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Stanford faces cuts due to endowment plunge

Original post made on May 11, 2009

Facing an unprecedented 30 percent plunge in its endowment value, Stanford will reduce the amount it spends from the fund in the next two years.

Read the full story here Web Link posted Monday, May 11, 2009, 9:35 AM

Comments (7)

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Posted by Stuart Berman
a resident of Old Palo Alto
on May 11, 2009 at 11:43 am

As part of the cost cutting Stanford Athletics was on the verge of cutting its Varsity Fencing program until a group of interested athletes and parents stepped up to undertake a fundraising program. Stanford not only has one of the top fencing teams in the country, but it's coaches also run the Cardinal Fencing Club. Cardinal Fencing Club serves the Palo Alto community with recreational and competitive fencing programs for children and adults in the community. You don't have to have a Stanford affiliation to participate.

For more information check out:
www.cardinalfencingclub.com
www.savestanfordfencing.com



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Posted by jc
a resident of College Terrace
on May 11, 2009 at 1:27 pm

Walking around the Stanford campus I am continually amazed at the number of new buildings that have gone up or are being built. The campus is lovely, and it is certainly easier to say yes than no to money for visible bricks and mortar and programs that donors (and those Stanford officials who make the decisions) can swell with pride about. But there have always been booms and busts. The painful cost of fiscal imprudence and risk assessment is paid for by all those involved in teaching and research, faculty, students, and support staff.


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Posted by withheld
a resident of Old Palo Alto
on May 11, 2009 at 5:02 pm

In light of the news that Stanford is putting their building program on "hold", why not do our community a favor and let the Charter Auxiliary that supports Lucile Packard Children's Hospital stay in the location on Oak Road on campus? It serves hundreds of people in our area. In the current downturn in our economy the need is even greater. Also, the need for Good Will toward Stanford is at an all time high. All it would take is the stroke of a pen to allow this facility to remain ON CAMPUS, where it belongs. Their final sale at the present site is scheduled this month!


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Posted by withheld
a resident of Crescent Park
on May 11, 2009 at 8:07 pm

In light of the news that Stanford is putting their build program on "hold", why not do our greater community a huge favor and extend the lease granted to the auxiliary that works to support Lucile Packard Children's Hospital? It serves hundreds of people in our area. In the current downturn in our economy the need is even greater. It also seems prudent for Stanford, who could use some good will from the community at larg, to loosen it's hold on that property that will be vacant because of the "hold". All it would take is an attitude adjustment and a stroke of a pen to allow this facility to remain on campus--where it belongs. As it stands, the final sale is this month.


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Posted by reader
a resident of Menlo Park
on May 12, 2009 at 12:52 pm

I second "withheld's" motion to keep the auxiliary where it is now. It is hard to believe that Stanford really needs EVEN THAT area for something or other, in a time when it has to cut like mad. (In fact, since they made the decision to ask the auxiliary to leave, things have changed and are regarded as being much, much worse than they were; maybe the auxiliary could be allowed to stay after all.)

People on campus have not realized that a bigger cut than 15% is now what we face. It's hard to hear, every single day, that the economy is recovering... and put that "truth" alongside cuts at Stanford that exceed 15%. (Exceed by how much? One person at the April 30th talk believes the suggested cut is 37.5%.)


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Posted by Walter_E_Wallis
a resident of Midtown
on May 12, 2009 at 8:41 pm

Walter_E_Wallis is a registered user.

Ivy, welcome to the real world.


 +   Like this comment
Posted by reader
a resident of Menlo Park
on May 13, 2009 at 12:11 pm

Ivy? No, Mr. Wallis. That's the problem. Had they stayed Ivy, they would not have had these problems.


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