Word: buyouts
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News that the administration is considering offering professors an early retirement incentive is worrying, especially in conjunction with the ongoing hiring freeze FAS implemented last November. The faculty buyout has the potential to harm Harvard’s educational mission if it is carried out with the hiring freeze still in place. The early retirement incentive is similar to one offered to staff two months ago and is part of a series of measures intended to pare down the faculty’s budget, which is expected to run a $220 million deficit over the next two years...
...hands. By the action, Bernanke and Paulson pushed Lewis to betray a trust to his shareholders, his customers, and his employees. Bank of America has been on many of the lists of mortally ill banks which may have to be broken up or nationalized since the Merrill buyout. This, in and of itself, has cost the firm's shareholders billions of dollars. If B of A had walked away from Merrill and its problems, the bank would almost certainly have been considered a relatively safe operation which would not require government intervention to survive. (See pictures of America's devastated...
...Like this month's other newspaper movie, State of Play, The Soloist has been updated from a few years past to what feels like this morning. An editor looks out a window, despondent, dulled with pain, as off-camera, another one of her employees is advised to take a buyout. As Lopez reports from his desk, a freshly laid-off journalist trails a security guard out of the building. Yet The Soloist still makes you want to run out and be a newspaper columnist. Crazy? Maybe a little. Certainly most industry observers would gently suggest you choose a more obtainable...
...those plans, no matter how well-intentioned they may seem, are unnecessary now. Wells Fargo (WFC) indicated that it made about $3 billion in the first quarter of the year and declared its buyout of the deeply troubled Wachovia to be a success. Wells Fargo (WFC) said that the low cost of money from the government combined with a surging demand for mortgages was all the medicine that it required...
...parent company—threatened to close the Boston newspaper if The Globe’s unions did not agree to a decrease in pay and the end of company contributions to pensions, which would total $20 million. The announcement comes as newspapers across the country have announced cutbacks, buyout programs, and closures in response to plummeting print advertising revenue. But many students said they did not think they would be affected if The Globe were shuttered. “I don’t read The Boston Globe at all,” said Tara...