When we introduced Deans Digest in 2003, it was with the intention of speaking directly to you about issues that affect your decisions as leaders. In these often unpredictable waters, we understand that those at the helm often need more substantive—and substantiated—news than the commercial media can provide.

Thus, in this issue of Deans Digest, we bring you our fact-based analysis of a subject we know many of you are concerned about—application volume. I invite you to read "Where Have All the Applicants Gone?" for a better understanding of the factors affecting application volume. You will notice we have provided a more detailed version of the article in PDF form (the "director's cut," if you will). We hope you will share the PDF with your staff and colleagues.

I also invite you to join us at the GMAC® Annual Industry Conference in Boston, Mass., from June 17 to 19. (Click here for details, or visit the Career Development section of www.gmac.com.) The theme of the conference is "Leaders in Concert," emphasizing harmonious cross-functional leadership at business schools. You are welcome to join us for the entire conference, a few sessions, or the keynote presentations, which will be given by Jim Collins, author and management researcher, and Benjamin Zander, author and faculty member at the New England Conservatory. I hope you will take advantage of this excellent opportunity to meet and network with colleagues from all over the world. Please encourage your staff to attend, as well. We hope to see you all there.

David A. Wilson
President and Chief Executive Officer