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October 28, 1981 - Image 7

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Text
Publication:
The Michigan Daily, 1981-10-28

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The Michigan Daily-Wednesday, October 28, 1981-Page 7 ,

$1.2 million
endowment
establishes
faculty
chair
(Continued from Page 1)
nationwide, is to support faculty in
higher education
THE FINAL allocation of the funds
at the University is up to President
Harold Shapiro.
"He is going to have to study a num-
ber of larger units in the University,
probably all of whom are hungry for
it," said University spokesman Roger
Sutton. "The decision is still at the
executive level."
"Private support has long meant so
much to us in maintaining that margin
of vitality which makes Michigan a
distinguished institution,".Shapiro said
Monday.
The funds given to the liberal arts
colleges are to be used to establish new
professorships at each of the schools in -
an effort to open opportunities for new
faculty.
THE SERIES of endowments is con-
sidered to be one of the largest awards
to higher education by a private philan-
thropic organization.
John Corbally, president of the foun-
dation, aid the grant will call attention
to the problems faced by higher
education. Among the major problems, 1
he said, are erosion of salaries through
inflation, the competition presented by
salaries offered for jobs in consulting
and business and the tenure barrier
faced by younger faculty members.
THE NAMESAKE of the foundation
0 was a high school drop-out born in a
Pennsylvania mining town. In his --
lifetime, John MacArthur became a
self-made billionaire through real estate
and insurance practices. He died three
years ago at the age of 80.
The foundation created from his '
estate may control as much as $2
billion, which would make it second on -'
to the Ford Foundation in its assets. J
Among the universities receiving the J - .
$1.2 million each are the University of -
California at Berkeley; California In-
stitute 'of Technology; University of
Chicago; Harvard University; Univer-
sity of Illinois; Massachusetts Institute d
of Technology; Northwestern Univer-
sity; and University of Wisconsin. x
Liberal arts colleges receiving
$300,000 each include Bennington
College, Vermont; Bucknell Univer- _
sity, Pennsylvania; Claremont Univer-
sity Center, California; Colby College, h1
Thrsay Oc.2 Noon-Mint
Maine; Colgate University, New York;
ote College, CoTenness ; adUonh
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