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dwot (29.61)

Endowment funds hurt

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December 03, 2008 – Comments (2)

This was an interesting piece about how U of T has said they won't be funding any projects next year because of their investment losses.

"The funds, which were slated to generate $62-million in income next year to support research, student aid and faculty posts, have been hit like many other investments by the recent financial market freefall.

As a result, the "protective cushion" that was built up in good times is now gone, says a recent memo sent by the university's interim provost, Cheryl Misak."

I suspect this type of funding is going to be hurt everywhere...

 

2 Comments – Post Your Own

#1) On December 03, 2008 at 12:23 PM, Retirnsoon (< 20) wrote:

Actually the Florida bubble didn't burst until mid 2006.  It had a slow leak in the end of 2005, but the actual pop didn't happen until '06.  Not until the credit crisis did the bottom drop out, that's after I sold my condo.

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#2) On December 03, 2008 at 4:35 PM, SideShowMel0329 (32.85) wrote:

My university (University of Virginia) is also seeing extreme budgeting cuts.

All of the public universities are in for some rough times.

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