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...larger scheme of things, it must be remembered that the custodial staff cuts do not occur in a vacuum. If cuts are not made here, they will be made somewhere else. The educational mission of Harvard must be the main determinant when considering what programs and staff to eliminated, and cutting outsourced custodial labor is a reasonable place to reduce spending. Harvard spokesperson Kevin Galvin explained that the cuts are due to “unprecedented fiscal situation [at] Harvard” that is causing the university to carefully consider funding for each of the programs it administers...
...March, a number of actions will occur that will be critical to demonstrating whether the economic disaster will get much worse. The first is that the issue of the nationalization of the banks may well be resolved. The debate about the issue has already hit a fevered pitch and if the first quarter is going to bring another series of multi-billion losses, institutions including Citigroup and Bank of America (BAC) may simply not have the balance sheet strength to remain independent. While having the government seize one or two major banks may ultimately be the key to their survival...
...states are on board. "We're very mindful of the tough economic situation the states are experiencing," says Howse. "But I am relatively optimistic about this program staying in place. It's much less expensive to treat these conditions than it is to manage the catastrophic illness that can occur if they are not detected...
...Faust added Harvard will also slow planning for the rest of its Allston construction—which has been slated to occur over a 50-year time span. She said that Harvard will deliver on its previously agreed-upon community benefits, as well as “develop options for interim improvements to [its] existing properties”—which some local residents say Harvard has left undeveloped to Allston’s detriment...
...brought to ground level at a slower pace while planners conduct detailed cost analyses to determine whether to keep current plans, reconfigure the building to cut costs, or halt construction completely. Faust said the rest of Harvard’s Allston planning—which has been slated to occur over a 50-year time span—will also slow. She added that Harvard will “develop options for interim improvements to [its] existing properties” as well as deliver on its previously agreed-upon community benefits. Harvard programs promised space in the complex, such...