Universities Turn to Consultants to Trim Budgets

The New York Times
November 15, 2009
By Tamar Lewin

When Holden Thorp, the chancellor of the University of North Carolina, was looking for ways to cut the university’s budget, he did what many executives in private industry do — hired a management consultant. 

The consultant, Bain & Company, came up with recommendations that it said could save the university more than $150 million a year. ... “Like any other large organization,” Mr. Thorp said, “we hire people, we buy stuff, we connect to the Internet, we build buildings and take care of our property, and we wanted Bain to look at how we could carry out those functions as efficiently as possible." Click here to read more.