Word: rapiers
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...letter addressed specifically to the Class of 1969 this summer, Donella M. Rapier, vice president for alumni affairs and development, said Harvard had no choice but to pay competitive salaries to its managers...
...While some of us might wish it were otherwise, the reality is that there are a small number of professions in which the demand for top talent far outstrips the supply,” Rapier wrote. “Intense competition for the very best people in those fields has driven their compensation levels to breathtaking heights: network news anchors, Fortune 500 CEOs, professional athletes, and entertainers with box-office appeal. Managers who can successfully invest billion-dollar funds are in that same league...
Harvard has waged a year-long public relations campaign to defend its endowment managers’ salaries with letters, like those from Daniel and Rapier, and strong statements by Meyer, who first instituted the performance-based compensation policy when he took over as president of the management company...
...months since Raffeld’s departure, Rapier said that she and a number of other administrators had taken a relatively short time to sift through a small group of potential hires in order to select Abell...
...turned us down twice,” Rapier said. “All of the senior administrators who met him just thought he was fantastic, and it was a matter of convincing him to come do this...