[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 14:06:08 02/24/03 Mon
Author: Lou
Subject: Re: No $$$ to buy out Hicks... NEWS
In reply to: MJF '95 's message, "Re: No $$$ to buy out Hicks... NEWS" on 11:56:24 02/24/03 Mon

>Lou, we need a full report on your meeting with
>Ridley. It sounds like the college may have bigger
>problems than hoops.

I don't have that many more details. He spent 25 minutes talking about all of the programs they were starting, and mentioned in passing that the economy has taken its toll. So during the Q&A I asked what the endowment was, and, whether any of the current capital campaign is earmarked specifically towards growing the endowment. (It followed puff questions about whether it should be Loyola College or Loyola University and one about the new lax stadium. Needless to say I probably won't be invited back.)

The response was that the endowment, predictably, has fallen along with the stock market. The high was $180m, and it is now about $130m. He then rambled about how important some of the programs they are doing are, like extending fresh. orientation all year long and starting soph. orientation to help those who are close to failing out. In passing he mentioned that the last few years, due to cutbacks from the state and less dividend income from the endowment, the college has had to tap the endowment to break even.

Honestly look at your brokerage statement and you will know that most of the loss is likely a paper loss, and not the college eating into 1/4 of its endowment. And for the most part I applaud him: the endowment is there to make sure programs do not have to be cut when times are not good. Maryland is apparently for the 3rd straight year cutting the aid it gives to colleges, making the budget harder to balance. So I don't think there is a crisis. But back to Macdog's original post, this does not appear to be a climate where you pay 2 head basketball coaches.

[ Next Thread | Previous Thread | Next Message | Previous Message ]


Post a message:
This forum requires an account to post.
[ Create Account ]
[ Login ]
[ Contact Forum Admin ]

Forum timezone: GMT-5
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.