Proposed Cut of Stanford U. Press’s Subsidy Sparks Outrage

Stanford (CA) has the world’s third-largest university endowment, valued in 2018 at $26.5 billion. Yet it is crying poverty to explain why it can no longer provide yearly $1.7-million subsidies to its acclaimed press. The announced cut, which became public in a Faculty Senate meeting on Thursday, has confounded and outraged faculty members and other press supporters, and is seen by many as a backhanded way of closing the scholarly publisher.