances. He stressed that Harvard’s non-profit status—and tax breaks—result from the large number of jobs the University provides for the community...