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The Effects of Good and Bad Governance
Yesterday’s post about the whistleblower letter by the anonymous Friends of Eleazar Wheelock group of Dartmouth employees detailed the placement over the last decade of much of the endowment with investment funds run by Dartmouth Trustees and other alumni cronies. Let’s update the figures showing the disastrous effect of this policy.
During the 1990-2000 period, Dartmouth’s endowment enjoyed the highest growth in the Ivy League:
In the subsequent eleven years (2000-2011), with much of the endowment in the hands of Trustees and their friends, the endowment had the lowest level of growth in the Ivies.
What will be the end result of this corrosive insider dealing, and the concomitant atmosphere of spin and dishonesty that pervades the administration? At some point in time, faculty, students, staff and alumni will say that they have had enough of poor governance — and of Dartmouth. However, I fear that none of these groups will act collectively to stop the rot; rather, individual members of the faculty will leave Hanover, the best students won’t come here, the finest staff members will depart, and alumni will reduce their donations to the College. One can argue that this process has been underway for some time now.
Addendum: As we have noted, to make up for the endowment’s poor performance, the Trustees permitted the College’s total debt to explode over the past twelve years, both in absolute terms and in comparison to our Ivy sister schools.
August 14, 2013
Breaking: Of Crips and Bloods and Memories of Ghetto Parties
History repeats itself, first as tragedy and then as farce, or sometimes it just repeats itself. From the New York Times on November 30, 1998: At Dartmouth College, white students at a ”ghetto party” dressed…
June 25, 2013
Dean of the College Charlotte Johnson’s War on Students Part (2/2)
Today’s post again recounts the events that befell the Freshman. However, the content of the Hanover Police department report reproduced in this space yesterday is supplemented by information from my own interviews, a review of…
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…