Posts filed under “Corporate Management”
Overall, it’s a swing in the financial fortune of one of the country’s top private universities and one of the world’s most esteemed Jewish institutions of more than $1.3 billion, well more than 10 times the losses from the portion of Yeshiva’s portfolio invested with Madoff. Students who applied to and enrolled at a school that had spent aggressively for 10 years now find themselves at one where drastic budget cuts need to be taken, assets need to be sold off, and key operations relevant to the school’s status as a top-tier institution, such as the graduate schools, are being cut. To get back on track, Yeshiva would have to find a way to generate growth in the school’s student and donor base (e.g., tuition hikes, increases in enrollment, and funding solicitations) sufficient to balance its budget and pay down its debt, while slashing its budget and selling off assets in a way that doesn’t hamper that growth. Yeshiva is now selling off at least ten of its buildings in an effort to generate cash, and it has entered into an agreement with Montefiore Medical Center to operate the university’s medical school in a deal that rids Yeshiva of a major annual expense while risking its status as a leading research university.
Yeshiva had a greater % of Hedge Fund investment than any other University endowment in America:
How to lose a fortune
EPIC FAIL: Sell bonds, Swap into Hedge Funds
Source: Take Apart
The Criminology of the “Sure Thing” Portrayed as “Risk” John Coates, a former derivatives trader at Goldman Sachs is now a researcher. He wrote a column in the New York Times entitled “The Biology of Risk” that I hope will be widely read. In this column I explain why his most important conclusions cannot follow…Read More
In yesterday’s column, I wrote: If you have an issue with Social Security, then fix it. The regressive taxes to fund retirement benefits top out at about $117,000 in 2014. Why not simply raise that to $250,000 next year and $500,000 during the next 20 years. Congratulations, you just made Social Security solvent for the…Read More
@ritholtz I’ve read about other orgs before, and they don’t usually talk about a “search for the truth” and “getting to the other side” — Joseph Weisenthal (@TheStalwart) June 8, 2014 The other day, I got into a Twitter discussion with Joe Weisenthal and others on the hedge fund Bridgewater. A WSJ article had described…Read More
Bloomberg’s Keri Geiger, Richard Farley, partner at Paul Hastings, and Bloomberg View columnist Barry Ritholtz break down the guilty plea by Credit Suisse that ends a three-year probe on tax evasion by the U.S. Justice Department and how the outcome could potentially impact the banking industry.
Source: Bloomberg Television’s “Market Makers.”
Every day brings multiple new scandals. At least they used to be scandals. Now they’re simply news items strained of ethical content by business journalists who see no evil, hear no evil, and speak not about evil. The Wall Street Journal, our principal U.S. financial journal ran two such stories today. The first story deals…Read More