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...about two or three months ago, then of course the amount of benefits is going to have to slow down as well,” said Mellone. He added that this slowdown may be beneficial to the detail of the community planning process. In an interview yesterday, University President Drew G. Faust said that the timeline in Allston has changed. “I’m sure that what we thought we might do in the next decade is going to take longer,” Faust said, adding that since her Nov. 10 letter about the impact...
Though the primary proposals—a new Dramatic Arts undergraduate concentration, fully-funded graduate programs, and construction and renovation projects in Cambridge and Allston—are unlikely to be implemented in the next few years, University President Drew G. Faust said yesterday that a couple of recommendations can be addressed immediately. For example, Faust said, the University may be able to bring in artists-in-residence in coming semesters...
...Harvard University Employee Credit Union. In retrospect—now that we have seen our economy so negatively affected by the current financial crisis—I’m glad we decided we were not expert enough to risk gambling with student money. When University President Drew G. Faust announced that the value of our endowment had dropped precipitously by 22 percent since its June 30 estimate of $36.9 billion, the reality of the crisis hit home. Given that approximately one-third of the University’s operating budget is derived from the payout of the annual interest...
President Drew G. Faust recently announced that Harvard’s endowment had tumbled 22 percent in the first four months of the fiscal year, losing approximately $8 billion out of $36.9 billion. Earlier this week, Faculty of Arts and Sciences Dean Michael D. Smith asked professors to consider how they could cut 10 to 15 percent of their departmental budgets...
Nobel Prize-winning economist and University Professor Amartya Sen talked with Harvard Medical School professor Dr. Paul Farmer in a conversation moderated by University President Drew G. Faust...