Saturday, November 8, 2008

Universities face the financial meltdown.


From today's NY Times (full article):

With endowment values shrinking, variable-rate debt costs rising and states cutting their financing, colleges face challenges on multiple fronts, said Molly Corbett Broad, president of the American Council on Education.
So at LRRD we're facing not only an overall economic slowdown, but budget cuts at the institutions that buy our products. This is on top of years of declining funding in science education.

We're lucky that our consulting is going well, and is relatively unaffected by the economy--we stay away from working for developers (who are really suffering now), and rivers are going to keep flooding and tearing up infrastrucure no matter what Wall Street does.

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