When George Reid left his position as executive director of the Illinois State Board of Higher Education, the announcement said he was leaving for personal reasons. But a state audit report released Friday revealed that Reid left amid concerns that he was using a state-financed rental car for his own personal needs, and that this pattern cost the state $6,500, The Chicago Sun-Times reported. The state report also revealed that when Reid was hired, the board knew that in a previous position at Kentucky State University, Reid had been found to be using university funds for personal items, such as a trailer hitch for a boat and a cat scratching post. The newspaper reached someone at Reid's home, but the phone went dead while the person was taking a message for Reid.
The University of Pennsylvania board on Friday rejected a proposal that it sell endowment holdings in tobacco companies, as faculty and student groups have urged. A statement from David L. Cohen, Penn's board chair, noted that the university has established criteria for divestment, and Cohen said that tobacco did not meet a key criterion: being morally evil. "After thorough deliberation, the board has determined that the tobacco proposal does not meet the criterion of establishing that there exists a moral evil," the statement said. "The linchpin of any divestment decision at Penn rests on the interpretation of moral evil, which we would view as an activity such as genocide or apartheid. We fully appreciate and understand the concerns that were raised by those who advocate divestment, and we recognize that reasonable people may disagree on this issue. Nonetheless, it is the carefully considered judgment of the board that the manufacture and sale of tobacco products – which is widely accepted as legal, although significantly regulated, in this country – does not qualify as a moral evil." Cohen did say that the university would not seek to add tobacco holdings and that it would use its influence in companies in which it invests to promote responsible policies.
Chris Feudtner, a professor of medical ethics who has helped advocate for divestment, had this reaction via email: "Open and vigorous debate can lead to positive change. Today the trustees of the university took action to prospectively divest from tobacco holding, to use what holdings it retains to advocate for the cessation of tobacco marketing to minors and the curtailment of marketing in the developing world, and to avow the university's commitment to improving the health of individuals and the public by diminishing the harm caused by tobacco. While these steps do not constitute total divestment, they represent a victory for better aligning our institutional values and actions."
Education Department proposes new federal regulations that would require universities to report incidents of dating and domestic violence as well as sexual assault, and let accusers and the accused have advisers during disciplinary hearings.
The CEO and two other senior officials of the Harvard Management Co., Harvard University's investment arm, are leaving their jobs or plan to do so soon, following years of disappointing investment returns, Bloomberg reported. For the five years ending June 30, 2013, Harvard saw average returns of 1.7 percent, compared to 6.8 percent at Columbia University and 5.4 percent at the University of Pennsylvania.
The University of Southern California and the Scripps Research Institute are in talks about an affiliation or even an acquisition of the institute by the university, The Los Angeles Timesreported. Scripps is an acclaimed free-standing research institute with campuses in California and Florida. Officials cautioned that there is no imminent agreement, just a continuing discussion.