Friday, August 5, 2011

Two-Headed Beast, UC Berkeley Foundation, UC Berkeley Endowment Management Co.

Is this the heralding in of privatization?:
Endowments at Cal, Stanford on the rise-Even as budgets get slashed, donor support increases

"Berkeley started its own foundation, separate from the UC Regents, about 30 years ago to give it latitude to make more aggressive investments, and to chase greater returns. The reason is as much psychological as financial, since Berkeley’s endowment had done well under all-volunteer advisers. Saviano said he hasn’t sat down with the UC Regents endowment people in over year, a clear sign of how separate these two pools of money are.

“It is our belief that the donors in all of these cases are making gifts to individual campuses, and they feel a higher level of confidence knowing that it is the campus controlling the investment,” said David Blinder, Cal’s associate vice chancellor. “Right now, in our conversations with donors, we recommend in the strongest way that endowment gifts and checks and stocks go to the Berkeley Foundation. It gives us that direct link.”

Are individual regents allowed to talk to individual "volunteer advisers"? -- that is an immediate question that comes to mind.

Or, is it another way of democratizing the UC Regents? -- but, then, who or what will democratize the "volunteer advisers"...

(Are the volunteer advisers the same group that includes many bio tech deans and Maureen Orth? Orth is a Cal alum and the widow of NBC's Tim Russert, she has written for Vanity Fair etc. and has served on the board in previous years)-- look it up here and here .

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