In case anyone is interested, following is the passage deleted
and replaced with an ellipsis by the Chronicle of Higher
Education from my letter "Library Budgets and Subscription
Rates" on p. B13 of the Sept 5 issue:

   Universities like UC demand about fifty percent of
   direct costs for overhead on government research
   grants. By this measure, PJM should be paying its
   host $125k in overhead and pricing  its journal
   accordingly.

I would be interested in any opinions why this nugget
 was cut. I thought it was right on the money.

Albert Henderson, Editor, PUBLISHING RESEARCH QUARTERLY
70244.1532@compuserve.com