Word: surpluses
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...winemaking business like Turkey, China, Brazil--that the world is currently awash in the stuff. In 2004 worldwide production hit its highest level in 20 years, almost 300 million hectoliters, or 15% more than the previous year. The glut is hurting producers everywhere, particularly in Australia, which has surplus wine stocks that exceed a year's worth of exports. Many grape growers there simply let this year's crop rot on the vine rather than harvest...
...gist of Interim Dean of the Faculty Jeremy R. Knowles’ recent letter to professors on FAS’ financial outlook. Although FAS—the umbrella organization that funds the College and the Graduate School of Arts and Sciences—currently has a small surplus on its $950 million budget, it is expected to have a significant deficit starting next year. In his letter, Knowles sounded an ominous alarm, writing, “[I]nstitutional interventions will help, to be sure, but they must also be accompanied by individual efforts. Each of us can help?...
...From discussions that I have had, I feel very, very confident that with the endowment, with support also from the central part of the University...I would absolutely expect that rather than face a deficit in Fiscal Year 2009, we will have a surplus," Kirby told The Crimson in December...
...bright spot in Knowles’ report was his revelation that FAS ended the most recent fiscal year with a $4.9 million surplus. The resources panel predicted in January that the school would face a $40.7 million shortfall...
...that black ink might be a red herring—the surplus appears to stem from stalled initiatives rather than the Faculty’s fiscal fortunes. "[S]everal major projects were delayed or deferred and a number of new faculty recruitments were not completed," Knowles wrote...