28 January 2009

Economic impact on college endowments: 2 articles

College endowments feel the sting - The Boston Globe

Fortunes Falling - InsideHigherEd.com

From a staff meeting the other day, we all spoke of how we all know at least one person who's been laid off, and that people are losing jobs every day. My husband (and it will be rare I mention him here) is working damn hard to make sure that he is seen as a valuable employee to his company. At another meeting earlier this year, an executive level member came to speak to us, and there was an unusually strong push for the importance of mid-year reviews and making not just our individual selves seen as valuable to the university, but our entire department seen as valuable.

I was actually pretty unsettled after that presentation... Whether it's uncertain enrollment rates for the fall, or shrinking budgets for FY10, I've gotta say I'm really nervous about these uncharted waters for me as a professional, and the implications for higher education in the next few years.

Museum backers seek halt to selloff - The Boston Globe

Museum backers seek halt to selloff - The Boston Globe

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There is something profoundly sad about this. I know times are tough, but art is not expendable. I really don't care if the gallery space is being turned into art classrooms... what good is studying art if you can't even experience it where you study? From the SNL Save Broadway skit to the very real closure of the North Shore Music Theatre here in MA, this economy is literally killing off the arts.

EDIT: 10:20pm.
This reader comment on a related article on the Boston Globe site has me seething... art is not expendable damn it!

"It is an extremely reasonable decision. I applaud the Brandeis executives and board for this unpopular but wise decision. The art museum is not at all central to the mission of the university. It is a chotchke - a toy box of interesting playthings - a collection of dust-gathering luxuries. The school should be given the right to dispose of these assets unless there were condition imposed on the 'gift' and that's the critical word: gift. (How many of you, dear reader, disposed of your recent holiday and birthday presents with returns, exchanges, e-bay posts, or yardsales?) Outside of the Waltham campus community, who even knows that this collection exists? There are numerous colleges and universities with obscure campus museums filled with oftentimes extremely valuable objet d'arts donated or bequeathed by alumnae/alumni. The price of collectible art has skyrocketed to dollar amount that were scarcely imaginable a generation ago. Can you imagine what it costs to insure these pieces? Campuses can't provide the type of security needed to safe-guard multi-million dollar art from professional thieves. These types of assets have always been a store of value for the wealthy, something that could be liquidated or exchanged in times of need. Is it regretable? Of course. But compared to all the other assets Brandeis could sell for a good return without harming its core interest, Brandeis is wise to liquidate all or part of this collection. It will use the funds to pay current obligations, re-fill the rainy day emergency fund, and support its key academic mission - which includes scholarships for the students whose parents have also been financially devastated in this economic climate. Perhaps some of the wealthy donors will buy the pieces back or offer to fund the museum. Egos shouldn't be allowed to get in the way of sustaining the university.

27 January 2009

The Third Chapter: Passion, Risk, and Adventure in the 25 Years After 50

Went to the Brattle St. Theatre tonight with a friend to hear a lecture by the author, Sarah Lawrence-Lightfoot. While her topic was on the developmental theory and experience of the older generation, I thought it provided a fascinating bookend to much of what I had learned last semester in my Student Development Theory course.

She raised an interesting point that so much developmental theory focuses on human growth to mid-life, as this is perhaps the Bodhi tree enlightenment of human development, but through comprehensive interviews conducted with 40 individuals in their 50's-70's, she argues that there is a highly invigorating and crisis-driven developmental stage to be found later in life (the "Third Chapter"). Using Erikson's stages and the concept of a struggle of moving from one stage into the next, Lawrence-Lightfoot states that it's perfectly natural to recognize the "death" of the younger stage, mourn its passing, and look to being reborn, in a sense, in the latest stages of our life.

She spoke of an interview she gave over the phone, and could tell her interviewer was young, so she asked her how old she was. The interviewer replied, "27." The author was amused and said that she was surprised her interviewer could still be so interested, to which she replied that her book gives a sense of optimism and freedom- that 50 and beyond is not an age of descent, rather one of curiosity-driven ascension.

As someone in their late twenties, this was actually a very uplifting lecture. There have moments in the last year where I've been fraught with unrelenting thoughts of my own mortality, but thinking of "being old" in a different context as Lawrence-Lightfoot describes is empowering.

The moderator asked if the author had noticed any patterns regarding race, gender, etc., and she said that men seemed to be looking for stability, a return to normalcy and calm, whereas most women described some interest in getting out in the world- taking flight, specifically. She described how one man said it was as if he was canoing back to shore, he passes his wife in a rowboat out to the middle of the lake. It was an interesting and illuminating metaphor.

At the conclusion of her lecture, she spoke of how technology is coming into play, and described how her son taught his grandmother how to use email. Not just how to use it, but to embrace and not fear the technology surrounding it. I wanted to raise the question if she thought this millennial generation, so saturated by technology, will actually continue to embrace and utilize technology in our Third Chapter, or if we might see some kind of backlash Luddite response - if our generation will unplug itself in our golden years.

All in all, a very thought-provoking lecture. I think I might actually pick up a copy of her latest book at the library if I can.