Category Archives: Finance

The money that makes academe tick.

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Chicago State U. Lays Off One-Third of Staff

Emergency funds approved last week by Illinois lawmakers after public colleges had gone almost the whole academic year without state money did not avert layoffs at Chicago State University, which let go more than 300 employees on Friday, the Chicago Tribune reported. That number represents one-third of the university’s staff. No faculty positions were affected — in this round of cuts, Chicago State’s president, Thomas J. Calhoun Jr., told the Tribune.

Illinois’s state-budget impasse has hit Chi…

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U. of New Hampshire Concedes It Shouldn’t Have Bought $17,000 Table

Its flashing LED-light display may make it look like a dance floor, but the University of New Hampshire’s flashy dining table is for culinary purposes only.

Still, that hasn’t stopped critics from walking all over the university’s $17,570 table, which it bought so dining-hall workers could showcase healthy cooking tips to students, The Boston Globe reported on Friday. It turns out that diners weren’t paying as much attention to the slicing and dicing as they were to the table itself.

Its price t…

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Budget Cuts Prompt U. of North Dakota to Eliminate More Than 100 Positions

The University of North Dakota will cut 138 positions, including 51 on the faculty, in response to state budget retrenchment, the Associated Press reported on Thursday.

The institution’s interim president, Ed Schafer, announced the cuts at Thursday’s meeting of the state’s Board of Higher Education. The university, in Grand Forks, faces a $21.5-million reduction, the AP reported.

Earlier this month the university announced it would eliminate its men’s golf and baseball programs because of the bu…

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Legislators Approve $600 Million to Help Illinois Colleges Stay Afloat

Illinois state lawmakers have approved $600 million in short-term higher-education funding to keep public colleges and universities operating during the state’s budget deadlock, the Associated Press reports.

Illinois’s public colleges and universities have gone without state funding for more than nine months, and their leaders have pleaded with politicians to come to an agreement to avoid more financial fallout. Several institutions have resorted to layoffs and other cuts to make ends meet.

The …

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After Reports of Pricey PR Push, Lawmakers Ask UC-Davis Chancellor to Resign

Three California state lawmakers called on the chancellor of the University of California at Davis, Linda P.B. Katehi, to resign on Thursday, The Sacramento Bee reports, citing her effort to remove unflattering Internet posts about a campus police officer’s pepper-spraying of student protesters five years ago.

Ms. Katehi came under fire after a report surfaced on Wednesday that the institution had spent at least $175,000 on public-relations consultants to scrub online references to the pepper-sp…

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Career College With Several Midwestern Campuses Will Close

The Kansas-based Wright Career College is shutting down all of its campuses, reports The Kansas City Star. The campuses are located in in Overland Park and Wichita, Kan.; Omaha, Neb.; and Oklahoma City and Tulsa, Okla.

The college sent the news to students by email on Thursday evening, expressing “deepest regret” and telling the displaced students that their credits would be accepted by other colleges and universities. The Overland Park campus had roughly 3,000 students last year but had stoppe…

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Missouri’s R. Bowen Loftin Doesn’t Really Have a Job — but He’s Still Getting Paid

When he stepped down as chancellor of the University of Missouri at Columbia last year, R. Bowen Loftin made it clear that he wasn’t going away. “I am excited for my new challenge to lead the university’s research-facility development,” he said in a statement in November. His transition agreement, published by the Columbia Daily Tribune, enumerates two new positions for Mr. Loftin — director of research-facility development and director of research at the Tiger Institute for Health Innovation.

M…

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Citing Improper Spending, Board May Fire Lake Michigan College President

The president of Lake Michigan College, Jennifer Spielvogel, has been suspended, and may be fired in 30 days, after the community college’s Board of Trustees said it had found evidence of unapproved spending and improper management, reports The Herald-Palladian.

The board enumerated the following factors as reasons for its actions: “inadequate goals and objectives, unapproved and unauthorized costs expensed to the college, policy violations, renovations to the president’s office, her planned i…

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Students From UMass and Harvard Are Arrested in Protests Over Fossil-Fuel Divestment

About 15 protesters were arrested on Tuesday night after refusing to leave the Whitmore Administration Building at the University of Massachusetts at Amherst. The protesters, who have called on the university system to divest holdings in fossil-fuel companies, began their sit-in on Monday morning, according to the Daily Hampshire Gazette.

The protesters called for Martin T. Meehan, the university’s president, and Victor Woolridge, its Board of Trustees chairman, to commit to full fossil-fuel div…

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Facing Financial Woes, Berkeley Will Eliminate 500 Staff Jobs

The University of California at Berkeley will eliminate 500 staff positions over the next two years in an attempt to balance its budget, reports the San Francisco Chronicle.

Faculty jobs will not be affected, according to the newspaper. In a memorandum cited by the paper, the university’s chancellor, Nicholas B. Dirks, said eliminating the positions would save an estimated $50 million.

The move, a roughly 6-percent reduction in Berkeley’s staff, is its latest effort to restore financial stabilit…