Word: specializer
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When asked about these companies’ current locations, University spokesman John D. Longbrake declined to comment. He also would not elaborate on whether Harvard continues to have special reduced-fee arrangements with external investment managers, writing only in an e-mailed statement that Rose’s complaints were “the subject of a thorough review by an external expert” that ultimately concluded they were “without merit...
...Rose was not alone in voicing such concerns. A 2004 New York Times article raised questions about HMC’s advantageous relationships with firms run by former employees, and quoted then-Chief Executive Jack R. Meyer as saying the special agreements had yielded $125 million in savings for the University up to that point...
Daniel Halperin, an HLS professor who specializes in tax policy and non-profit organizations, said that an evaluation of the proper tax treatment for the income would also depend on whether Harvard’s share of the management fees is collected from regularly conducted trade or business, and the reasons why Harvard is making special arrangements with the money managers. He added that resolving these issues conclusively is difficult without access to more detailed information...
...Vargas certainly does not seem to have been hurting from the care and feeding of his steeds - or skimping on providing for them. His Lechuza Caracas polo team plays around the world, and he transports his stable of 60 ponies - estimated to cost about $100,000 each - on special jets...
...numbers. When a crisis hits, there is all too often a lurch from shock to trance, with everyone responding to the tempest of the moment until the furor has died down ... instead of confronting major challenges that will shape our future in a sustained and focused way." (See a special report on Obama's first 100 days...