CLEO III, A Dectector To Measure Rare $B$ Decays and CP Violation

The symmetric $e^+e^-$ collider CESR is undergoing a series of upgrades allowing for luminosities in excess of $2\times 10^{33}$cm$^{-2}$s$^{-1}$. The most important goals of the upgrade are precision measurement of standard model parameters $V_{cb}$, $V_{ub}$, $V_{td}/V_{ts}$, $f_{D_s}$, and searching for CP violation and standard model violations in rare $B$ decays. A new detector upgrade, called CLEO III, has started which includes a new silicon-wire drift chamber tracking system and a Ring Imaging Cherenkov Detector, RICH, using a LiF radiator and CH$_4$-TEA gas based photon detector.