Study raps schools’ Wall Street strategy
A new study says Harvard and five other New England schools borrowed Wall Street investment strategies, took on too much risk and deepened the financial crisis, Bloomberg reported May 20 (see university endowment story).
Panera Bread uses donations to feed hungry
A café run by Panera Bread in a St. Louis suburb is refusing payments from affluent customers and instead asking for donations that are used to provide free or low-cost food for people who need it, The New York Times reported May 20 (see pay-what-you-want story).
Tax filings counter endowment claims by school’s ousted chief
Tax filings by the Kansas City University of Medicine and Biosciences show its endowment totaled only $6.7 million at the end of June, compared claims by the school’s fired president, Karen Pletz, that she raised the endowment from zero to as much as $70 million, The Kansas City Star reported May 18 (see disputed endowment story).