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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: sandintoes who wrote (675323)3/15/2005 11:56:01 PM
From: Hope Praytochange  Read Replies (2) | Respond to of 769670
 
Professors, in Close Vote, Censure Harvard Leader
By SARA RIMER

AMBRIDGE, Mass., March 15 - The Faculty of Arts and Sciences at Harvard approved a resolution on Tuesday expressing a lack of confidence in the leadership of the university's president, Lawrence H. Summers, citing longstanding dissatisfaction with his management style and, to a lesser extent, his remarks in January about women in math and science.

The vote was 218 in favor and 185 opposed, with 18 abstentions.

At an intense and sober meeting, Dr. Summers's supporters accused his opponents of political correctness while his critics emphasized that their concerns had nothing to do with political correctness but were about Dr. Summers's leadership, as well as his remarks concerning a lack of women in science.

Passage of the resolution was largely symbolic because only the Harvard Corporation, which governs the university, has the authority to dismiss the university's president.

The corporation reaffirmed its support for Dr. Summers in a statement released after the meeting by James R. Houghton, senior fellow of the corporation. "The members of the Corporation fully support President Summers in his ongoing efforts to listen thoughtfully to the range of views being expressed by members of the university's faculties, and to work collegially and constructively with them to address the important academic matters facing Harvard," Mr. Houghton said in the statement.

The vote of no confidence, believed to be the first in Harvard's history, was a blow for Dr. Summers, who has been trying for weeks to repair relations with his faculty.

Dr. Summers spoke briefly at the end of the meeting on Tuesday, saying he had been trying to learn from people at the university in the last few weeks and would keep trying.

At a statement released after the meeting, Dr. Summers said he had done his best "to hear all that has been said, to think hard, to learn and to adjust."

"I will continue to do that," he added. "I am committed to doing all I can to restore the sense of trust that is critical to our work together, and to re-engage our collective attention with the vital academic issues before us."

The vote was taken by secret ballot, and when the results were announced, about halfway through the meeting, "people gasped," said Prof. Mary C. Waters, chairwoman of the sociology department.

"Everyone was in shock," said Professor Waters, who said she voted for the no-confidence resolution. "People did not expect it." At that moment, Professor Waters added, "I felt sorry for Larry."

But others took a harder line. J. Lorand Matory, a professor of anthropology and African and African-American studies, told reporters after the meeting that Dr. Summers should step down. "There is no noble alternative for him but resignation," said Professor Matory, who introduced the resolution.

As a possible compromise, some members of the faculty had put forth a second resolution, which expressed regret at Dr. Summers's management style and his remarks about women. But the faculty passed the harsher no-confidence resolution first. It then approved the second measure, with a larger majority, 253 to 137.

"This is not even about just style anymore," said Professor Waters, who has criticized Dr. Summers for what she describes as a pattern of intimidating faculty members and squelching debate. "There is widespread dissatisfaction with his substantive decisions as well as style."

Dr. Summers, an economist and a former United States Treasury secretary, has been meeting individually with faculty members throughout the Faculty of Arts and Sciences over the last several weeks, apologizing for his remarks about women and for any other offense he might have given and asking for their support so he could move forward.

Now in his fourth year as president, Dr. Summers has ambitious plans to expand the campus to Allston, across the Charles River; to reinvigorate the undergraduate curriculum; and to put a new emphasis on big science.

Claudia Goldin, an economics professor who is a strong supporter of Dr. Summers, said she was disappointed by the vote but added that it represented a "bare majority of those who were there" among the 600 or so voting members of the Faculty of Arts and Sciences.

"I still think he's taking the university in the right direction," Professor Goldin said. "There are clearly people who don't like the direction for one reason or another. Some feel threatened."

David Ward, president of the American Council on Education, a nonprofit advocacy group of college presidents and chancellors, expressed astonishment at the vote of no confidence.

"It is such an unprecedented event that it's very hard to anticipate the immediate consequences," said Mr. Ward, former chancellor of the University of Wisconsin at Madison. "It indicates perhaps a level of seriousness that I had not anticipated. I knew there was a problem. I thought people would have a little more patience to see if this could be worked out."

Mr. Ward said he could not answer the question of whether Dr. Summers could continue to govern effectively. "That really depends on how he feels about the vote and the degree to which other parts of the university share the feelings that are expressed at this time," he said.

Professor Waters and other professors have said in recent weeks that they had been concerned about Dr. Summers's leadership for some time and that his remarks in January suggesting that "intrinsic aptitude" might be an explanation for women's lack of success in science had brought the concerns out.

Despite differences of opinion over Dr. Summers, faculty members took pains to talk with one another after the meeting in a demonstration of collegiality, Professor Waters said.

nytimes.com



To: sandintoes who wrote (675323)3/16/2005 12:04:15 AM
From: Hope Praytochange  Read Replies (1) | Respond to of 769670
 
washingtonpost.com

Summers's earlier comments had touched off a period of intense reflection and debate, both within the influential institution that is often chided for the small number of women who reach its tenured ranks, and across the country, as pundits and researchers argued the merits and appropriateness of his remarks.

Attempting to address reporters after the meeting, Summers was shouted down by a few dozen students waving a large sign that proclaimed "End Sexism" and chanting "Hey, hey, ho, ho, Larry Summers has got to go!"

"As I said to the faculty, I have done my best these last two months to hear all that has been said, to think hard, to learn and to adjust," he said. "I will continue to do that. I am committed to doing all I can to restore the sense of trust that is critical to our work together, and to reengage our collective attention with the vital academic issues before us."

He was then hustled to a waiting vehicle by university police officers.

J. Lorand Matory, a professor of anthropology and African and African American studies who submitted the lack of confidence motion, said he was surprised that it prevailed and that the result indicated Summers should step down.

"This was a resounding statement that the faculty lacks confidence in President Summers, and he should resign," Matory said. He added that Harvard's governing body might reconsider its support of Summers.

A call to the board's offices Tuesday night was not returned.

Tuesday's votes were held in a regular monthly faculty meeting that was moved to a local theater to accommodate the large number of professors expected to attend. No previous president since the university was founded in 1636 has faced or lost a faculty vote over confidence in his leadership, according to the university's public relations office, which released a statement outlining the history of "Harvard Presidents Under Fire."

The votes came on the heels of two emotionally charged faculty meetings in February, during which Summers was lambasted by critics who broadened the debate beyond his remarks about women to include what some describe as a closed-minded and imperious approach to university politics.

Other professors came to his defense, though even some supporters said that his January statements had been unfortunate. Only Harvard-affiliated news organizations are permitted to attend faculty meetings.

For weeks, Summers repeated apologies for his remarks, which he said were ill-informed and regrettable. He formed a pair of task forces designed to study barriers to women's advancement in academia, and reached out to professors and student groups to try to make amends.

Summers's defenders said after Tuesday's meeting that the result of the votes would be to stifle academic freedom. Others pointed out that the faculty of arts and sciences is just one body in a university that also contains a several somewhat autonomous professional schools.

"The votes seem to me to be a negative comment not on the leadership of President Summers, but on the faculty of arts and sciences," Ruth Wisse, a literature professor, said. "This is a university that is in the business of looking for the truth. If you look for the truth, you often find yourself in a situation where you offend some people."

The dean of the faculty of arts and sciences, William C. Kirby, who has remained publicly silent as the rift has formed between Summers and the body, issued a conciliatory statement following the meeting.

"I value the views of the faculty, and of President Summers," he said. "And I believe we all are committed to moving forward in a constructive fashion."

But several professors said repairing the rift would be a difficult process. "I don't think [the votes] took the heat out of any of this," said Alice Jardine, a professor of Romance languages and women's studies. "I think it's the beginning of a long conversation."



To: sandintoes who wrote (675323)3/16/2005 1:08:07 AM
From: Lazarus_Long  Read Replies (4) | Respond to of 769670
 
Where are ALL THOSE DEMOCRATS who were asking why none of the corporate thieves had gone to jail under Bush?

FRONT AND CENTER!

"Millstones of Justice turn exceedingly slow, but grind exceedingly fine."- - Euripides, (485-406 BC)

Former WorldCom CEO Guilty on All Counts
Tuesday March 15, 10:32 pm ET
By Erin Mcclam, Associated Press Writer
Jury Finds Ex-WorldCom CEO Bernard Ebbers Guilty on All Counts in Connection With Massive Fraud

NEW YORK (AP) -- Bernard Ebbers, the once-swaggering CEO of WorldCom, was convicted Tuesday of engineering the largest corporate fraud in U.S. history -- an $11 billion accounting scandal that capsized the big telecom company three years ago.

The verdict marked a colossal fall for Ebbers, who had turned a humble Mississippi long-distance provider into a global telecommunications power, swallowing up companies along the way and earning the nickname "Telecom Cowboy."

A federal jury in Manhattan returned guilty verdicts on all nine counts, including securities fraud, conspiracy and lying to regulators -- a decision that could send Ebbers, 63, to prison for the rest of his life. Sentencing was set for June 13.

The former chief executive reddened deeply when the jury announced its verdict after eight days of deliberations, and his wife, Kristie, burst into tears in the courtroom's front row. Later, as his lawyer spoke outside, promising an appeal, Ebbers and his wife -- nearly toppled by the enormous crew of cameras and reporters camped outside the federal courthouse -- made their way to a nearby street, hailed a cab and drove away.

Attorney General Alberto Gonzales called the conviction a "triumph of our legal system." He said the jury had recognized that the fraud "extended from the middle management levels of this company all the way to its top executive."

In a six-week trial, prosecutors painted Ebbers as obsessed with keeping WorldCom stock high, and panicked about pressure he was getting over $400 million in personal loans that were backed by his own WorldCom shares.

From late 2000 to mid-2002, the government claimed, Ebbers intimidated chief financial officer Scott Sullivan into covering up billions of dollars in out-of-control expenses and recognizing improper revenue.

"He was WorldCom, and WorldCom was Ebbers," prosecutor William Johnson told jurors. "He built the company. He ran it. Of course he directed this fraud."

The defense claimed all along that the fraud was masterminded by Sullivan, who testified as the star government witness that Ebbers instructed him quarter after quarter to "hit our numbers" -- meet Wall Street expectations.

Ebbers himself took the witness stand at trial's end and flatly denied any role in the fraud. He said he viewed his role at the company as a visionary and cheerleader, was uncomfortable with accounting and left it to Sullivan.

"He's never told me he made an (accounting) entry that wasn't right," Ebbers said of Sullivan. "If he had, we wouldn't be here today."

The largely blue-collar jury of seven women and five men considered the case for eight days, an uncommonly long deliberation for white-collar cases, but never showed signs of discord.

The jurors were ushered away from the courthouse without speaking to the media, and Judge Barbara Jones instructed reporters not to badger them.

Outside court, top defense lawyer Reid Weingarten said he was "devastated" but predicted Ebbers "will ultimately be vindicated" on appeal. He said he had no regrets about calling Ebbers to testify.

"I did not think Mr. Ebbers ever acted with criminal intent," he said. "Obviously we're disappointed by the result, but the fight will continue."

Legal experts said the appeal would be difficult. Weingarten said part of the case would center on prosecutors' refusal to grant immunity to three former WorldCom executives the defense wanted to call as witnesses.

The nine criminal counts against Ebbers -- securities fraud, conspiracy and seven counts of making false filings to the Securities and Exchange Commission -- carry up to 85 years in prison. He will be free on bail until sentencing.

The conviction comes more than two years after an internal auditor began asking questions about curious accounting at WorldCom, touching off a scandal that eventually unearthed $11 billion in cooked books.

With the entire telecom industry suffering a dot-com hangover, the fraud was driven by soaring "line costs" -- the fees WorldCom paid to smaller local telephone carriers to use their networks.

Besides Sullivan, three former WorldCom accounting officials who have pleaded guilty in the case testified they were pressured to cover up the expenses. Only Sullivan directly implicated Ebbers.

Ebbers still faces civil litigation, including from the company, which backed up his $400 million in personal loans when Bank of America demanded more and more collateral as the stock price fell.

The company struck a $750 million settlement with federal regulators to repay aggrieved investors, a small sum compared to the tens of billions of dollars of market capitalization that evaporated in the scandal.

WorldCom, which was based in Clinton, Miss., since re-emerged as MCI Inc., based in Ashburn, Va.

Twelve former directors of the company, plus some investment banks that underwrote WorldCom securities and auditing firm Arthur Andersen, also face a civil trial brought by angry investors. That trial is scheduled to get under way later this month.

In winning a conviction against Ebbers, federal prosecutors in Manhattan rang up another victory in a remarkable string of white-collar prosecutions that began in the summer of 2002.

Martha Stewart, Adelphia Communications founder John Rigas and former dot-com banking star Frank Quattrone were all found guilty during that stretch -- with the same prosecutor, David Anders, handling both Quattrone and Ebbers.

The prosecutors have also wrung guilty pleas from countless other executives, including ImClone Systems Inc. founder Sam Waksal and five other former WorldCom officials who agreed to cooperate against Ebbers.

Sullivan and the three former WorldCom executives who have pleaded guilty in the case still face sentencing. They hope to win lighter prison terms -- or none at all -- by cooperating with the government against Ebbers.

biz.yahoo.com