Word: june
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...Yesterday, the administration announced a 22-percent decline in Harvard’s $36.9 billion endowment over the last four months—the sharpest drop in history. Worse yet, Faust predicted continued gloom for the endowment, with a forecasted 30-percent drop for the fiscal year ending in June 2009. At the same time, current estimates call for the Faculty of Arts and Sciences (FAS) to make next year’s budget about $200 million thinner. In other words, add Mass. Ave. to the cliché about Wall Street and Main Street. Faust’s original letter...
...some of Harvard’s money is invested with external managers that have yet to report their latest figures. Faust and Forst wrote in yesterday’s letter that the University should plan for a 30 percent drop-off in endowment value for the year ending June...
...Staff writer June Q. Wu can be reached at junewu@fas.harvard.edu...
...hope tax cuts are better targeted than that,” Frankel said. “It should be possible to give a lot of fiscal stimulus in the short term without locking in a fiscal disaster for the long term.” —Staff writer June Q. Wu can be reached at junewu@fas.harvard.edu...
...Democrats mull an auto-industry bailout plan, it's worth recalling a pair of Republican legislators from the past. One of the most derided pieces of 20th century economic policy was introduced by Senator Reed Smoot of Utah and Representative Willis C. Hawley of Oregon. Signed into law on June 17, 1930, the notorious Smoot-Hawley Act jacked up U.S. tariffs on more than 20,000 imported goods, sparking a global trade war that deepened the Great Depression at home and spread it abroad...