Chancellor Michael Martin told University faculty, staff and students in a broadcast e-mail Friday the LSU foundation endowment has lost value. Martin said the endowment has lost value because of the turbulence in the global financial markets. And many of the University’s endowed funds including scholarships, fellowships and faculty  professorships and chairs will not generate spending allocation next year if the current problem persists, he said in the e-mail.In response to the economic problems affecting the funds, Martin said the LSU Foundation has engaged the Board of Regents to find solutions.”I am confident that the LSU Foundation can weather this storm while continuing to advance our most important objectives,” Martin said in the broadcast e-mail.
——Contact Joy Lukachick at [email protected]