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Forst said University leaders have delayed setting the endowment payout rate for the next fiscal year—a figure generally announced the December before—until Harvard’s schools can reevaluate their budgets...
...Given the extreme volatility in the markets, I don’t expect [the payout rate] will be set until we have a much more concrete sense about financial plans and endowment performance,” Forst said...
Leveraging its strong credit ratings—the highest granted by rating agencies Moody’s and Standard & Poor’s—Harvard will issue new taxable fixed-rate debt. Unlike tax-free debt, these bonds can be used for any University expenditure and thus increase Harvard’s cash flexibility, Forst said...
...online spending reached $8.2 billion, a 4% decline compared with the corresponding days last year, when online sales hit $8.5 billion, according to the online-marketing research firm comScore. The firm predicts that online-shopping growth will be flat for November and December - significantly lower than 2007's growth rate of 19% and below the retail e-commerce growth rate of 9% year to date in 2008. "I don't know that this is the only prediction to go by," says Ried, noting that other firms like Forrester Research expect to see online sales grow about 12% for the holiday...
...Schwarzenegger plan would give banks and mortgage servicing companies an out. If they don't want to wait the 90 days, they could agree to temporary interest-rate cuts to reduce the homeowner's monthly payments to an affordable amount. The idea is to make it possible for homeowners to pay their mortgages rather than writing off their debt as bad loans...