Stanford halts $1.3 billion in construction projects as endowment shrinks

January 24, 2009 |

A planned mechanical engineering building and the renovation of the Hoover Institution are among the $1.3 billion worth of construction projects suspended by Stanford University as the school’s endowment plunges, writes Lisa M. Krieger of the San Jose Mercury News.

Krieger writes: "After years of robust growth, Stanford's endowment, worth $17.2 billion in 2008, has dropped 20 to 30 percent in value."

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