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"Some college administrators seem so distracted with fund raising, academic infighting, and community initiatives that they set up their emergency communications departments very poorly. Training is poor to nonexistent, secretaries are pressed into service with tremendous responsibilities for running 'notification systems' 24/7 and on weekends because no one else knows how to do it and the administration won’t pay for additional staff. Procedures are seat-of-the-pants and dependent on HIPPO (highest paid person’s opinion), except when something like Virginia Tech happens and there is some sort of scramble to do something different." --Donna
Most Colleges Avoid Risk Management, Report Says
Jill Biden Shines a Global Spotlight on American Community Colleges
Speaking at a Unesco conference in Paris, the vice president’s wife stressed the importance of two-year institutions to the nation’s educational goals.
Connecticut Public Colleges Lose 200 Professors to Early Retirement
Administrators are scrambling to plug holes in their course schedules for fall, with most expecting to do so by hiring more adjuncts or increasing class sizes.
U. of Georgia Paid 2 Fraternities $2.4-Million to Relocate, Contracts Show
The two were among five with houses on property where the university plans to build new academic facilities.
New Allegations in Admissions Controversy at U. of Illinois Suggest Ex-Provost Played a Role
Linda P.B. Katehi, the incoming chancellor of the University of California at Davis, has insisted she knew nothing of the admission of politically connected applicants at Illinois.
Sonoma State U. Foundation May Lose $350,000 on Loan to Former Board Member
The foundation will be forced to issue fewer scholarships in the 2010-11 academic year because of a diminished endowment, a university official said.
College Suspends Student for Working in Gay Pornography | 58
President Obama's Visit to Notre Dame Carries Barely a Hint of Controversy That Preceded It | 58
Drug Sting Nabs 21 Students at U. of Illinois | 57
Faculty Members and Union Protest Staff Layoffs at Temple U. as 'Cruel' | 57
North Dakota Board's Vote Puts 'Fighting Sioux' Mascot on Thinner Ice | 57
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February 5, 2008
Charleston Southern U. Will Pay $3.9-Million to Settle Charges Tied to Former Professor
Charleston Southern University has agreed to pay nearly $4-million to settle allegations that it helped a former economics professor swindle investors out of more than $90-million, the Associated Press reported, citing documents filed today in the U.S. District Court in Charleston, S.C.
The professor, Albert E. Parish Jr., pleaded guilty in October and is awaiting sentencing on federal charges of fraud and lying to investigators.
The settlement, if it is approved by a federal judge, would protect Charleston Southern from further lawsuits as a result of its association with Mr. Parish, a lawyer involved in the proceedings told the AP. The university, which itself has claimed a loss of $8.4-million that it invested with the professor, would waive its claim to damages unless other investors received at least 18 percent of what they had invested, the lawyer said.
Most of the $3.9-million that Charleston Southern has agreed to pay is covered by insurance, leaving $160,000 to be paid out of cash reserves, according to the AP. University officials declined to comment on the agreement, but have denied knowing of any fraudulent activities by the professor. —Charles Huckabee
Posted on Tuesday February 5, 2008 | Permalink |Comments
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The university invested its endowment with one of its employees???? Isn’t this why conflict of interest rules exist? What planet is this university on?
— marci Feb 6, 11:31 AM #
It is not certain that there was a conflict of interst: may be the university interest was the fraud, who knows?
— Michael Pyshnov Feb 6, 12:35 PM #