University of Miami hopes to rebound from $240M loss - Brian Bandell, South Florida Business Journal

The University of Miami is licking its wounds from a rough 2012 fiscal year. But its leaders believe that the job cuts and restructuring, while painful, will solve its budget problems this year. The private, nonprofit university suffered a $240.5 million loss for the fiscal year ended May 31, compared to a profit of $215.5 million in the previous year, according to financial statements released to its bondholders. Most of that loss came from investments and pension provisions. Still, its operating loss was $28 million, compared to an operating profit of $14 million the prior year. http://www.bizjournals.com/southflorida/print-edition/2012/10/12/university-of-miami-hopes-to-rebound.html