11-17-2008, 07:45 AM
<b>Stanford must cut general funds budget in âfinancial shock waveâ</b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Â âAll of these factors contribute to the tightest financial outlook we have seen in decades,â Hennessy wrote.
Other major private universities are feeling financial pain. <b>Harvard University, in an email to students, staff and alumni, said âwe need to be prepared to absorb unprecedented endowment losses and plan for a period of greater financial constraint.â
Harvard said it will assess all of its capital spending plans, including âthe phasing and developmentâ of its massive plan to expand its campus in Bostonâs Allston neighborhood, described by the school as a multibillion-dollar build-out.</b>
eyoung@bizjournals.com / (415) 288-4969<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Â âAll of these factors contribute to the tightest financial outlook we have seen in decades,â Hennessy wrote.
Other major private universities are feeling financial pain. <b>Harvard University, in an email to students, staff and alumni, said âwe need to be prepared to absorb unprecedented endowment losses and plan for a period of greater financial constraint.â
Harvard said it will assess all of its capital spending plans, including âthe phasing and developmentâ of its massive plan to expand its campus in Bostonâs Allston neighborhood, described by the school as a multibillion-dollar build-out.</b>
eyoung@bizjournals.com / (415) 288-4969<!--QuoteEnd--><!--QuoteEEnd-->