Word: payout
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Dates: during 2000-2009
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...Harvard spent $1.6 billion of its endowment in 2008 to cover operating expenses and capital projects, an increase of nearly 25 percent over previous years and the University’s largest endowment payout ever...
...recent woes must include the name Fiat. Not only did a 2000 partnership between the U.S. and Italian carmakers sputter badly - as the two companies struggled to find consumer-friendly models and integrate their production facilities - but also GM was eventually forced into an unprecedented $2 billion "divorce" payout to avoid having to purchase the then debt-plagued Fiat...
Fiat, which began a remarkable turnaround with the whopping cash payout from GM in 2005, is also struggling again, along with the rest of the auto industry, as car sales plummet amid a deepening economic crisis. Fiat has been itching to get its stylishly economic models on the market in the U.S., and the deal with Chrysler can be seen as part of a series of "strategic partnerships" it has sealed with other automakers in recent years, including one with Tata motors and a deal to build diesel engines with Daimler-Chrysler, before the breakup last year of that German...
...tough-as-nails dealmaker as he sat across the table from top GM executives. The Italian-born, Canada-raised Fiat chief told his American counterparts they would cough up the full value of the put option or battle it out in court. GM blinked, and the huge payout added to its accumulating troubles that today leave the American auto giant struggling to avoid bankruptcy...
...President Drew G. Faust announced that the value of our endowment had dropped precipitously by 22 percent since its June 30 estimate of $36.9 billion, the reality of the crisis hit home. Given that approximately one-third of the University’s operating budget is derived from the payout of the annual interest generated from the endowment and that tuition and donation income are expected to be affected as well, it is an inconvenient truth that budgets across all schools have to be tightened...