"The objective I've been given is, we need to be cost-effective," said Loftin, sporting one of his trademark bow ties, a maroon one. "We need to anticipate that the economic situation we're in now will not improve that quickly. So it makes sense for us to very quickly examine our own costs and our structures to make sure we do things as efficiently as possible."
President Loftin is the right man for the job, based on his experience in Galveston.
Ross Margraves Jr. -- who was convicted of felony misconduct more than a decade ago for his actions as a Texas A&M University Regent and later pardoned -- has been recommended for a board position at the system's Galveston branch.
Margraves was recommended for the position by R. Bowen Loftin, the Galveston branch's chief executive officer and vice president.
Anyone who's ever watched the Rockford files knows what a great job a pardoned felon can do.