Financial Distress Paper Essay Example for Free

Financial inconvenience Paper EssayThe current global economic crisis has seriously abnormal the financial activities of my academic institution. One of the major presenters for our business school, a bank, has pulled out and is currently facing charges of geological fault federal banking regulatory laws. All indications be that the bank will go under and will waste to file for protection under chapter 11. With this conduit of funds no longer there, the business school will switch to restructure.There be five programs currently in place at the business school, three of which are involved in teaching and research. They have been in existence for the last thirty years. As the channelize of faculty for the business school, I will recommend to the long range planning committee that the restructuring be directed at the other two programs. These are recently introduced graduate management courses, whose students, totaling fifty in number, can be gradually absorbed within the other graduate business courses.The cuts will and so have to be effected within the faculty staff of the two programs being phased out. All kick upstairs and non-tenured faculty staff will receive a wiz year termination nonice with abundant severance benefits. Since their total combined yearly compensations is about as much as lost donor funding, the scaled down business school will be able to survive until other avenues are found to fund new programs. These recommendations will be made based on the need to defend teaching and research as a priority.Students who are currently enrolled in all programs will not suffer as they will be retained to continue learning within the existing programs. Additionally, the suppression will not be abrupt, but will be implemented over the course of one year, giving affected faculty staff ample time to appeal or seek positions elsewhere. Distress Paper 2 References Senate of Michigan Technological University (1985, May). UNIVERSITY RETRENCHMEN T POLICY. Retrieved August 1, 2009 from http//www. sas. it. mtu. edu/usenate/propose/80-89/7-85. htm