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Comment Re: Just let me do brain surgery! (Score 4, Insightful) 372

Of course brain surgeons don't "just do" brain surgery .... in any surgery, there's a ton of pre-operative work, investigation, preparation, paperwork, practice, etc. No one just dives in and cuts open your head.... and just as no one administrator hovers over the scalpel's every move, no manager hovers over every keystroke, either.

Comment Re:$18.7 billion?! (Score 4, Insightful) 208

Endowments return significant operating funds in up years, and sales from the endowment assets smooth out what would otherwise be significant operating losses in the down years; they decouple university operating finances from the business cycle and local politics. They _stabilize_ finances. They can also used as collateral allow for much larger debt funded initiatives to be floated. I dearly wish my university employer had a large endowment....

Put another way: you don't eat your seed corn. The endowment is the seed corn. Selling off an endowment for short term, short sighted "it seems wrong to have so much money!" would be criminal

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It's a naive, domestic operating system without any breeding, but I think you'll be amused by its presumption.

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