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Jan 09Feel better, Beloit College kids.
At least my alma mater isn’t firing half its faculty or selling the Logan Museum.
Peter French, Brandeis’s chief operating officer, explained that the university’s situation is far more dire than it appeared in news accounts… He objected to the word “bankrupt,” but what would you call an institution with a projected deficit of $79 million over the next six years, a tapped-out reserve fund, a shrunken endowment and “quite a number” of big donors hit hard by the Madoff scandal?
Brandeis has already cut expenses and staff this year and last, and raised tuition and fees. French said the alternative now was either a drastic shrinking of the university or selling the art. Faced with the prospect of closing 40 percent of the university’s buildings, reducing staff by an additional 30 percent, or firing 200 of its 360 faculty members—any of which, French said, would drastically change the university’s mission and essentially cripple it—“We’d rather use Rose.”
HT: The Daily Beast
January 29th, 2009 at 2:18 pm
Of course, Brandeis being Jew U, most of their major donors are Jewish. And Madoff was very particular about targeting wealthy Jews. It’s like a perfect storm. Gosh, that sucks.
January 29th, 2009 at 2:38 pm
“Not if you hate Jews!”