Word: slash
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...funky roommate named recession is settling in on campuses this fall as colleges and universities slash budgets for virtually everything from salad bars to ski teams. U.S. colleges and universities suffered, on average, a 23% endowment drop in the second half of last year, according to a study by a group of campus business officers. That reduction in funding has set off a scramble to freeze hiring, cut hours and hunker down until the economy improves. "Institutions will have to manage with less," says Oberlin's vice president for finance, Ron Watts. Here's a look at how schools...
...University did slash work hours for over 100 of its own janitors in July, and numerous janitors it employs through outside firms—a group not addressed by Galvin’s statement—have been laid off in recent months as a result of reduced custodial budgets...
Owing to budget crises, many states are now having trouble affording to keep so many people locked up. Some states are cutting incarceration expenses by consolidating prisons; some are trying to slash prison-food and health-care costs. But real savings come only when you reduce prison populations, and so some states - including California, Colorado and Kentucky - have begun releasing inmates early. "The pressure in state legislatures all over the country is to bring down the populations, because we just can't afford the level of punishment that we've had the last 20 years," says Joan Petersilia, a criminologist...
...bother with the tax? The logic for Europe is simple. The E.U. has pledged to slash greenhouse gas pollution by a fifth of 1990 levels by 2020. But the bloc's Emission Trading Scheme only covers around 40% of its emissions. The U.S. plan, by comparison, will cover roughly double that portion, says Simon Tilford, chief economist at the Centre for European Reform in London. (Unlike the U.S., Europe, didn't include the petroleum sector in its own scheme, preferring to more heavily tax the industry instead.) Extending the "fiendishly complicated" system, as Tilford calls it, would be enormously difficult...
...Bureau of Study Counsel will raise hourly tutoring rates starting today from the $4 fee students had to pay last year in an effort to cut costs as the College grapples with a mandate to slash budgets...