Sunday, October 18, 2009

In times like these, it's good to be a Tiger

We’re pretty lucky. A few weeks ago, we all received that e-mail from President Tilghman detailing what the recession means for Princeton and describing where we stand currently. Last April, Princeton foresaw a loss in the value of the endowment of up to 30 percent. Fortunately, as Tilghman informed us in her e-mail, we actually only lost 23.7 percent.

So what does this mean? Less hiring of new professors, minimal salary increases, no new plans for construction, and 8 percent less spending from the endowment. Things could be a lot worse. If you look around campus, except for no Saturday meals at Forbes and the absence of a headlining band at fall Lawnparties, there’s no way to really tell what sort of challenge Princeton is up against.

Let’s just be glad we’re not at Harvard. (I mean that in more ways than one, but let’s stay on topic.) Harvard is saying goodbye to their hot breakfasts and one of their libraries in the main quad, among other things (see today’s article by web staff). Additionally, Stanford has postponed its overseas studies program until 2010. Cornell may no longer offer Swedish and Dutch next year. The recession may be hitting the country hard, but it's hard to notice the difference here.

5 comments:

Meaghan said...

They have also cut classes in some departments, which is noticeable and a huge pain for seniors trying to fulfill requirements or who simply wanted to take the class. This I find more annoying than anything else they've cut back on.

Anonymous said...

they really cut out saturday meals at forbes? that's the most bizarre thing i've ever heard...

'12 said...

I'm surprised there hasn't been a larger uproar about the lack of Saturday meals at Forbes. I understand that there are practical reasons (people from other res. colleges are less likely to eat at Forbes) but there should have been some fairer way to do this, like having the other dining halls take turns.

Anonymous said...

next semester there won't be saturday meals at whitman instead of at forbes. they shut down rocky/mathey or wilcox/wu because two colleges eat at both of them. it makes sense which ones they're closing but yes, it is unfair.

Anonymous said...

*can't