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Fidelity Investments, the world's largest mutual fund manager, will eliminate about 1,700 jobs in the first three months of 2009, adding to dismissals that started this week as it confronts an eroding asset base.
Earnings disappointments and slowing revenue at companies like Intel have no doubt played the biggest roles in eroding asset values.
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But Mr Ambachtsheer says board members also have a fiduciary duty to consider how fees are eroding assets.
Inflation is also playing a role, eroding assets and the value of foundation giving; assets have not grown since 2000, after adjustment for inflation.
He said now is the wrong time to be taking money out of the banking system because banks need it to guard against eroding assets like residential and commercial mortgages.
The economy is clearly weaker than expected, and housing prices are falling throughout the land, eroding bank asset values.
The use of savings as well as sale of assets by women and families for payment of maternal health services could erode the asset base of families.
However antibiotic overuse in hospitals, the community and agriculture has promoted rapid development of bacterial resistance, eroding the health asset antimicrobials constitute.
Companies face large pension bills now because three years of declining stock prices have greatly eroded the assets in their pension funds.
Oh, and just to go back for a moment to my point about debt not being all the same: yes, inflation erodes the assets of the Janets at the same time, and by the same amount, as it erodes the debt of the Sams.
In addition, we will link farmers to markets where they can earn higher prices and reduce the informal cycle of debt that erodes their assets.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com