{"id":59969,"date":"2020-05-06T00:00:00","date_gmt":"2020-05-06T00:00:00","guid":{"rendered":"https:\/\/www.beirut.com\/59969\/president-of-aub-to-students-aub-is-facing-its-greatest-crisis-since-its-foundation-in-1866"},"modified":"2024-02-12T05:53:49","modified_gmt":"2024-02-12T05:53:49","slug":"president-of-aub-to-students-aub-is-facing-its-greatest-crisis-since-its-foundation-in-1866","status":"publish","type":"post","link":"https:\/\/www.beirut.com\/en\/59969\/president-of-aub-to-students-aub-is-facing-its-greatest-crisis-since-its-foundation-in-1866\/","title":{"rendered":"President Of AUB To Students: AUB is facing its greatest crisis since its foundation in 1866"},"content":{"rendered":"In a lengthy email sent out to faculty and staff, president of the <a href=\"https:\/\/www.beirut.com\/l\/754\" target=\"_new\" rel=\"noopener\">American University of Beirut<\/a> Dr. Fadlo Khuri outlined the many hurdles the university is currently trying to overcome. Here is a preview of what he said:<br \/>  <br \/>  <iframe title=\"Embedded Instagram Post\" allowtransparency=\"true\" allowfullscreen=\"true\" frameborder=\"0\" height=\"532\" data-src=\"https:\/\/www.instagram.com\/p\/0a-9eGxRDr\/embed\/\" scrolling=\"no\" style=\"background: white; max-width: 540px; width: calc(100% - 2px); border-radius: 3px; border: 1px solid rgb(219, 219, 219); box-shadow: none; display: block; margin: 12px 0px 12px !important; min-width: 326px; padding: 0px;\"><\/iframe><br \/>  <B>&#8220;I am writing today to tell you that AUB is facing perhaps its greatest crisis since the university&#8217;s foundation in 1866. This is the result of a confluence of calamities, starting with the collapse of the Lebanese economy, now compounded by the COVID-19 pandemic and associated global recession.&#8221;<\/b><br \/>  <br \/>  He describes AUB&#8217;s model as one of &#8220;aggressive growth&#8221; that has now been stunted. He then talks $$. <br \/>  <br \/>  <br \/>  <B>&#8220;For the 2019-20 academic\/fiscal year, AUB&#8217;s projected revenue was approximately $609 million&#8230;for the 2020-21 period, we are projecting all-in revenues of $249 million.&#8221;<\/b>  <br \/>  <br \/>  That is a 60% reduction in revenues, and as he describes are an optimistic assumption based on the hope that the Lebanese pound will stabilize at 3,000 to the dollar, not taking into account a possible haircut imposed on AUB\u2019s bank deposits in Lebanon. <br \/>  <br \/>  <iframe title=\"Embedded Instagram Post\" allowtransparency=\"true\" allowfullscreen=\"true\" frameborder=\"0\" height=\"532\" data-src=\"https:\/\/www.instagram.com\/p\/4BwXQ2RRMC\/embed\/\" scrolling=\"no\" style=\"background: white; max-width: 540px; width: calc(100% - 2px); border-radius: 3px; border: 1px solid rgb(219, 219, 219); box-shadow: none; display: block; margin: 12px 0px 12px !important; min-width: 326px; padding: 0px;\"><\/iframe><br \/>  <b>&#8220;We continue to look everywhere for savings, including a reduction in capital expenditure, travel, and in many other areas.&#8221;<\/b><br \/>  <br \/>  Khuri says the process of finalizing these cuts and budget will be submitted to the Board of Trustees at its June 4-5 meeting, and that he will be sharing the finalized budget with all on June 15th. <br \/>  <br \/>  <iframe title=\"Embedded Instagram Post\" allowtransparency=\"true\" allowfullscreen=\"true\" frameborder=\"0\" height=\"532\" data-src=\"https:\/\/www.instagram.com\/p\/Bwr1u8eFhZf\/embed\/\" scrolling=\"no\" style=\"background: white; max-width: 540px; width: calc(100% - 2px); border-radius: 3px; border: 1px solid rgb(219, 219, 219); box-shadow: none; display: block; margin: 12px 0px 12px !important; min-width: 326px; padding: 0px;\"><\/iframe><br \/>  Khuri ends email by saying, <B>&#8220;[s]aving AUB must be our only priority. And save it we will.&#8221;<\/b><br \/>  <br \/>  Our heart goes out to all students possibly facing tuition increases, and all faculty members possibly looking at any pay cuts. <br \/>  <br \/>  Upon receiving this email, students created some <a href=\"https:\/\/www.beirut.com\/l\/59970\" target=\"_new\" rel=\"noopener\">Hilarious Tweets About AUB Students Transferring To LU<\/a>. Check them out!","protected":false},"excerpt":{"rendered":"<p>In a lengthy email sent out to faculty and staff, president of the American University of Beirut Dr.<\/p>\n","protected":false},"author":0,"featured_media":436075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_preview_accessed":0,"footnotes":""},"tags":[],"media-embed-type":[],"class_list":["post-59969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"authorship":[56],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>President Of AUB To Students: AUB is facing its greatest crisis since its foundation in 1866<\/title>\n<meta name=\"description\" content=\"In a lengthy email sent out to faculty and staff, president of the American University of Beirut Dr.\" \/>\n<meta name=\"robots\" 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