Word: reals
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Dates: during 1960-1969
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...Real success, however, is not so simple. Last week the Beatles lost control of Northern Songs when a consortium of financial companies added their 14% to Associated's holdings and made a deal in which it will name four of the six directors. Britain's High Court will decide next month on who should pay whom in the Nemperor case. As for Apple, it is too soon to see whether Klein's pruning will produce profits...
...last ten years. This is misleading because during their period government contracted and funded research rose eight-fold to 55.4 million dollars. This cost Harvard virtually nothing but it makes the budget look much bigger and distorts how much costs have really risen. Delete this amount and the real (non-governmental) expenses increased by 122 per cent, not 200 per cent (from 43.2 million dollars to 96.0 million dollars...
...this rate was 5.2 per cent and thus $34,000,000 was distributed, of which $30.5 million went to endowment funds and paid for 32 per cent of the University's expenses for the year. Meanwhile, $33.1 million was collected from student fees. Of course, the real rate of distribution was not nearly as high as 5.2 per cent...
Perhaps ten years is not long enough to tell for sure what the ultimate effects would be on the University's finances. What about the "needs of the 'longer long term?" In fact, with real expenses rising linearly and the investments rising exponentially, Harvard cannot lose over time by allowing the endowment to shoulder more of the burden which student fees now carry...
...sort of place, as Dean Bender pointed out, which the two Roosevelts would hardly have been "admitted to or would have wanted to enter. . . . " This last, of course, is crucial. Bender makes it quite clear that -- financial arguments aside -- Harvard perceives as its purpose the education of the real leaders of tomorrow. And with firm sociological insight, it recognizes that potential leaders are most likely to be, by the process of "inheritance and nurture," the children of those presently ruling (or leading, depending on your politics...