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An updated schedule for the NEASC visit has been posted on the public and sandbox drives. This document includes information about Olin participants and will be updated on a regular basis. There are three open meeting opportunities during the visit:
- Lunch with Faculty Members: Monday, April 10, 12-1:30 p.m., Crescent Room (feel free to drop in). Please sign up on sheets posted in the OC
- Open Meeting with Students: Monday, April 10, 5:00-6:00 p.m., Auditorium
- Open Meeting for Community: Tuesday, April 11, 3:30-4:30 p.m., Auditorium
In February, the College's Investment Committee initiated a major change in the way our endowment investments are managed. The process began with interviews of potential replacements for the existing investment consulting firm. The Committee met with Cambridge Associates, the largest higher education investment consulting firm in the country who proposed a traditional consulting arrangement and with Commonfund who proposed their Strategic Solutions program.
Commonfund is a non profit organization that provides investment management and educational programs to non profit organizations in North America. They currently have almost 1,700 clients and over $36.5 billion in assets under management. The Commonfund Strategic Solutions program is an integrated investment solution delivering a full spectrum of investment choices and asset allocation and related advisory services for the entire portfolio, tailored to meet the specific needs of the College. The program includes: policy review and counsel; investment management; monitoring and reporting; and rebalancing.
In late February, the Committee decided to proceed with Commonfund and a Modified Strategic Solutions program. With this modified program, the College will have Commonfund manage most of the endowment assets but will also retain three separately managed accounts: two hedge funds and one venture capital fund.
In early March, Commonfund proposed a new asset allocation plan that set a policy target and two and five year transition targets. This plan was approved and adopted by the Investment Committee on March 6, 2006. At that time we also began the process to transfer assets to Commonfund. Seven investment managers were notified that the College would be terminating its relationship with them and plans were made to liquidate their holdings. That process will be completed today when an estimated $410 million will have been moved to Commonfund for investment in various funds on April 1 .
We see a number of benefits to this change. Foremost, the College obtains the expertise of a team of almost sixty investment professionals to advise and manage the endowment assets. The portfolio will be more diversified and the asset classes used will be more appropriate to meet the spending needs of the College. We will also immediately have investments in new asset classes that will enhance returns, decrease overall portfolio risk, and provide inflation protection.
Please contact Steve Hannabury if you have any questions.
Purchasing processes at Olin are keeping up with the times. Here are some of the new changes to expect:
- In association with the new Jenzabar portal that has been introduced, requisitions for Purchase Orders will be going through an electronic approval process. We will no longer need a lengthy paper trail or the collection of hand written signatures. Budget managers, or their designated approvers, will simply verify the requisition once prompted to do so while in the portal site.
- The pilot program for Olin Procurement Card has been very successful. This program allows for College only purchases to be made by the card holders and then they are paid for directly by the College. This has been especially helpful with on-line orders and orders of low dollar volumes.
- Procurement Value Table - The following table shows the different methods for acquiring goods and services.
Dollar Values |
Petty Cash |
Procard |
Check Request |
Purchase Order |
Less $25 |
Recommended |
Recommended |
Not recommended |
Not recommended
|
$25-500 |
Not available |
Recommended |
Recommended |
Not recommended
|
$500-1,000
|
Not available |
Recommended |
Recommended |
Available |
Over $1,000 |
Not available |
Contact Purchasing |
Available |
Required |
Three competitive bids are required for the purchase of any single item of $10,000 or more.
The table above shows the suggested process for purchases at different dollar levels. One key factor that is not listed is that 3 competitive bids are required for the purchase of any single item of $10,000 or more.
Scott Slaboden will be setting up meetings with budget managers to discuss these new opportunities. If you have questions prior to that, please contact Scott.
A recent letter from the Federal Highway Administration and MassHighway announced that Olin College signs on Rt. 128 are no longer in compliance with various regulations and must be taken down. As always, directions to Olin College can still be found online in the visiting section of the Olin site.
The Office of Student Life is pleased to announce that Jennifer Thomas has been selected to be the new staff representative to the Honor Board. Mark Chang will continue as the faculty representative and Nick Tatar as the permanent adviser to the Board. We would also like to give a special thank you to Joanne Kossuth for her time and energy over the last three years as the staff representative.
The Office of Parent and Alumni Relations welcomes the new Parents' Advisory Board (PAB) for Spring 2006-08. Terry LeMoncheck, P'08 and Chair; Shelley McBride, P'07 and Treasurer, Risa Dubin, P'07, and Pat Hafford, P'07 are all returning members. New members include Steve Longfield, P'09 and Chair-elect, Barbara Boutelle, P'09, Lori College, P'07, Thomas Hayden, P'08, Joe Scholl, P'08, Kathy Stephens, P'09, Marlene Veldwisch, P'08 and Karl von Reden, P'09. The college believes this is a good representation of the student body. The PAB is advisory in nature and serves as the organizing body for the Parents' Organization. After a productive kick-off call yesterday, the PAB is excited to work together toward another successful year.
Olin College employees have access to the Employee Assistance Program through the provider, The Wellness Corporation. There are a number of resources offered through this no cost benefit that provides short-term counseling and referral services to employees and their household members. For more information review this document or call the Employee Assistance Program at 1-800-828-6025.
The College is currently seeking qualified candidates for several positions. Employees are reminded that HR is always happy to accept referrals.
Community Bulletin Board
On Wednesday, April 5 the Big Conversations keynote speaker Mardi Seng, a survivor of the Cambodian genocide and the founder and President of the non-profit Plant Hope In Cambodia, will discuss “What's Important” with the Olin community. Several service, education and advocacy activities and discussions will follow his remarks. Please visit the Big Conversations table outside the dining hall to learn more about the activities and discussions and sign up to participate. Contact Sarah Zwicker for more info.
The following candidates for Electrical and Computer Engineering faculty will be visiting Olin. All are encouraged to attend and provide feedback.
- 3/31/06: Tutorial 3:15-3:45 p.m. / Seminar 4:00-5:00 p.m. in AC109 – Wesley Huang, Assistant Professor, Department of Computer Science, Rensselaer Polytechnic Institute.
- 4/3/06: Tutorial 3:15-3:45 p.m. / Seminar 4:00-5:00 p.m. in AC126– Can Emre Koksal, Ph.D., Senior Researcher, School of Computer and Communication Sciences, École Polytechnique Fédérale de Lausanne presenting on “Perspectives on Time Varying Wireless Communication Networks”
- 4/6/06: Tutorial 3:15-3:45 p.m. / Seminar 4:00-5:00 p.m. in AC109 -- Keigo Hirakawa, Research Assistant, Department of Statistics, Harvard University presenting on “Image Denoising Using Total Least Squares.”
Additional information on the candidates will be distributed as the date approaches.
Olin College was featured recently on the Chronicle TV program on Boston's WCVB-TV, Channel 5. The program was about the growing “do-it-yourself” culture, and Olin students were spotlighted for their entrepreneurial abilities and can-do attitude. Featured were Leighton Ige, Jeff Satwicz, Tom Kochem, Kevin Tostado and Alexandra Wheeler, with VP Sherra Kerns providing commentary on the qualities of our student body. If you missed the program and are interested in seeing the Olin segment, it will be shown TODAY (3/31) at 3 p.m. in the auditorium.
Olin is calling on students from Olin, Babson and Wellesley Colleges to submit their work for the spring exhibition of the Olin art gallery. The exhibition will take place Thursday, April 27, 2006, from 5–7 p.m.
Listing Format and Details:
What: Call for students from Olin, Babson and Wellesley College to submit work for spring exhibition of Olin College Art Gallery
Submission Deadline: April 5- 7; Deliver submissions to Cara Szeghy
Submission Criteria: Original, two-dimensional work in any medium up to 30 inches wide, with no height limitations. Work need not be matted or framed. Actual work only to be submitted; no slides.
Contact: Cara Szeghy (cara.szeghy@olin.edu)
The Arthur M. Blank Center for Entrepreneurship announced the finalists for the 2006 Babson Business Plan undergraduate competition, which included the following Olin College students:
Salubrion, LLC -
Seth Heltsley, Grant Hutchins,
Leighton M. Ige,
Daniel Lindquist, as well as Alice Kuo (Wellesley College) and Nils Seebach (Babson).
The team will present their plan on April 4, 10:00 a.m.-noon in Babson's Olin Auditorium. All are welcome to attend and cheer on the Salubrion team.
LeadAmerica is looking for responsible, high-energy, positive people to join our exceptional staff for our Engineering, Science & Robotics leadership program. Through hands on simulations, briefings and discussions with national and world leaders and other experiential learning, these leadership conferences provide outstanding high school and middle school students with the experience of a lifetime! Conferences are held on college campuses around the country (including Olin's) from June 6-August 6, 2006. Staff members typically work 3 or 4 conferences/sessions during the summer with a few days break between each session. More information is available in this document or by visiting,
http://www.lead-america.org/employment/.
Regis College, just six miles from Olin, is hosting the Tournées Film Festival, with three French films next week:
Admission is FREE and all films are at 7:00pm in College Hall 202. Please contact David Soo if you have questions or would like a ride to the film on Wednesday.
Join Babson, Olin and Wellesley College students for our first night of Passover on April 12, 2006. The Seder will begin at 5pm in the Needham Wellesley Room, Olin Hall at Babson College. If you wish to attend, please RSVP by April 3 to Patti Sheinman. Students interested in celebrating the second night of Passover with a local home visit, please email Patti Sheinman.
The following spring intramural leagues will start on Monday, April 3:
- Co-Ed Softball: Mon-Fri, 5-7:00 p.m.
- Flag Football: Tuesday's 7-10:00 p.m.
- Wiffleball: Wednesday 8-10:00 p.m.
- Tennis, Racquetball and 4v4 Sand Volleyball are part of the spring tournaments
Contact Andy Dutton for more info and/or to sign up.
Wellesley Centers for Women presents the following Spring Lunchtime Seminars:
- April 6: “Getting to the Heart of the Mentoring Process Between Adolescents and Adults,” presented by Renée Spencer, Ed.D., LICSW
- April 13: “Relational Health for Youth,” presented by Belle Liang, Ph.D.
- April 27: “Peering into the Cracks: Identifying Individuals for Whom Our Statistical Models Do Not Apply,” presented by Allison Tracy, Ph.D.
- May 4: “Update on Same-sex Marriage Project,” presented by the Same-sex Marriage Study Group
All seminars are held 12:30-1:30 p.m. at the Wellesley Centers for Women (828 Washington Street, Wellesley) and are free and open to the public. For more info, visit www.wcwonline.org. Bring your lunch, coffee and tea provided.
Dance to Cajun waltzes and two-steps, enjoy contemporary Cajun dance music and the spicy gumbo of rhythm and blues influenced zydeco music at the Homegrown Coffeehouse, Saturday, April 8, 8:00 p.m. For eighteen years, the Boogaloo Swamis have done more to spread Cajun-zydeco and New Orleans music than any other band in the Northeast. This all-time Needham and Homegrown Coffeehouse favorite is a four-time winner in the Boston music awards. Wear your dancing shoes, and don't miss this great band. General admission is $15 and the student/senior price is $12. Proceeds benefit the church. For more information, visit www.uuneedham.org/Coffeehouse.
April 6-8 the Babson Players will present, Big the musical at 8:00 p.m. at the Sorenson Theater. The musical tells the story of frustrated adolescent Josh Baskin, who wishes he were "big" and then wakes up the next morning a 30-year-old man. He discovers there's much more to being an adult than he's bargained for and learns we must all grow up at our own pace, in our own time. Tickets are $5 in advance and $8 at the door. For more information, visit www.babson.edu/babsonplayers.
The Olin HR/Training Update is now available. This update contains information on BJ and Costco memberships, Yoga classes, faculty research chats, Webster Center news and much more.
Sherra Kerns just led a NEASC team on a joint NEASC—NASAD (National Association of Schools of Art and Design) accreditation visit to RISD (Rhode Island School of Design). Here's her report:
RISD is an awesome institution with inspired students. There are some disputes regarding statistics, but it is clear that of the approx 1900 undergrads, more that 94% of those enrolled graduate from the school. (At first the team didn't believe this number, but we determined that, though the correct number may be higher, 94% is a lowest bound on the figure. They are doing things well on behalf of their students.)
This program is less than one hour's drive from Olin and has much that can inspire us. Their students remind me of Olin students in their passion for excellence in what they do.
Their governance is bold and dedicated to educational excellence, even in times of extraordinary financial pressures that come from their location in more than 35 buildings in a downtown, river-spanning location of very expensive real estate. (Their buildings average > 100 years old and their work involves many fumes, environmentally hazardous materials, etc., requiring complex infrastructure plans.) They have an exceptional faculty that serves without tenure. They used to have tenure but, in a time of turmoil, moved to a unionized faculty. The union negotiates their contract on a 3-year cycle.
The are wrestling with many issues of our day – how do you provide deep, relevant knowledge that respects the educational traditions of an area of study that is becoming ever more complex while also assuring that student know all they should about the frontiers of their fields? Overall, an extremely interesting visit.
“Boston D-Tox Claims To Cleanse Body With Footbath,” CBS4 News (Boston), March 22, 2006
EXCERPT: “I showed the tape of my footbath to Olin College professor Christopher Morse.'There's no way it could clean out the organs,' he said."
In the last issue we asked readers to name at least two of the cities that have been hosting St. Patrick's Day parades for 200 years or more. Boston, New York City, Philadelphia and Montreal were all acceptable answers. Joan Liu was the first to respond correctly and she will receive Olin Gear.
Q: How many different countries have Olin students had an Away expierience in?
A: First person to correctly respond to Jennifer Thomas receives a prize.
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