Education: California Gold Rush

The hottest stock on the academic market these days is Stanford University, which says it wants to be "the Harvard of the West." Last year the already rich school (endowment: $159 million) got a 1-for-3 matching grant of $25 million from the Ford Foundation. Last spring it set out to raise that potential $100 million under an acronymous campaign called PACE (Plan of Action for a Challenging Era). Last week it totted up the first four months' take: $20.5 million.

Along with dollars came scholars: Stanford is raiding blue-chip faculties all over the East....

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