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College Investment Practices Take Hit
Bloomberg is the latest media outlet to give a voice to criticism of the College’s investment practices. Yesterday Joshua Humphreys of the Tellus Institute was interviewed at length on the conflict of interest facing many members of the Board of Trustees.
Humphreys rightly points out that when an investment decision involving Board Chair Steve Mandel ‘78 or Investment Committee Chair Bill Helman ‘80 comes up, and either one of them leaves the room, the remaining committee members are hardly free to make decisions in the best interests of the College. Firstly, the committee members know well that Mandel or Helman won’t be happy with a negative decision, and secondly, if they vote “no” on a Mandel/Helman investment, it is possible that Mandel and Helman will turn around and vote “no” on one of the members’ proposals. So, in the end, everyone learns to play nicely with each other — to the detriment of the College. No clearer conflict of interest between Dartmouth’s interests and that of individual Trustees can be imagined.
Addendum: Good to see Bloomberg doing incisive reporting on the College’s affairs. Michael Bloomberg’s significant other is Trustee Diana Taylor ‘77.
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…
August 23, 2009
Fare Thee Well, Tom Crady
And now Dean Tom Crady has precipitously announced his departure from the College after only 20 months on the job. How to read this? By way of background, prior to coming to Dartmouth, Crady had…
May 31, 2009
Kangaroo Court, Indeed
In an interview with The Dartmouth, alumni-elected trustee T.J. Rodgers ‘70 explained his reasons for declining to participate in future evaluations of trustees up for “re-election,” namely the “kangaroo court” nature of such discussion in…