Facing furloughs and decimation of academic budgets, Berkeley faculty are dismayed to learn of university loans to fill multimillion-dollar deficits in athletics department -- on top of annual subsidies.
The notion that colleges need to act more like businesses appeals to many people outside higher education and, especially in difficult financial times, to some trustees and state leaders. Efficiency, productivity, innovation -- all concepts that colleges and universities are all too often accused of lacking.
Preliminary study suggests that after steep drop in last half of 2008, college investments edged upward in first half of 2009. Overall decline in rate of return -- 19 percent -- would be biggest in 35 years.