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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
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.
Court Overturns $2-Million Verdict for Former Coach at U. of Louisiana-Lafayette
The coach, one of the few African-Americans in big-time college football, was fired after three losing seasons. He sued, saying he had been dismissed because of his race.
The notorious vermin have forced Colorado State University at Fort Collins to cancel its annual Great Sofa Roundup, which allows students to donate unwanted couches.
Water-Main Break Damages Library at University in St. Louis
Summer classes at Harris-Stowe State University resumed today, but the library remains closed.
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 6, 2008
Key Lawmaker Retreats From Plan to Regulate College Endowments
Washington — Sen. Charles E. Grassley, who had been pushing a controversial plan that would require colleges to pay out more of their endowment assets every year, backed off that idea on Tuesday, according to the Reuters news agency.
The recent moves by Harvard University, Yale University, and other wealthy institutions to commit more of their endowment earnings to student aid has “slowed the push” for legislation, Mr. Grassley, the top Republican on the Senate Finance Committee, said at a gathering sponsored by Reuters.
“The possibility of legislation is out there,” Mr. Grassley said. “I haven’t given up on legislation. But I’ve slowed the push.” —Brad Wolverton
Posted on Wednesday February 6, 2008 | Permalink |Comments
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Too bad Grassley and other legislators fail to realize that financial aid schemes to help the upper middle class don’t put these behemoth public charities anywhere near a justification for their tax-exempt status. The gestures offered by Harvard, Yale, and the other leviathans benefit a tiny minority of families who are already gorging on plenty of gov’t-sponsored free lunch. We need to impose a modest tax on exploding endowments, and this money should be used to establish and sustain a general fund for public higher education. The tax could be imposed only on educational endowments of 1 billion or more, and even if it were a pittance (.05%), it would add up to a fortune for the public colleges and universities that are starving while so-called charities rake in billions from hedge funds and other alternative investments.
— SG Feb 6, 06:07 PM #