CR Gaz exposes mismanagement at eiu

[MuskieCy]

eiu has had 9X more financial payouts than Iowa State since 2015. The train wreck is ongoing.

https://www.thegazette.com/subject/...irector-resigns-settlement-agreement-20200720

 

[Tri4Cy]

eiu has had 9X more financial payouts than Iowa State since 2015. The train wreck is ongoing.

https://www.thegazette.com/subject/...irector-resigns-settlement-agreement-20200720

"Since fiscal 2015, the board has signed one settlement; UNI has signed 10; ISU has signed 15; and UI has signed 130, according to board records."

 

[Cyfern]

eiu has had 9X more financial payouts than Iowa State since 2015. The train wreck is ongoing.

https://www.thegazette.com/subject/...irector-resigns-settlement-agreement-20200720

Just the tip of the iceberg. This place has been a mess for quite some time. Why doesn't it give up try to be an institution of learning and just play football and treat patients? Don't let UI administrators EVER tell you they are broke. They are just mismanaged.

 

[Althetuna]

I don't understand selling off assets unless U of I is desperate for money. Their long term budget projections must look bleak.

U of I gets:
Upfront payment $1.165 billion which they are using to pay off existing debt and create an endowment ($999 million).

U of I required:
Pay fixed fees ($35 million/year for 50 years)
Pay consultant fees ($13 million)
Continues to pay operating costs
Pay for upgrades to existing facilities

 

[CysRage]

Is any of this tax payer funded? I think I know the answer but this is ridiculous.

 

[MuskieCy]

Thank you for paying attention.

 

[mj4cy]

something something sweep sweep rug rug

 

[RonBurgundy]

"Since fiscal 2015, the board has signed one settlement; UNI has signed 10; ISU has signed 15; and UI has signed 130, according to board records."

 

[JM4CY]

Don’t call it mismanagement when you all will look back someday and see how smart they were.

#doingittherightway

 

[knowlesjam]

Hope it was worth it to average a little more than 7 wins a season...

 

[Althetuna]

Is any of this tax payer funded? I think I know the answer but this is ridiculous.

No, its not. The U of I is projecting the ROI of the new endowment will cover all the cost of this deal plus provide addition funding.

They are projecting a 4% return. Historically they have seen an 8% ROI on their other endowments.

 

[cycloner29]

...and you wonder why people raised red flags when Herrold was hired as president.

 

[JM4CY]

...and you wonder why people raised red flags when Herrold was hired as president.

Raise em all you want. That fine University is known for making nothing but one marvelous hire after another.

 

[RQ4IOWA]

Raise em all you want. That fine University is known for making nothing but one marvelous hire after another.

Leath leaves for Auburn (SEC, SEC, SEC,), Geoffroy now teaches chemistry at ISU, and Jischke moved on to Purdue of the Big Ten. And You are ragging on Iowa’s president hires???

 

[Cyched]

Leath leaves for Auburn (SEC, SEC, SEC,), Geoffroy now teaches chemistry at ISU, and Jischke moved on to Purdue of the Big Ten. And You are ragging on Iowa’s president hires???

Yes, considering we didn’t hire them away from Golden Corral like UI did

 

[MuskieCy]

Another bribe for silence announced today, https://www.desmoinesregister.com/s...-job-under-unexplained-settlement/5489807002/

 

[every_yard]

Iowa’s going to lead the way for schools addressing mismanagement issues.

 

[Pat]

Leath leaves for Auburn (SEC, SEC, SEC,), Geoffroy now teaches chemistry at ISU, and Jischke moved on to Purdue of the Big Ten. And You are ragging on Iowa’s president hires???

Wait, are you arguing Geoffrey was a bad hire because, at age 65, after 11 years, he stepped down and stayed on faculty? I’m certainly not in the weeds of academia but I thought his time at ISU was widely acknowledged as a success.

 

[JM4CY]

Leath leaves for Auburn (SEC, SEC, SEC,), Geoffroy now teaches chemistry at ISU, and Jischke moved on to Purdue of the Big Ten. And You are ragging on Iowa’s president hires???

Barta my friend. Barta. Explain that to me then you can come after Iowa States leadership.

 

[trevn]

Wait, are you arguing Geoffrey was a bad hire because, at age 65, after 11 years, he stepped down and stayed on faculty? I’m certainly not in the weeds of academia but I thought his time at ISU was widely acknowledged as a success.

Troy Aikman was a complete bust because he now works in the booth for NFL games instead of playing QB. Makes total sense.