Amherst College successfully remarkets $41.3 million bond offering

Submitted on Thursday, 8/4/2011, at 6:36 PM

AMHERST, Mass.—Amherst College today (Thursday, August 4, 2011) successfully remarketed $41.3 million in tax-exempt securities at a 0.2 percent rate for a 45 day period, a level Amherst officials say they are pleased with because it reflects the college’s strong financial position and substantial resources.

Trustees explain endowment losses and budget plans

Submitted by Emily G. Boutilier

By last summer, the Amherst endowment had reached an all-time high of $1.7 billion, representing a 5 percent increase in value during the fiscal year that ended June 30, 2008. “We actually felt quite good,” says Bill Ford ’83, a member of the Amherst Board of Trustees and chair of its investment committee. “And then, the world turned against us.”

Ford spoke on Tuesday, Feb. 17, at an open forum for students, faculty and staff in a crowded Johnson Chapel. He, along with two other trustees—board chairman Jide Zeitlin ’85 and budget and finance committee chairman Steven Gluckstern ’72—discussed and answered questions about the college’s endowment, investment strategy, overall budget and pending budget cuts. They tried to explain what has happened over the past several months and how the college will move forward.

Amherst & the Economy

How to Beat the Market

“I know that internships and jobs are drying up in some of the more traditional fields,” acknowledged Rhamey Elhosseiny ’10 at the start of this year’s Business Leadership Seminar. He was speaking in Stirn Auditorium, where 60 students—eventual job-seekers all—were gathered for the three-day seminar.

Elhosseiny is executive director of the Pre-Business Group, the student organization that runs the seminar. Opening line aside, his attitude about the economy is far from gloom-and-doom. Just before presenter Philip Gorth ’04 gave a speech on “demystifying the investment bank,” Elhosseiny offered a pep talk. “We’re young,” he said, smiling at the audience, “we’re geographically mobile—and we’re cheap!” He rattled off a list of businesses that got their start during a recession: General Electric, FedEx, CNN, Hewlett-Packard, Trader Joe’s.

President’s Statement on Amherst and the Current Economy

October 28, 2008

To the Campus Community:

Mindful of how economic conditions have changed for us all, the Amherst trustees spent much of their meeting this past weekend discussing the potential effects of the current economic downturn on the College and how we should respond. Preserving the outstanding quality of the education we provide and the well-being of our campus community of students, faculty and staff are our top priorities.