The counterintuitive approach of the world's greatest value investor, Warren Buffett, may be the best hope for colleges and universities during this recession. Buffett's time-tested philosophy of seeking value and investing for the long term remains a sound approach, even if his short-term returns have declined along with those of the rest of the…

Examines how this university extension project for urban studies and design assists small and large towns in Arkansas to cope with development problems. The project uses faculty, professionals, and student interns to assess situations and provides professional consulting and referral services and public informational programs. (JB)

Budget reforms adopted at the University of Montana and by the Arkansas state higher education system illustrate a variety of strategies for long-range planning. These efforts include reform of faculty collective bargaining, funding based on productivity enhancement, and a multiyear fiscal plan encompassing both operating and capital budgets. (MSE)