Saturday, June 04, 2005

Hey, It's Their Money, But...

Looks like the spoils continue to go to those who need them the least. Why is it that places like Harvard continue to attract cash donations of this calibre over other institutions that serve a broader propulation (e.g. San Francisco State University, Portland State...the list is about 2000 schools long, this from close to 4000 schools classified by the Carnegie Foundation for the Advancement of Teaching)?

Harvard has an endowment where, on just the interest, they could fully support the first year class and not charge them a dime . They need 115 million like you need 20 bucks.
Oracle Corp. founder Larry Ellison is on the verge of giving Harvard University as much as $115 million, one of the biggest gifts in the Ivy League college's history, according to a published report and people familiar with the negotiations.

Ellison told The Chronicle last month that he was planning to make a "big announcement with Harvard" to create a database and journal to track improvements in world health.
End Slice:
Oh, I get it...Let's see. Ellison is in the Database business in a big, he wants to support something that furthers his business...and sell it to all the types who might use his products once they graduate. Sounds like a solid business move. Maybe I should pick up some shares in ORCL sooner rather than later.

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