Word: smith
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...searches begun for new faculty this fall will not be put on hold, and reviews for promotion within the tenure-track system will continue as scheduled, Smith wrote in the letter...
Despite these assurances, Smith repeated his request from last Tuesday’s Faculty meeting and asked departments to reevaluate any open search if “the priority of the search changes or the quality of the applicant pool is not truly extraordinary...
...next two weeks, Smith will appoint a priorities committee to facilitate discussion between Smith and faculty about budgetary planning until March...
Monday’s move did not come without warning. At last week’s Faculty meeting, Smith suggested his intention to reduce costs by “pushing off” pending administrative hires for the current fiscal year ending in June 2009—a move that could save $10 million, he said. But with the Dean’s estimate of the budget shortfall for next fiscal year hovering around $200 million if external estimates prove accurate, cuts beyond the administration freeze may be necessary...
...Smith has based many of his projections on an estimate by Moody’s financial ratings agency that says college and university endowments may suffer a 30 percent decline during the current fiscal year...