The University announced Wednesday that Executive Vice President Stephen Golding has resigned from his role as the overseer of finance and administration. Come July 31, he will move to a new role as senior consultant to President David Skorton, where he will advise the president on Cornell's role in the Upstate New York economy. Golding has served as the executive vice president since April of 2005.

Golding told the University: "It is even more essential today than ever before that we develop effective strategies to leverage the positive role they can play in promoting the New York state economy in the coming decade."

WASHINGTON (AP) — Jim Johnson, a manager of Democrat Barack Obama's vice presidential search team, resigned Wednesday amid criticism over his personal loan deals.

"Jim did not want to distract in any way from the very important task of gathering information about my vice presidential nominee, so he has made a decision to step aside that I accept," Obama said in a statement. "We have a very good selection process under way, and I am confident that it will produce a number of highly qualified candidates for me to choose from in the weeks ahead. I remain grateful to Jim for his service and his efforts in this process."