University | 8:15 pm | September 26, 2012 | By Gavan Gideon

Harvard endowment falls .05 percent

Harvard Yard

Harvard University’s endowment fell to $30.7 billion in the latest fiscal year after experiencing a 0.05 percent loss in investments. The slight decline of the largest endowment in higher education is a substantial reversal from fiscal year 2011, when the school reported a 21.4 percent return on investments. Equities in emerging markets were hit particularly »

University | 12:45 am | September 22, 2012 | By Gavan Gideon

Penn posts 1.6 percent return on endowment


The University of Pennsylvania became the first Ivy League institution to report the performance of its endowment in fiscal year 2012 today, posting a 1.6 percent return on investments. The slight gain, which brought the value of Penn’s endowment to $6.8 billion as of June 30, is significantly weaker than the 18.6 percent return the »

City | 2:33 pm | May 30, 2012 | By Nick Defiesta

Aldermen pass $486.4 million budget

Aldermen on the finance committee continued the Board's process of hammering out a final budget for the city's next fiscal year.

The Board of Aldermen unanimously approved New Haven’s $486.4 million budget in a 40-minute special meeting Tuesday night. The budget — the product of almost three months of public hearings and negotiations between Mayor John DeStefano Jr.’s administration and the labor-backed majority on the Board — was largely unchanged from DeStefano’s original proposal in March. »

University | 8:39 pm | April 10, 2012 | By Tapley Stephenson

Mazzuto ’70 sentenced in stock fraud case

John Mazzuto's '70 donation to Yale's baseball program was made with stock that his former company now says was illegally issued.

John Mazzuto ’70 — the former CEO of automotive chemical company Industrial Enterprises of America, Inc. and a Yale donor — was sentenced to between 1.5 and 4.5 years in prison Tuesday. The former CEO was part of a $60 million stock fraud scheme, a portion of which was used to make a $1.7 million »

University | 1:26 pm | March 15, 2012 | By Jack Linshi

Chinese economy still solid, Roach says at conference

Stephen Roach said the Chinese economy is doing fine.

Next time they’re in New Haven, certain economists might consider stopping by Stephen Roach’s “Next China” class. Roach, the former chairman of Morgan Stanley Asia, said at a conference in Shanghai last week that speculation that the Chinese economy will enter a hard landing are “vastly overblown,” according to a report from Bloomberg. China has »