Word: rosee
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...They were really tax-adverse, and they did anything possible to reduce taxes,” Rose said, pointing to the individual greed of HMC’s executives. “I had to deal with the money managers’ mindset [that] if Harvard somehow has to pay a tax, that would reduce their take-home pay as well...
Jerome Kurtz, the independent attorney retained by Harvard to investigate the HMC practices and a former Internal Revenue Service commissioner, said he does not recall Rose or his concerns, though “that doesn’t mean it didn’t happen.” He added that he only remembers being hired to examine compensation arrangements with some of the investment managers, though he verified that signatures on correspondence with Rose regarding the concerns were indeed...
Shortly after his resignation, Rose said he became increasingly concerned that Harvard may have had ethically questionable ties to Enron, which went bankrupt in late 2001. Herbert S. Winokur ’65 served both on the secretive Harvard Corporation and on Enron’s board of directors, a dual commitment that Rose said he found disconcerting. He also found ethically troubling Harvard’s 49 percent ownership interest in former Enron affiliate Cook Inlet Energy Supply—which he said made substantial profits from the debilitating California energy crisis...
...despite the University’s internal investigation, Rose said he feared his ethics concerns were not being taken seriously by the administration. So he decided to go to the federal government, where he found sympathetic listeners...
...recent years, Harvard has included increasing amounts of disclosures on its tax forms. And in 2006, then-HMC chief Mohamed A. El-Erian hired a “chief compliance officer,” echoing a suggestion Rose made in a letter to Kurtz four years earlier. El-Erian, who succeeded Meyer and pledged to “rebuild and reinvent” the company, said at the time that the move was not prompted by regulatory requirements, but merely a desire to stay “at the forefront of the industry...