Tulsa University Making Cuts After Endowment Earnings Drop - Kim Jackson, KTUL

The struggling stock market is taking a toll on university endowments. And, the University of Tulsa is the latest school trying to make up for the lost money. "Like all other investments in the market, our endowment has fallen, the value of our endowment has fallen," says Joan Nesbit, Vice President for Institutional Advancement. "We have asked our staff, not our faculty, to take unpaid Friday afternoons in June and July," Nesbit says. "And we're being very cautious and careful about our hiring."