Word: allstoned
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...better or worse, Harvard’s actions greatly affect the surrounding community. Its employment of thousands of individuals from communities throughout Massachusetts and the university’s projects in the loci of those areas ensure a high level of codependence. The recently stalled initiative to build the Allston science complex, coupled with layoffs of Harvard employees, provides us with explicit proof that Harvard’s decisions have a significant effect on people within the school’s sphere of influence, regardless of whether those people are willing residents of that sphere. Meanwhile, Harvard occupies a peculiar...
Yale opened a new cancer hospital and research center on Thursday—a blow to Harvard's ambitions, now that it has grown increasingly likely that Allston may not host a stem cell research center after...
...early 2008, the University broke ground on the Allston Science Complex—a facility aimed at promoting interdisciplinary science, rumored to boast an eventual pricetag of $1 billion—but announced in February that it would slow construction and reconsider the pace and design of the project. In the meantime, the University has pushed forward on expansion and renovation projects at the Harvard Art Museum, Law School, and Arnold Arboretum...
Harvard entered into interest rate swap agreements—which are used to hedge against rising interest rates—in 2004, when it seemed that interest rates had reached favorable lows and that locking in those rates would help the University finance its mammoth, long-term expansion into Allston. But the agreements backfired this past year when the global financial crisis pushed interest rates to unprecedented lows, thereby decimating the value of the swaps...
Many other universities have similar interest rate swap agreements in effect, but not to the magnitude of Harvard’s arrangements. Rothenberg said that this was because Allston presented Harvard with a “unique opportunity” to aggressively expand...