October 27, 2008

Cappy Speaks: Financial Crisis Costs Us $80 Million

In an all-campus email sent moments ago, Cappy described Vassar's financial losses in the current economic crisis, and announced plans for cutting corners in the coming years.

Cappy reports that between June and September, Vassar's endowment has fallen $80 million. Damn.

The college will also be taking steps to maintain our budget. These include "not filling any vacant positions" unless necessary and "looking at all of our operating expenses to see where else we can make savings."

These decisions were made with the Board of Trustees last week.

Update: According to The Paper Trail, other schools facing major financial losses include Northwestern, University of Wisconsin, and the University of Maryland.

6 comments:

Anonymous said...

just invest all our money in gold and we'll be okay

Anonymous said...

8:57pm Don't think so Gold has declined 27% since Oct 10th. Better spend some more time in front of that WSJ.

Anonymous said...

solution: raise tuition!!!!

Anonymous said...

11:27PM: I totally agree. Tuition should be at least $70,000 and we need to end need-blind admission. If we are ever going to be considered an accredited university, our endowment needs to exceed $10 billion.

Anonymous said...

11:44, i hope to god that was sarcasm.

Anonymous said...

1:01, I'm sure it was. Die capitalism die!