Word: payout
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Perhaps. Despite Wiedeking's gestures of charity, though, Germans have already begun grumbling about the huge payout he received. Dietmar Barsch, general manager of the leftist party Die Linke, calculated that even compensation of $35 million was equivalent to 250 Porsche 911 Targa 4 models. "This is not about social envy. The sum is absurdly high and has no relationship to any work he performed," Barsch said...
...also drew more heavily from the endowment in fiscal year 2009 than in the past. Its endowment payout, which was $94 million in fiscal year 2008, increased to $115 million in fiscal year 2009, which ended Tuesday...
...Because the Law School's share of endowment payout for fiscal years 2010 and 2011 may fall by as much as $19 million from this past year's payout, administrators have come to view layoffs as a "painful" but necessary cost-cutting measure taken only after an "exhaustive look at all other possibilities," Jackson wrote. Staff attrition and redeployment, along with the University's voluntary early retirement incentive program, already helped to achieve most of the necessary downsizing...
...While its expenditures have been relatively conservative in past years, the Law School remains dependent on endowment revenue for 37 percent of its operating budget. A payout decline of $19 million would represent over 10 percent of the School's current budget, and earlier this spring, the Law School's departments were each directed to cut costs by about 10 percent...
...University officials had originally stated in March that the payout would decrease by 8 percent this coming year and by at least the same amount the following year. Spokesman John D. Longbrake said they have since revised their guidance to suggest a 12 percent decrease for fiscal year 2011, which begins a year from this July...