Local colleges scramble to make up for a shortage of donated funds - Wes Woods II, Daily Bulletin

Endowments at local colleges have taken a hit as each scrambles for more money during a down economy. James J. Floyd, associate vice president of investments at Claremont McKenna College, said endowments at each of the Claremont Colleges were in decline on June 30, when the endowment figure is determined. "Everybody was down. The markets have rebounded a little bit since then," Floyd said.