The downturn in the economy of the author's state, North Carolina, so far is less severe than that of much of the rest of the nation, due to their diversified economy, financial discipline, constitutional mandate for a balanced budget, "rainy day" fund, and many years of consistent investment in higher education. In the University of…

The context in which boards are making endowment spending decisions has changed remarkably in the past year. In January 2008, Senators Max Baucus and Charles Grassley, chair and ranking minority member, respectively, of the Senate Finance Committee, cited "explosive college endowment growth" as evidence that college and university boards should…

"Spectacular error" sounds euphemistic compared to "devastating," "catastrophic," or "meltdown"--terms more commonly summoned to describe the credit crisis and ensuing global economic carnage. Whatever they are labeled, gross miscalculations on Wall Street are having a deleterious effect on college campuses across the country, with many…

The counterintuitive approach of the world's greatest value investor, Warren Buffett, may be the best hope for colleges and universities during this recession. Buffett's time-tested philosophy of seeking value and investing for the long term remains a sound approach, even if his short-term returns have declined along with those of the rest of the…

As Americans near the end of the first decade of the new millennium, higher education in the United States is caught in a classic "good news/bad news" dilemma. The good news? Broad recognition of the importance of higher education to the country's future, along with larger federal funding increases than at any time in their history. The bad news?…