50-60 Million Loss....

Discussion in 'GarryP's Trojan Huddle' started by STRECKERmemo, Aug 13, 2020.

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  2. SC87

    SC87 Points Member


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    #2
    Hard to shed any salty tears for the greedy and corrupt members of academia. Let them eat cake or maybe work more than two hours per week. So sad.
     
  3. AnArchitect

    AnArchitect Points Member


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    #3
    You mean the administrators, right?

    I'm a professor and I've never put in a week less than 60 hours - including this summer where I was not even teaching but was doing my research and developing new classes - all unpaid. When classes are in session, I work 7 days a week.

    Also, lots of fine folks are staff at these institutions. They're just honest, hard working wage workers. What'd they ever do to you?
     
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  4. CFB Fan

    CFB Fan Junior Member


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    #4
    I went and looked up Utah's athletic budget:

    https://utahutes.com/documents/2020/1/21//FY19_NCAA_Revenue_Expense_Report.pdf?id=23039

    I think the quote of $50-$60MM loss reflects just the revenue side. It does not reflect the avoided expenses of not having a football season. Assuming no lay-offs, I tallied at least $11-$12MM in avoided expenses. Interestingly, athletic scholarships total $12MM department wide, while coaching salaries totaled over $19MM.
     
  5. Trojack

    Trojack Junior Member


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    #5
    I can vouch for that. Even as a lowly adjunct for many years, I know I earned my keep. In fact, when you take into account commuting and actually designing the class and then keeping the information current, I lost money on the deal compared to my regular job.
     
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  6. SC87

    SC87 Points Member


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    #6
    There is no more corrupt and lazy group than academics who have embedded themselves at these universities doing almost nothing. "Research" and "teaching" a few days a week then off on sabbatical for the summer. Must be exhausting. Even in those limited capacities most have teaching assistants to do anything that constitutes actual work. Granted, the administrators are even worse. I'll save my sympathy for the students who are gouged out of hundreds of thousands dollars as part of this fraud. The one good result from the virus is that there is going to be a sea change in how parents and students spend their education money in the future. The party is almost over.
     
  7. silversprint

    silversprint Junior Member


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    #7
    May at another school. Not for SC.

    There are a hundred kids lined up to the the spot of a student that complains about the tuition.

    People are literally going to jail for paying hundreds of thousands of dollars just to get their kids into SC and you think SC will have a problem filling a class.

    It's not the degree but the prestige they are paying for.
     
  8. silversprint

    silversprint Junior Member


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    #8
    $60 million is not bad, specially if that is pre expenses. SC cancelled all fall sports mean all the other sports they spend money that brings in no revenue.

    They will call it a tax loss and move on.

    With N&L right around the corner most of these over bloated athletic programs are going to have a loss in revenue anyway.
     
  9. AnArchitect

    AnArchitect Points Member


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    #9
    Nice straw man you have there.
    Such a shame beating up on him wouldn't get you through Writing 140 though.
     
  10. AMLTrojan

    AMLTrojan Junior Member


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    #10
    Supposedly part of the reason for cancelling the season had to do with demands from players about signing liability waivers. I'd have to imagine the calculated legal damages from players (or close family of players) contracting COVID-19 as a result of athletic activities would be far less than $50M.
     
  11. silversprint

    silversprint Junior Member


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    #11
    If you add up all the legal money SC has to pay people, it's getting close to $350M.

    That's a lot of football coaches.

    Problem with no liability waivers is SC's liability insurance won't cover any damages or legal fees.
     
  12. PacTrojan

    PacTrojan Junior Member


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    #12
    This costs also doesn’t include the expenses from LA Coliseum operations by USC which are approximately $20 million a year.
     
  13. ForwardUntoDawn

    ForwardUntoDawn Points Member


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    #13
    Not to mention the students who want to talk for an hour after class while asking no questions due class.

    Adjuncts get screwed
     
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  14. TroyCAM

    TroyCAM Junior Member


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    #14
    Such an dim post is actually quite hard to rationally respond too. For example, take TAs (teaching assistants). That was a 20th century model for giving graduate students a 50%, 20 hr/week stipend in exchange for work they did under faculty supervision (more work for the faculty) in order to gain some teaching experience. Most TAs taught laboratory or recitation sections. With the exploding costs of government mandated benefits to salary, use of TAs was abandoned by Universities during the first decade of the 2000s in exchange for the current non-benefit, part-time faculty adjunct (FA) model.

    Next "summer sabbaticals". More dinosaur cognition. Universities moved quite some time back to offering both tenure track and contract faculty nine-month or academic year appointments. For all the Einsteins, that's salaried pay for only nine months. Finding pay for the remaining 3 months during the summer to supplement a 9/12th's salary is a scramble for nearly all faculty.

    During my 30-year career as a full-time, nine-month appointed PAC 12 professor, I rarely, almost never, have worked less than 50 to 60 hours a week even while unpaid during the summer.

    One thing though, I will agree with 87 regarding the explosion of administrative VPs. That's bloat at universities that theoretically could be trimmed in a big way if we weren't such as litigious society and didn't have Obama distort Title 9 forcing Universities into having a myriad of compliance and HR divisions. I'll also vouch for adjunct Trojack; faculty adjuncts of courses, particularly those with enrollments greater than 40, are getting screwed.
     
    Last edited: Aug 15, 2020
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  15. AnArchitect

    AnArchitect Points Member


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    #15
    Administrative bloat is real. I heard (sorry, can't find the source) that USC, for example, had grown its student body by 30% over the last ... I think it was 30 years. The number of admins, however, had increased more than 100%.

    And over the same period, the share of credit hours taught by adjuncts had increased from 33% to 70%. Universities had followed business to be about wage expropriation, more than anything.

    These are related problems.
     
  16. silversprint

    silversprint Junior Member


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    #16
    That because USC is not just a University any more.

    USC makes most of it's money from healthcare. It's non academic business has grown considerably in the past 30 years.
     
  17. Trojack

    Trojack Junior Member


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    #17
    True that. One of the reasons why Folt's resume looked so good to the BOT was that she also ran the UNC Health Care System.
     
  18. PacTrojan

    PacTrojan Junior Member


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    #18
  19. silversprint

    silversprint Junior Member


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    #19
    USC is one of a small number of premier research institutions on
    which the nation depends for a steady stream of new knowledge,
    innovations and discovery. USC is ranked second in the nation among
    all universities in the size of its federally funded computer science
    research program and has the largest graduate program in science,
    engineering and health of all research universities.
     

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