I think this is a pretty well-known L. Summs factoid but for the uninformed: while overseeing things at Harvard, Big Lar would start every morning with a bacon, egg and cheese followed by a banana split, a breakfast of champions mimicked by many of the tri-state area's most successful hedge fund managers and a tradition Larry has carried on at the White House. Though the school's had some money troubles lately (the matter of losing an asston of it), no real sacrifices have had to be made. Sure, positions have been eliminated, employees have been forced into early retirement and expansion projects have been shelved but I'm talkin' real live sacrifices, the sort that would give Summers a moment's pause re: heading back to Cambridge, in the event he found himself looking for a new gig. Now, there's this:
Billions of lost endowment dollars later, though, [President Drew] Faust faces a much different reality [than when she started]. Much of Faust's time now is spent figuring out how Harvard can weather the downturn, through layoffs, early retirement packages, cuts in services, even changes to breakfast menus for undergraduates.
"We can't have chocolate and vanilla and strawberry. We have to decide which one," she said.