To the Editor:

Re: “Budget Cut Bingo,” Halloween Special Section, Oct. 31

I found the Budget Cut Bingo board to be highly offensive. Sure, plenty of economic downfall references and jokes are thrown around here and there, but for anyone to say “Bear Necessities will accept FOOD STAMPS” is downright inappropriate. Do you know just how extreme emotions can run with the little tickets?

After a 26 percent decline in its endowment last fiscal year, Cornell has a lot of lost ground to recover. In the first two months of the current fiscal year, the University has been making substantial strides to even out its balance sheet, announcing a 6.2 percent rise in its overall investment performance.

Since reporting a 27 percent loss during the second half of 2008, the endowment rose 2 percent from January through June.

The endowment makes up $4 billion in the University’s $5.1 billion total investment at the end of the last fiscal year, which ended June 30. While the improvement in investment performance has brought more assets to the University, Cornell has taken substantial funds from the endowment in order to pay for operational costs.

The University announced Wednesday that Executive Vice President Stephen Golding has resigned from his role as the overseer of finance and administration. Come July 31, he will move to a new role as senior consultant to President David Skorton, where he will advise the president on Cornell's role in the Upstate New York economy. Golding has served as the executive vice president since April of 2005.

Golding told the University: "It is even more essential today than ever before that we develop effective strategies to leverage the positive role they can play in promoting the New York state economy in the coming decade."

Today marks the deadline to apply for the Staff Retirement Incentive program. Engineered and implemented earlier this month, the program was a “one-time-only” opportunity for staff to apply to retire early, in an effort to help alleviate excess financial strain on the University.

We saw the incentive plan as an appropriate gesture. Predicting massive layoffs, the University gave staff the chance to reconsider retiring amidst the financial turmoil in exchange for an “enhanced contribution” to the employee’s retirement fund in addition to a lump-sum payment.

The Sun’s March 23 editorial entitled “On the Outside Looking In” is, frankly, a bit perplexing when I think about the openness that distinguishes President Skorton’s administration. When it comes to the well-being of our university, there can never be too much communication, especially in these times of financial challenge. A critical ingredient in that process is transparency of decision making, which has been a top priority for President Skorton from the very start of his administration. And, I am proud to say, that the administration and the Board of Trustees have redoubled efforts to be more transparent since the beginning of the financial crisis last fall.

To the Editor:

Re: “Sold Short: American Capitalism at Its Finest,” Letters, March 25

We live today in a tense economic climate. In the past year, organizations previously thought of as the titans of industry have been brought to their knees, while pension plans and 401ks throughout the nation have been wiped out. All while short sellers managed to turn a profit.

With purse-strings drawing ever tighter around the country, states are scrambling for ways to cut costs and increase revenues. Strategies run from upping income taxes to slashing education budgets, but citizens are understandably wary of such measures. In navigating the risky waters ahead, lawmakers should look instead to one of the silliest and most unjustified policies of our time: the prohibition of marijuana.

To the Editor:

Re: “Sold Short: American Capitalism at Its Finest,” Opinion, March 25

This author’s very interesting column has one problem — or shortcoming. He addresses the issue of short selling as a fundamentally negative operation that is “invested in market failure.” This is a simplistic view of short selling that flies well with the public’s general feeling of indignation towards Wall Street.

“It will only cost $500, all inclusive. Flight, room, food …”

There was a brief pause.

“Oh, plus drinks, yea. So like $1000.”

The source of the conversation was an innocent looking petite in a baggy Cornell sweatshirt, clutching a calculus textbook unable to fit in her jam-packed Jansport backpack.

I immediately knew she was planning her spring break. Spring break: the consummate week of sun, sand and “romance.” The week students from across the country “dance” intimately with strangers in unrestricted, inebriated revelry on national television. The one-week revolt against the rigor of the American education system — book learning swept rudely from the altar, replaced by carnal knowledge.