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...period were underway when she took office in 2008, as her staff began investigating the possibilities for J-Term programming along the lines of what the Conley committee had originally envisioned. Faculty of Arts and Sciences Dean Michael D. Smith says that he and Hammonds approached the Board of Overseers and some alumni early last fall with their ideas for January and were encouraged to further investigate the details involved with implementation, especially the financial aspect of J-Term.But by November 2008—when it became evident that the economic crisis would cripple Harvard’s endowment, which...
...construction through debt financing, without the donor support University planners usually prefer.“If we can’t move ahead in a timely fashion, I think we will lose many of our leading scientists to other areas,” Hyman said in 2007 to the board of the Boston Redevelopment Authority, seeking the city’s approval for proceeding with construction of the Science Complex. “Keeping this dream team together is absolutely critical.”In keeping with Harvard’s traditional mixture of grandeur and secrecy, the costs...
...exact movements of securities prices.Merton was a co-recipient of the Nobel prize in economics in 1997 for his work on the Black-Scholes model, ubiquitously used by traders to price options and determine expected volatility.But he has also gained notoriety in financial circles for his membership on the board of directors of Long-Term Capital Management, whose collapse threatened to imperil the global economy in 1998, prompting a government-orchestrated intervention.“If you look at the options model, it’s all about understanding the risk term,” he says...
Harvard College’s Administrative Board, often seen as a monolithic, stolid body, may see revisions to its policies and proceedings in the near future.Procedures regarding representation in Ad Board cases, the size of hearings, and the threshold for punishment, are often decried by students as either opaque or overly harsh. But Dean of the College Evelynn M. Hammonds indicated that policy in these areas will be reworked in her presentation at this year’s final meeting of the Faculty of Arts and Sciences. Other issues, such as the question of whether students will play a role...
...have met with Dean Michael D. Smith of FAS, Dean Allan M. Brandt of GSAS, Dean Evelynn M. Hammonds of Harvard College. None of them bargained for this crisis when they came on board. Neither did President Drew G. Faust. “Harvard is not invulnerable to the seismic financial shocks in the larger world,” she told us in a letter this fall. “Our own economic landscape has been significantly altered.” We would all need to navigate between these seemingly incompatible goals: the need “to advance...