Some schools may try to protect themselves from economic shortfalls by laying off faculty and staff and closing majors, degrees and departments. These actions may seem necessary to university leaders, but they only impoverish the higher education ecosystem. Absent the political will to invest in students and institutions, our system will become more unequal and less resilient. Students will have fewer options. The communities that depend on their local colleges as employers and creators of tomorrow’s workers and citizens will struggle. The paradox of American higher education is the parallel stories of astounding wealth for a few institutions and ever-increasing financial precarity for a growing number of schools. Might applying a structural vulnerability framework to universities persuade anyone to advocate for public investments in students and nonprofit schools? What sort of lateral thinking helps you make sense of the current state and future of higher education? What are you reading?
Some schools may try to protect themselves from economic shortfalls by laying off faculty and staff and closing majors, degrees and departments. These actions may seem necessary to university leaders, but they only impoverish the higher education ecosystem. Absent the political will to invest in students and institutions, our system will become more unequal and less resilient. Students will have fewer options. The communities that depend on their local colleges as employers and creators of tomorrow’s workers and citizens will struggle. The paradox of American higher education is the parallel stories of astounding wealth for a few institutions and ever-increasing financial precarity for a growing number of schools. Might applying a structural vulnerability framework to universities persuade anyone to advocate for public investments in students and nonprofit schools? What sort of lateral thinking helps you make sense of the current state and future of higher education? What are you reading?
BY English Language
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Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
The STAR Market, as is implied by the name, is heavily geared toward smaller innovative tech companies, in particular those engaged in strategically important fields, such as biopharmaceuticals, 5G technology, semiconductors, and new energy. The STAR Market currently has 340 listed securities. The STAR Market is seen as important for China’s high-tech and emerging industries, providing a space for smaller companies to raise capital in China. This is especially significant for technology companies that may be viewed with suspicion on overseas stock exchanges.
