MIT Reports to the President 1997-98
The Secretary of the Corporation serves as the Corporation's Recording Officer and as joint signatory with the President in the awarding of academic degrees. The Office of the Secretary of the Corporation is responsible primarily for providing support to the Institute's governing board and to 27 Corporation visiting committees.
On September 25, 1997, an orientation program was held for new members of the Corporation. In the evening, new members and their spouses and guests were joined by members of the Executive and Membership Committees for a reception and dinner.
At the annual meeting on September 26, 1997, new members were introduced. The Corporation approved the action of the President in the awarding of September degrees, and voted to approve the list of nominated members of the visiting committees and the Corporation Development Committee. Howard W. Johnson transferred to the status of Life Member Emeritus. Members approved the Annual Report of the President, and heard additional reports from the Treasurer, the Vice President for Resource Development, and from the chairs of the Auditing Committee, Membership Committee, Salary Subcommittee of the Executive Committee, and three visiting committees.
At the meeting on December 5, 1997, it was announced that the new complex to house teaching and research programs in Computing, Information and Intelligence Sciences will be named to honor Life Member Raymond S. Stata and his wife, Maria. Members heard reports from the President, the chairs of the Community Service Fund, Membership Committee, and four visiting committees. Following the meeting, members attended a reception at the Tang Center recognizing Corporation member Elliot K. Wolk for his generous support of the visual arts at MIT.
On March 6, 1998, the Corporation approved the action of the President in the awarding of February degrees. Memorial resolutions were presented honoring Life Member William J. Weisz. Reports were presented by the President, the President of the Association of Alumni and Alumnae, and by the chairs of the Corporation Joint Advisory Committee on Institute-Wide Affairs, Membership Committee, Screening Committee, and four visiting committees.
The final quarterly meeting of the academic year was held on June 5, 1998, prior to Commencement exercises, at which the speakers were The Honorable William Jefferson Clinton, President of the United States, and Dr. David Ho, world-renowned AIDS researcher and graduate of the Harvard/MIT HST program. The Corporation approved the action of the President in the awarding of June degrees, and approved the establishment of a new Master of Engineering degree in Ocean Engineering, and a Master of Science degree in Comparative Media Studies. The Corporation elected new Corporation members, members of the standing committees and committees of annual recurrence, chairs of the visiting committees, and members of the Corporation Development Committee. Resolutions were read to honor five members completing their terms of service on the Corporation. Members heard reports from the President and the chairs of the Membership Committee, Screening Committee, and three visiting committees. Corporation members participated in the academic procession to Killian Court for Commencement exercises, with Dr. Mary Frances Wagley serving as Corporation Marshal.
Completed Service Effective June 30, 1998: Lawrence A. Hough, Brian G.R. Hughes, John A. Morefield, Kenichi Ohmae, Darcy D. Prather.
Leave Of Absence: Shirley A. Jackson, Life Member, Leave Of Absence For Government Service Continued.
Elected To A Five-Year Term Effective July 1, 1998: Norman R. Augustine, Gerald J. Burnett, Glen V. Dorflinger, John W. Jarve, Ronald A. Kurtz, Robert M. Metcalfe, Leslie Tang Schilling, Anthony Sun, Matthew J. Turner.
Elected Life Member Effective July 1, 1998: William S. Edgerly, David H. Koch, Patrick J. Mcgovern, Robert A. Muh, Richard P. Simmons.
Ex Officio Member For One-Year Term Effective July 1, 1998: John A. Morefield, 1998-99 President Of The Association Of Alumni And Alumnae Of MIT.
Transferred To Life Member Emeritus: Howard W. Johnson (September 1997).
William J. Weisz (December 17, 1997).
D. Reid Weedon, Jr., continued as Chair of the Advisory Committee On Shareholder Responsibility, with Vice President and Treasurer Glenn P. Strehle serving as an ex officio member. The committee membership included Senior Vice President William R. Dickson as well as faculty and students. Elizabeth T. Harding provided staff support.
The committee met once on April 21, 1998, and conducted telephone polls on February 4, 1998, March 31, 1998, and May 1, 1998. Members voted on 21 resolutions submitted to 13 companies, the stocks of which are held by MIT in its general investments. Issues were spread across a broad spectrum of topics that included the environment, human rights abroad, military contracts, nuclear power, and political contributions. Compared to last year, the number of resolutions increased by four, and the number of companies involved increased by three.
Meetings held on September 25, 1997, and March 5, 1998, were attended by Auditing Committee members; representatives from Coopers & Lybrand, MIT's independent public accountants; and by MIT Audit Division and Finance personnel and other invited members of the MIT administration.
Discussed at the fall meeting were financial statements for Fiscal Year 1997, the auditing inputs from the Institute's internal staff, Coopers & Lybrand, and responsible Government agencies, and the certification and pro-active management letter from Coopers & Lybrand. The spring meeting focused primarily on audit plans, on the progress of continued efforts regarding Year 2000 issues, and on the status of the SAP financial system roll-out.
Corporation Joint Advisory Committee On Institute-Wide Affairs (CJAC)
CJAC held a dinner meeting on December 4, 1997, to which a number of student guests were invited by faculty and student members of the Committee. A roundtable discussion centered on the binge drinking tragedies of the fall of 1997. Other discussion topics included issues of diversity and race relations, residential life, student/faculty relationships, suggestions for the use of the Student Center, and changes in the freshman orientation program.
A second meeting was held on March 6, 1998, to discuss progress in increasing racial and gender diversity in the faculty and student body. Attending the meeting as guests of CJAC were Alex d'Arbeloff, Chairman of the Corporation; Kathryn A. Willmore, Secretary of the Corporation; Professor Ellen T. Harris, Co-Chair of the Committee on Campus Race Relations; and Judy Jackson, Intern in the Office of the Provost.
Development Committee is covered in the annual report of the Vice President for Finance and Treasurer.
During the past year the Executive Committee held ten meetings. Its agenda included such topics as new directions in education and research; student life and the campus environment; external relations and the sponsorship of research; budgeting, financial planning, and the management and enhancement of resources; and changes in the senior administration. One meeting was held at Lincoln Laboratory and provided an opportunity for members to speak with Laboratory leadership and review major ongoing projects.
The Investment Committee held three regularly scheduled meetings during Fiscal Year 1998. The Wellington Management Company of Boston remained the primary investment manager and advisor for publicly traded securities, both domestic and international. The Institute continued the program of equity investments in smaller capitalization companies, managed by four other investment management firms. The program for domestic and international alternative investments to publicly traded securities has been expanded. These alternative investments - including venture capital, private capital, real estate, event arbitrage, and distressed debt - are typically managed by several investment managers through pooled investment funds.
The Membership Committee held three meetings during the academic year to discuss matters concerning membership on the Corporation, and nominations to various Corporation standing committees and committees of annual recurrence.
The Corporation Screening Committee for Nomination of Recent Graduates held an open meeting for students on September 25, 1997. Two teleconferences were held in January and February 1998. The committee selected nine nominees for the ballot from a group of 59 candidates. Matthew J. Turner received the nomination and was elected to serve a five-year term on the Corporation.
Fourteen visiting committees convened during the academic year 1997-98: Aeronautics and Astronautics; Architecture and Media Arts and Sciences; Athletics, Physical Education, and Recreation; Dean of Students and Undergraduate Education; Earth, Atmospheric, and Planetary Sciences; Linguistics and Philosophy; Materials Science and Engineering; Mathematics; Mechanical Engineering; Nuclear Engineering; Sloan School of Management; Sponsored Research; Urban Studies and Planning; and Whitaker College.
In 1997-98, the Institute's 27 visiting committees were comprised of 394 persons and 492 membership positions: 63 Corporation members filled 153 slots; 180 presidential nominees filled 186 slots; 151 alumni nominees filled 153 slots. (Four people each filled both a presidential nominee slot and an alumni nominee slot.)
Women comprised 23 percent of the visiting committee membership, and minorities 15 percent; 68 percent of the members were affiliated with corporations, 31 percent with academia, and one percent with government and foundations.
Del Ray Cross joined the Corporation Office on February 20, 1998, as Administrative Assistant, and Michelle D. Hinkle was hired on May 1, 1998, as Senior Staff Assistant.
Kathryn A. Willmore
MIT Reports to the President 1997-98