UC Berkeley will announce a $113 million gift today, which the school will use to create 100 new endowed chairs—hopefully slowing the emigration of professors to the juicier paychecks offered by private universities. The gift is unusual in that it will go straight to ordinary activities rather than building a new building or program.
Berkeley's Chancellor says it's been tough holding on to good faculty in the face of funding cuts and better-endowed competitors. "It's an unrelenting battle," he says. The gift, from the William and Flora Hewitt Foundation, will provide permanent sources of funding for big-name professors and their research.