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The Ivy Debt Sweepstakes
One would think that a Board of Trustees heavy laden with MBA’s would at least keep the College’s finances sound — even if they have nothing to say about academic innovation. But no. This space has long lamented the fact that the College’s endowment went from the Ivy’s fastest growing between 1990-2000 to the slowest growing since 2000. And what the endowment hasn’t provided, the adminstration has drawn in increased debt and the second highest student tuition/room and board/fees in the Ivies.
That sad performance has not passed unnoticed. In a piece in the Cornell Alumni Magazine (“The Other Debt Crisis”) that reviews the Ivy debt binge of the last decade, the authors point out Cornell’s burgeoning indebtedness: today Big Red has 38.4 cents of debt for every dollar in its endowment. Dartmouth comes in second in the Ivies at 32.3 cents, even though we have more endowment dollars/student than anyone except Harvard, Yale and Princeton:
In 2000, we had only 11 cents of debt for every dollar of endowment funds; at that time, Cornell had 15 cents of debt. We can’t go on this way.
Our awful management has not gone unnoticed by the ratings agencies, as the article notes:
Phil has a lot of work to do.
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…