From American Libraries Direct
Economic uncertainty spreads to library endowments
The stock market losses that have recently hit global markets might be taking some carefully stewarded library endowments along for the ride. Even as the market began its dramatic mid-September seesaw of alarming drops and partial recoveries, two public library executives lost their jobs at one of the few libraries ever endowed personally by Andrew Carnegie. Panicked stock-market sell-offs have paralyzed credit lines and bond markets at the state and municipal levels and only made a bad situation worse for libraries from Oregon to New Jersey....American Libraries Online, Oct. 14
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