Graduation 2008?
Michael is stressed about his job search - as in it has halted. He is even in limbo with Texas Tech. They have two positions open and have begun their own recruiting process. Therefore we are waiting to hear on their progress in filling a Faculty - tenure tract positions.
If they are not able to fill both, then Michael can be an instructor.
If they are able to fill both positions, then Michael can stay for a 5th year in the PhD program.
Obviously we'd rather the instructor position as he'd make more money and we wouldn't have to take out more student loans. Yes, that means we'll be in Lubbock for another year. Yes this makes the timing of a new baby separate from selling our house, finding a new house, moving, new job, new school, etc. It isn't a bad thing.
Graduation will NOT be May 11, 2007 for Michael. I have canceled the hotel reservations we made in preparations. They have been booked for 3 months - so they were happy to have rooms available again. We do not know yet if it will be August 11, 2007 or not. It will depend on the instructor's position.
If he is a 5th year PhD student - he can defend his dissertation this summer and postpone graduation until 2008. They are very separate events apparently. I thought that once he defended then he'd have to graduate. Nope. He can enroll in independent studies, research projects, etc. with faculty and continue to publish. Defending his dissertation however would be behind him and he becomes a much more attractive job candidate.
I will keep you posted as things develop.

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