A decade of leadership After serving a decade as president of Harvard University, Drew Faust announced last week that she will step down on June 30, 2018. A collegial and unifying figure known as both a decisive leader and a good listener, she is the only president many members of the Harvard community have ever known. But change is now on the horizon.To discuss both her legacy and the future, the Gazette spoke with Harvard Corporation Senior Fellow Bill Lee, who was a member of the Board of Overseers from 2002 to 2008 and has been a member of the Corporation since 2010. Lee was one of the three Overseers on the 2006–2007 presidential search committee that selected Faust. In a letter to the Harvard community immediately after Faust’s announcement, Lee praised the president who “approached every day with a singular purpose: to ensure that Harvard remains the pre-eminent academic institution in the world by constantly driving Harvard forward.”In a Gazette Q&A session, Lee discussed Faust’s plans for her last year, her decade of achievements, the search for her successor, and the challenges facing Harvard in maintaining its momentum at the forefront of higher education.GAZETTE: In her letter to the Harvard community, President Faust emphasized the importance of using the coming year to “advance our shared purposes.” Can you speak to what those priorities will be?LEE: She has identified them, and they have been consistent: her focus on One Harvard and on institutional collaboration and cooperation across the University; her intense focus on the funding and support of research and scholarship across all academic areas, particularly at this moment in our history; the focus on continuing to ensure that Harvard is a community open to diverse and interesting faculty, students, and staff; and ensuring that once members of our community are here, Harvard is a place that is welcoming and good for them as well. Of course, there is also the priority of continuing the capital campaign. We have terrific momentum, we are well beyond our goal, but Drew is committed to the successful completion of the campaign and to ensuring that all of the different priorities of the Schools are fulfilled as best they can be. GAZETTE: You mentioned The Harvard Campaign. What does that strong fundraising effort under her leadership — $8 billion raised thus far with another year to go — mean for Harvard moving forward?LEE: I think the result of the capital campaign to date reflects three things. First, it reflects enormous confidence in what Drew has done as the leader of the University. Second, the magnitude of the contributions to date and the breadth of the contributions across the different Schools reflect the deep commitment of many people, including alumni, friends, and others, to the mission of Harvard. Third, we have been able to achieve campaign goals in critical areas, such as raising $2.9 billion for the sciences, including gifts to rename what have become the Harvard Paulson School of Engineering and Applied Sciences and the Harvard Chan School of Public Health. But there are other important campaign priorities that remain to be satisfied, such as House renewal and a wide range of priorities across the Schools. And, with the federal government threatening to decrease funding for the cutting-edge research that Harvard has always done, endowment support for that critical part of the University’s mission has become even more important.GAZETTE: One Harvard, President Faust’s commitment to fostering collaboration across the College and the University’s professional Schools and programs, has been an important part of her mission as president. Why do you think that effort has been so critical and successful?LEE: For many decades, Harvard has had many great parts — but Harvard as a whole was less than the sum of its parts. Historically, we flourished by being “every tub on its own bottom.” But for Harvard to be everything that it can be in this new era, a new model was required. Harvard was going to have to collaborate, cooperate, and integrate in a way it hadn’t done before. Drew recognized this and made One Harvard a core principle of her vision. She then put in place a set of deans who had the same vision for Harvard and who were prepared to lead their Schools by collaborating and cooperating. The deans she selected are not only eminent scholars and leaders in their fields, but also people dedicated to Harvard more broadly. The efforts and initiatives of Drew and these deans have resulted in more creativity, more innovation, more collaboration, and more cooperation. Drew also used some of her funds at the center of the University to help support programs that would foster integration across the whole. I think it’s a combination of all those things that has contributed to progress toward One Harvard. GAZETTE: What are the kinds of qualities that President Faust has brought to the job that you will be looking for in the next leader of Harvard?LEE: Drew has a special combination of vision, character, integrity, the ability to execute, and the ability to communicate. She is, of course, a wonderful writer and speaker. But, more importantly, she has the ability to listen to a wide range of voices and perspectives from a diverse set of constituencies. We hope the new president will have those qualities because they are critical to effective leadership. Thanks to Drew, we are in a position of real strength. We hope and expect the next president will have many of the same leadership qualities, and will build upon the momentum that Drew has created. But we also hope and expect that the next person will be someone who can, as Drew has, look forward 10 or 15 or 25 years, imagine what Harvard needs to be then, and begin to take the steps to ensure that Harvard will be the eminent institution it is today.GAZETTE: What can you tell me about the process of looking for her successor?LEE: As an Overseer, I was part of the search process that led to Drew’s being chosen as president in 2007. It was a robust process that allowed us to connect with a wide variety of members of the Harvard community, as well as a broad range of leaders in higher education. We thought it was successful. We intend to have a process that does much the same this time.Under the charter, the Corporation elects the president, and the Overseers have a special responsibility for counsel and consent. As in the past several presidential searches, we’ll be forming a search committee that will include the members of the Corporation other than the president, as well as several representatives of the Overseers. That search committee will be larger by definition because there are now 12 of us on the Corporation in addition to the president. We will add three Overseers to have it become a 15-person search committee.We will be reaching out widely to the larger community. In the last search, we created two advisory committees, one of faculty, another of students, both including members from across the University. They were enormously helpful by providing us advice, gathering information, and reaching out to others with different perspectives and ideas. The model worked very well last time, and I would expect that we would have the same type of committees and that we’ll work with them in the same close manner.Beyond the advisory committees, the members of the search committees will be spending a lot of time communicating directly with a range of faculty, students, staff, and alumni about what they view to be Harvard’s strengths, what they view to be Harvard’s challenges, and what they would like to see in a new president. We’ll write to the whole community this summer to invite advice and nominations. And we’ll be having many confidential conversations with individuals and groups to hear their views — people inside Harvard, obviously, but also leaders in higher education and others outside Harvard who can give us a fuller picture and make sure we’re seeing things from the outside and not just from within. When we did our outreach last time, hundreds of people responded and provided useful information. That very much informed not just the choice of a president, but our sense of Harvard’s directions and possibilities for the future.At least from my perspective, Drew’s performance and leadership over the last 10 years are a pretty good indication that the process that we used then worked pretty well.GAZETTE: Looking forward, in your mind, what are the biggest challenges still facing the University?LEE: There are a host of issues facing universities today, and the search ahead will help us identify them more clearly. Off the top of my head, I’ll mention just a few. There is the question of the traditional financing model of university education and what that’s going to look like 25 or even 10 years from now. There is the question of how the historic relationship between the federal government and universities on basic and applied research will evolve. There is the question of how universities are going to adapt to the proliferation of other sources of education, online and elsewhere, and how we innovate in teaching and learning, in our degree programs and in lifelong learning. There is the question of how the world of ideas is changing, how intellectual boundaries are shifting and sometimes dissolving, how we pursue scholarship for its own sake, but also how we can help confront complex problems in the world. And there is the question of how universities can best serve a diverse population of faculty, students, and staff. We need to create a community where everybody is and believes they are respected and welcomed, but also has the positive creative tension of an intellectually dynamic culture, in which we embrace both our openness and our differences as foundations of our strength.This interview has been edited for clarity and length. Celebrating President Drew Faust Related
In the time-honored tradition of long-haul truckers and cheapskates road tripping across the United States, the backseat of my car has long served as an ad hoc bed for covert slumber away from home and on an adventure. Pull over, crack the windows, grab a fleece jacket for your pillow, and goodnight.Employed carefully — and legally — sleeping in a car makes a lot of sense for a quick night’s rest at a mountain trailhead before a climb or in a campground when you pull in too late to erect a tent. Drive a truck or a van and you can unfurl pads and blankets in back to convert your Ford into a makeshift motorhome.Timco Industries LLC of St. Louis Mo., makes a product to “turn your vehicle into a tent in seconds.” Essentially square sheets of netting with magnets stitched on the edges, the Skeeter Beater window screens attach on a car’s exterior to create instant screened window openings.Made of polyester no see-um mesh, the Skeeter Beaters can keep out mosquitoes, gnats and other bugs.In my test, the magnets snapped tight to the car’s metal and held the screen in place with no gaps. Strong wind might move the Skeeter Beaters, though in a windy setting gnats and mosquitoes — not to mention in-car ventilation — won’t be an issue.In the past, lack of ventilation often hampered my nights sleeping in a car on reclined bucket seats. But with the Skeeter Beaters air flows freely through the mesh-covered open windows, granting easy warm-weather slumber.Since they attach around the windows on the edge of a door, you can go in and out of a vehicle without removing the screens.The company (www.theskeeterbeater.com) sells the Skeeter Beater for about $30 a pair. They come in several colors and eight sizes to fit dozens of vehicles, from a Chevy Suburban to a Ford Focus.(Stephen Regenold writes a daily blog on outdoors gear at www.gearjunkie.com.)
The 30,000 emails Mrs. Clinton erased were not about her yoga classes or her mother’s funeral. They were about money she was taking for the fake Clinton Foundation. You know from people all over the world who thought they could buy favors from her when she became president. That’s someone who enriched themselves at the expense of the American people. Donald Trump is a billionaire; he’s donating his salary he gets as president. He could make a lot more money not being president. As far as not being qualified, Obama set the bar as the least qualified person to ever be president. He started the war on cops, attempted to destroy the greatest healthcare system in the world, added as much to the national debt as all the presidents before him, made race relations the worst they have been in 50 years. And the things he considers great accomplishments of his, he had to lie to get them done. For example, Obamacare, the Iranian agreement and don’t forget how he lied about Benghazi to protect his reelection.Cynthia, our economy is growing, unemployment is down, we have re-established ourselves as the world’s lone superpower as opposed to “leading from behind.” What a joke. Face it, Trump is making America great again.Dave EdwardsHalfmoon Categories: Letters to the Editor, Opinion Re May 30 letter, “Trump supporters must be voted out”: Ms. Cynthia Swanson’s claims are false and very hypocritical.There is no evidence that President Trump colluded with Russia. None. The only candidate who colluded with Russia in the last election was Mrs. Clinton. The fake dossier she paid for was written with Russian help. More from The Daily Gazette:Police: Schenectady woman tried to take car in Clifton Park hours after arrest, release in prior the…EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Thruway tax unfair to working motoristsFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Find a way to get family members into nursing homes
Looming risks from the unresolved COVID-19 pandemic have led investors to be more conservative, including by maintaining high levels of cash, he noted.Fears over the coronavirus outbreak’s economic impact rattled global stock markets, including that of Indonesia, in March and April as investors dumped risky assets and turned to safe-haven assets, such as gold and the United States dollar. The capital outflows weakened the rupiah’s value against the greenback.The Jakarta Composite Index (JCI), the IDX main gauge, has lost almost 17 percent of its value so far this year as it slipped 0.18 percent to 5,230 on Monday. It fell to its lowest point on March 24 to 3,937.63 due to the virus fear and since then, the index has gained around 32 percent, a rally analysts say was backed by domestic retail investors.According to the bourse’s data, foreign investors have made up 36 percent of the total value traded on the IDX, at Rp 470.1 trillion, so far this year while domestic investors made up 64 percent, Rp 828 trillion. On Monday alone, foreign investors made up only 19 percent of the total daily trading value, indicating that the trend of declining foreign trading in the IDX continues. In terms of stock value, foreign investors mostly cashed out from the retail, metal and mining sectors, as well as from the cement industry, Frederik said.“For the retail and cement sectors so far, it does not look like they will recover in the near future. Meanwhile, the mining sector’s [recovery] will depend on the global prices, especially nickel,” Frederik explained, adding that interest in those sectors was still present, but at relatively low prices.IDX data revealed that the property, real estate and construction sector was hit the hardest compared with others on the bourse as it fell 41.34 percent as of Monday, followed by miscellaneous industry (down 26.25 percent) and infrastructure, utilities and transportation (down 24.76 percent).Frederik warned that despite the gain in recent months, the index might experience another decline as long as the real economy had not recovered.Meanwhile, Bank Negara Indonesia (BNI) Sekuritas research head Kim Kwie Sjamsudin told the Post on Aug. 31 that the return of foreign capital would likely happen after the United States election in November concluded.“I expect foreign investors will be back to the local market at the end of 2020’s fourth quarter,” Kim said.Foreign ownership within the Indonesian capital market has gradually decreased over the years, as shown by Indonesian Central Securities Depository (KSEI) data on the growth of total assets listed in C-BEST, an electronic platform to store and complete securities transactions.Foreign investors’ assets accounted for 57.04 percent of the total assets in 2013 while domestic ownership stood at 42.96 percent, according to data presented by University of Indonesia stock market expert Budi Frensidy in a webinar on July 28.By last year, the foreign ownership fell to 44.29 percent and domestic ownership was at 55.71 percent. The nonresidents’ stake fell further to 41.45 percent as of June this year.Jasa Utama Capital analyst Chris Apriliony said on Aug. 31 that foreign participation in the bourse was certainly needed if market players wanted the index to rally, adding that a significant foreign capital outflow could weaken the rupiah, depending on whether foreign funds left the country or they merely transferred to other investment instruments, such as bonds.A document prepared by the Organization for Economic Cooperation and Development (OECD) in June 2020 states that the capital flow dynamics during the COVID-19 crisis appeared to be exceptional in regard to the scale and speed of the outflows, to the extent of exceeding the flows observed in previous crises, including the 2008 global financial crisis.“The Institute of International Finance [IIF] daily flows tracker estimates that around $103 billion were drawn from emerging market economies between mid-January and mid-May 2020, with equity inflows plummeting first, followed by debt flows,” the document reads.Topics : The Indonesian stock market is likely to endure a selling spree by foreign investors until year-end as the global economic and political situations remain unfavorable for the country’s assets amid the prolonged COVID-19 pandemic, analysts have said.Foreign investors at the Indonesia Stock Exchange (IDX) sold almost Rp 32 trillion (US$2.16 billion) of stocks more than they bought as of Monday. In comparison, the local bourse managed to book foreign net buys of Rp 49.19 trillion last year and Rp 50.75 trillion in net selling in 2018, IDX data shows.“The outlook has yet to become bullish because of the many [global uncertainties] that are not likely to be resolved in the near future,” securities company Artha Sekuritas Indonesia vice president Frederik Rasali told The Jakarta Post on Aug. 31.
Russell Wilson recently became the NFL’s highest-paid player, but he hasn’t forgotten about who protects him.The Seahawks quarterback signed a four-year, $140 million extension with Seattle earlier this month. To celebrate, he then gifted each of his offensive linemen $12,000 in Amazon stock. “Every Sunday we go to battle together. You sacrifice your physical and mental well-being to protect me, which in turn allows me to provide and care for my family. Now it is my turn to return the favor, I would not be where I am today without you working to be great day in and day out.When I sat down to think of ways to honor your dedication a dozen different ideas came to mind. Some were flashy, some were cool, but I wanted to give you something that had a lasting impact. Something that would affect the lives of you, your family, and your children.”Wilson settled on $12,000 as an homage to the number 12, which the franchise has retired in honor of its fans, according to a report from The Seattle Times.Wilson has played the entirety of his seven-year career in Seattle and has said he wants to be a “Seahawk for life.” He threw for 3,448 yards and a career-high 35 touchdowns in 2018, leading his team to a 10-6 record and a second place finish in the NFC West standings behind the Rams. Wilson spent a total of $156,000 on 13 teammates, according to a TMZ Sports report. Each lineman also received a letter from Wilson.Wilson wrote: Related News Seattle went on to fall to the Cowboys in the Wild-Card Round of the playoffs. Josh Rosen trade rumors: Are Dolphins interested in dealing for the Cardinals quarterback? Russell Wilson wants to be a ‘Seahawk for life’