Harvard is laying off dining hall employees...

[Anonymous]

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

+1. These stories are coming from the free Beacon which is a super liberal tabloid started only in just a year and a half ago. It's like a student newspaper. Not worth readiding.

[Anonymous]

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

+1. These stories are coming from the free Beacon which is a super liberal tabloid started only in just a year and a half ago. It's like a student newspaper. Not worth readiding.

[Anonymous]

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

but a good chunk of it is fairly liquid.

taxpayers pay for those endowments because of the growth that is never taxed, and through the deductions on the big gifts. they owe us some better behavior.

[Anonymous]

Nice institutional values. Big endowment or not, they could afford to give these people cash for awhile.

[Anonymous]

Anonymous wrote:

Anonymous wrote:but has a $40 billion endowment. C’mon man.

This does not surprise me. Colleges employ a lot of low pay local folks who have GED's or High School degrees and do the grunt work on campus. Many times these are third and/or fourth generation employees who "get on" at the Univesity due to benefits and easy job. Many of these employees are single Mom's.

Most Universities don't give a flip about the local town/community. The executives would rather spend the money on a fancy new building or research on some fancy project or
support research internationally than help the folks at home. The poor are always with us and Harvard figures they can just hire some more GED's and high school
grads once the University opens again.

Shame, shame, SHAME on Harvard.

[Anonymous]

Anonymous wrote:It's laying off only those that don't fall under a union contract. All colleges and universities will be doing this to non union employees. The endowment is constricted by too many legal requirements to cover this situation. Many of the endowment gifts are restricted, as are mind to Harvard

This is a ridiculous argument.

I am sure that they can scrape around the seat cushions to find the money needed for this. Spin it any way you want, it's not a good look. We are paying our house cleaner, childcare and others even though we don't need them at the moment.

Missed opportunity to lead on this issue and instead it just looks petty.

[Anonymous]

Anonymous wrote:Nice institutional values. Big endowment or not, they could afford to give these people cash for awhile.

Exactly this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:but has a $40 billion endowment. C’mon man.

This does not surprise me. Colleges employ a lot of low pay local folks who have GED's or High School degrees and do the grunt work on campus. Many times these are third and/or fourth generation employees who "get on" at the Univesity due to benefits and easy job. Many of these employees are single Mom's.

Most Universities don't give a flip about the local town/community. The executives would rather spend the money on a fancy new building or research on some fancy project or
support research internationally than help the folks at home. The poor are always with us and Harvard figures they can just hire some more GED's and high school
grads once the University opens again.

Shame, shame, SHAME on Harvard.

You didn't read any of the explanations above by Harvardians did you? No, you rushed to judgment.

[Anonymous]

The Boston Free Beacon is wrong, as usual. https://www.thecrimson.com/article/2020/3/19/harvard-coronavirus-huds-custodians-paid-leave/.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

but a good chunk of it is fairly liquid.

taxpayers pay for those endowments because of the growth that is never taxed, and through the deductions on the big gifts. they owe us some better behavior.

+1. This. Private universities like Harvard receive hundreds of millions in taxpayer funded grants for research. They are sheltered from many taxes including property taxes. Harvard can afford to pay some hourly workers during a pandemic. It needs to be modeling better behavior. It is not “tabloid” to point out they have an endowment worth billions. Signed, Ivy League grad married to a Harvard grad

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

but a good chunk of it is fairly liquid.

taxpayers pay for those endowments because of the growth that is never taxed, and through the deductions on the big gifts. they owe us some better behavior.

+1. This. Private universities like Harvard receive hundreds of millions in taxpayer funded grants for research. They are sheltered from many taxes including property taxes. Harvard can afford to pay some hourly workers during a pandemic. It needs to be modeling better behavior. It is not “tabloid” to point out they have an endowment worth billions. Signed, Ivy League grad married to a Harvard grad

The research goes to research. You know that. The endowment is for the endowment. You know that. Did you bother to read anything from Bacon before he got sick? These are by hour employees not covered by a union contract. Did you read any email the school sent either of you? Obviously not. Signed a Harvard Law Grad who actually knows what is going on in the Legal Counsels's office (yes there are more than one).

[Anonymous]

Anonymous wrote:It's so tabloid to always mention the endowment in these stories, as if it's a bank account.

The dumbs like OP have zero understanding of finance but nevertheless feel the need to mindlessly post their idiotic comments because that is what dumbs do.

[Anonymous]

People mention endowments every single time a college makes any financial decision they don’t agree with. It’s some weird knee-jerk reaction.

Tuition went up? But the endowment!
Dorm isn’t upgraded? But the endowment!

It happens here all the time, which makes me worry that people don’t understand how their own investment accounts work, let alone a university’s.

The person who said endowments are mostly liquid? I guess you also think your 401k is?

[Anonymous]

The partners in my business are taking a 20% pay cut so we can pay our support staff their regular salaries. If we can do it, so can Harvard.

[Anonymous]

Anonymous wrote:People mention endowments every single time a college makes any financial decision they don’t agree with. It’s some weird knee-jerk reaction.

Tuition went up? But the endowment!
Dorm isn’t upgraded? But the endowment!

It happens here all the time, which makes me worry that people don’t understand how their own investment accounts work, let alone a university’s.

The person who said endowments are mostly liquid? I guess you also think your 401k is?

You’re saying that there’s not enough liquidity in an endowment of 40 billion dollars to pay a handful of hourly workers for a couple of months? Right.