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...slashing the jobs of long-time employees while failing to issue pay cuts for themselves and top financiers. Speakers reiterated their belief that Harvard's top leaders' actions have been motivated by greed and financial self-interest and argued that the University's behavior has been unbecoming of its non-profit designation. One protester's sign even asked, "Harvard: University? or Investment Bank...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Staff, Activists Protest Layoffs | 6/25/2009 | See Source »

...University spokesman Kevin Galvin noted that compensation costs account for half of Harvard's operating budget, and also pointed to the other cost-cutting measures implemented by the University before the layoffs, including a voluntary early retirement program, a salary freeze for faculty and non-union staff, and strictly limited hiring practices. He said that staff reductions have thus far been "spread evenly across our workforce," and noted that the average participant in the early retirement program had an annual salary of $67,000, with roughly half the participants working as hourly employees and half as administrative and professional staff...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Staff, Activists Protest Layoffs | 6/25/2009 | See Source »

...indeed soul mates, say widow-penalty opponents, then the immigration rule simply defies any sense of fairness. But to get the Nelson-McGovern bill through Congress, they'll probably have to convince immigration conservatives that making the death of an American spouse a reason for the deportation of a non-American spouse is downright un-American...

Author: /time Magazine | Title: Will Congress End the Immigration 'Widow Penalty'? | 6/24/2009 | See Source »

...danger of using home equity to pay off nonhome debt: "A recent Federal Reserve report estimates that of the trillions of dollars in real home equity cashed out between 2001 and 2007, homeowners used $874 billion to pay off non-mortgage debt - in effect rolling consumer debt into their home loans. Unlike consumer debt, mortgage debt cannot be discharged through personal bankruptcy." (See pictures of the housing crisis...

Author: /time Magazine | Title: The State of the Nation's Housing | 6/23/2009 | See Source »

...Despite the presence of up to 2,000 U.S. special-forces troops in Djibouti, to Somalia's north, and an unprecedented international naval force involving more than 20 countries off the Somali coast to fight the piracy that has grown, in part, out of the chaos on land, non-African countries consistently reject the notion of intervening onshore. This is partly out of fear of the consequences: a U.N.-backed U.S. intervention in Somalia in 1993 cost 18 American lives in events later portrayed in the book and film Black Hawk Down...

Author: /time Magazine | Title: Rebel Threat Pressures Somalia's Neighbors | 6/23/2009 | See Source »

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