Endowment Controversy
During his tenure as President, $85 million, nearly one fifth of the Boston University endowment, was invested in a biotechnology company named Seragen. Investments continued, even after a rebuke from state regulators because of the risk involved. The bulk of the investment was lost when the Seragen stock collapsed.
Read more about this topic: John Silber
Famous quotes containing the words endowment and/or controversy:
“I wish more and more that health were studied half as much as disease is. Why, with all the endowment of research against cancer is no study made of those who are free from cancer? Why not inquire what foods they eat, what habits of body and mind they cultivate? And why never study animals in health and natural surroundings? why always sickened and in an environment of strangeness and artificiality?”
—Sarah N. Cleghorn (1976–1959)
“And therefore, as when there is a controversy in an account, the parties must by their own accord, set up for right Reason, the Reason of some Arbitrator, or Judge, to whose sentence, they will both stand, or their controversy must either come to blows, or be undecided, for want of a right Reason constituted by Nature; so is it also in all debates of what kind soever.”
—Thomas Hobbes (1579–1688)