McMurray College investment fund loses value with stock market meltdown

A variety of factors -- many controllable, some not -- potentially may affect McMurry University's economic future, said Dr. John Russell, the school's president. No matter what, the college(McMurray Jr.College) plans to tighten its belt in coming months and into 2010. The school's endowment, heavily invested in the stock market, supports a number of student scholarships and support operations, he said. But when the market goes south, as it has in recent months, "we have to reconsider our spending," Russell said.In the 12 months ending Sept. 30, 2008, McMurry's endowment lost nearly 14 percent of its value -- amounting to $9 million. During the month of October, its endowment dipped another $5.5 million._____(Abilene newspaper/Brian Bethel copy)Story
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McMurray College is located in Abilene and the recent downturn in stock market has them looking at investment fund like Texas Tech. Tech just signed a $500,000 a year "sweetheart deal" with a New England portfolio management team. Manage your own investments fellas!

"It Ain't Over Till It's Over"- Yogi Berra
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