This report summarizes the key discussions of a Conference of Directors of Carnegie-Funded Time-Shortened Baccalaureate Programs. Discussion centered on five major concerns, the nature of the baccalaureate; time shortening: where, when, and how; financing higher education; evaluation; and the dynamics of change. The report suggests that a number of institutions are beginning to make significant progress in the development and implementation of programs aimed at testing the viability of time shortening. (MJM)