From today's Wall Street Journal article "How to Succeed in Teaching Without Lifetime Tenure
: The Franklin W. Olin College of Engineering attracts 140 applicants for every faculty position. And they can even be fired" (paid subscription may be required to view full article, but see first comment below):
"Franklin W. Olin College of Engineering in Massachusetts is showing what's possible when a school sheds tenure, one of the most antiquated and counterproductive employment policies in the American economy. Instituted at a time when people in most professions remained in the same job for life, tenure today is an economic anomaly. The policy protects laziness and incompetence — and rewards often obscure research rather than good teaching."