Word: droppingly
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Harvard first announced plans in February to slow construction on its much-touted Allston Science Complex due to financial pressures and an unprecedented drop in the endowment. And to top off the University's financial woes, Harvard’s multi-million dollar Allston development fund had been all but wiped out by the financial crisis as of early March, scuttling the hopes of some Harvard faculty and administrators that the money could be diverted toward their own strapped budgets. Allston residents feared Harvard would halt construction on the science complex—a core component of the University?...
...effort to right itself after news of a precipitous drop in the University's endowment, Harvard officials offered early retirement packages to staff in February to push back the possibility of layoffs. The plan, available to staff over 55 who have worked at the University for over 10 years, was implemented in two phases, first at the Faculty of Arts and Sciences and Harvard Medical and Dental Schools and then at the remaining schools. Roughly 530 employees accepted early retirement incentive packages this spring, exceeding the University's expectations, but Harvard was forced to lay off 275 employees in June...
...aficionados of auto-racing and high-performance sports cars, Gordon Murray is a legend. He's designed championship-winning Formula One cars, as well as two iconic, drop-dead-beautiful sports cars: the McLaren F1, one of the fastest road cars ever made, and the Mercedes SLR McLaren. These cars were, of course, built for speed and power; fuel economy wasn't even an afterthought. So it's somewhat surprising that the 63-year-old South African engineer is now more interested in cleaning up the planet by reducing carbon emissions than cleaning up at a Grand Prix finish line...
...jobs, manufacturing continued to erode, and housing prices failed to recover from the previous year's crash. Unemployment rose to 10.2%--the highest rate in 26 years--despite the Obama Administration's stimulus efforts, which pumped billions into the economy. Detroit was hit especially hard: Ford saw a steep drop in sales, Chrysler was taken over by Italian firm Fiat, and GM briefly entered bankruptcy. One bright spot was Wall Street, where stocks reversed much of 2008's decline. The economy showed encouraging growth in the third quarter, but with jobs still scarce, the impact of the Great Recession lingers...
...federal subsidies pay 65% of the cost of COBRA premiums. Originally, the subsidy was to expire after nine months and unemployed families would have seen their health care premiums spike on average from $389 to $1,111 per month. This tripling of cost could have caused many families to drop their health care coverage just as Congress is on the cusp of passing the most far-reaching health care reform legislation in history. (See the Cheapskate blogger on COBRA...