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  1. Default OU President Gallogly

    Yikes. In one of Jim Galogly's private speeches he mentioned that Boren did a great job of raising funds to build up the campus but that he didn't come up with the revenue streams to operate and maintain all the campus additions and that one of his primary directives would be to build up funding for that purpose. Based on that, I knew there were definitely some funding issues, but I had no idea it was this bad. The board of regents' selection of a business person who transformed a large bankrupt company into a successful one over someone from academia or another field is starting to make a lot more sense. What a mess.

    https://newsok.com/article/5598666/u...operating-cash

  2. #2

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    We've gone through a decade of austerity where higher education is concerned. We have an electorate which questions the need for us to fund higher education whatsoever. Higher education needs to sell its value to the public--particularly the non-college-educated public. I would imagine the financial outlook of other universities is similar or worse. I've seen a lot of construction on campuses over the last decade. It sure seems problematic to be adding those new facility costs amid funding cuts.

  3. #3

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I can speak on the faculty raises... I worked there from 2005 to 2012 and never received a single raise. I hope he can turn it around and put the money where it needs to be, rather than just deciding to keep raising tuition, like what has been done

  4. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by jedicurt View Post
    I can speak on the faculty raises... I worked there from 2005 to 2012 and never received a single raise. I hope he can turn it around and put the money where it needs to be, rather than just deciding to keep raising tuition, like what has been done
    He said in the article that he plans to figure out funding sources that don't put the additional cost on the students, so hopefully that happens.

  5. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    I have to believe a review of salaries of professors in excess of $250,000 annually might want to be reviewed. I was absolutely stunned when I saw the list of profs *in one college alone* within OU drawing that kind of money.

  6. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by SoonerDave View Post
    I have to believe a review of salaries of professors in excess of $250,000 annually might want to be reviewed. I was absolutely stunned when I saw the list of profs *in one college alone* within OU drawing that kind of money.
    I can think of at least a few long tenured professors that I had during my time at OU who, based on effort, absolutely did not deserve the six figure salary they were undoubtably making. Achieving tenure unfortunately seems to make some professors way too complacent over time.

  7. #7

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by SoonerDave View Post
    I have to believe a review of salaries of professors in excess of $250,000 annually might want to be reviewed. I was absolutely stunned when I saw the list of profs *in one college alone* within OU drawing that kind of money.
    And what do you want to bet many of these profs donít do much, or any, professing. Most of it is done by TAís and graduate students it seems.

  8. #8

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by SoonerDave View Post
    I have to believe a review of salaries of professors in excess of $250,000 annually might want to be reviewed. I was absolutely stunned when I saw the list of profs *in one college alone* within OU drawing that kind of money.
    Where did you see this list and what specific college were you refering to?

  9. #9

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by SoonerDave View Post
    I have to believe a review of salaries of professors in excess of $250,000 annually might want to be reviewed. I was absolutely stunned when I saw the list of profs *in one college alone* within OU drawing that kind of money.
    Where did you see such a list? The only list I've seen with something even close to this showed several sub-specialty surgeons at the medical school making more than $250K. Given they are still making less than they would in private practice, and that their salaries are almost completely funded with the clinical revenue they generate, it is not stunning or inappropriate. If you want to have a quality medical school with effective faculty they have to make somewhere at least in the ball park of what they would make in practice.

    cheers

  10. #10

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by whoeveriam View Post
    Where did you see such a list? The only list I've seen with something even close to this showed several sub-specialty surgeons at the medical school making more than $250K. Given they are still making less than they would in private practice, and that their salaries are almost completely funded with the clinical revenue they generate, it is not stunning or inappropriate. If you want to have a quality medical school with effective faculty they have to make somewhere at least in the ball park of what they would make in practice.

    cheers
    I asked the same thing when he posted that comment but he never answered

  11. #11

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    This may help to explain why they chose him -- a businessman, not an academic or politician -- to be the new head of the university.

  12. Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by Pete View Post
    This may help to explain why they chose him -- a businessman, not an academic or politician -- to be the new head of the university.
    No doubt.

  13. #13

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Galogly has a history of large financial support to the university, and of managing successful turnarounds. He’s the perfect guy to ask others to financially support his plans to turn around OU.

  14. #14

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    this is because the jackass Borens had access to the checkbook, maybe if Molly didn't have to make every single construction project infinitely more expensive this wouldn't have happened

  15. #15

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Kind of appropriate to post this here, apologies if not. Quite an interesting, if depressing, read, read it a while back, was saving it for posting somewhere...

    https://junctrebellion.wordpress.com...ty-was-killed/

  16. #16

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Aarrgh. Wrong line. Sorry. Disregard.

  17. #17

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    It will be a tightrope walk to review salaries while being able to attract quality professors. You can't have a great educational institution without decent pay. Often, certain quality professors may be there for research or graduate -level coursework rather than teaching undergraduates.

  18. #18

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Plenty of overworked and underpaid professors at OU too. I know many faculty in education — not the biggest money maker — and they are certainly underpaid. Just pointing it out as a contrast to any overpaid profs.

  19. #19

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    This is just one case. Higher ed in general is bloated and anyone who follows campus SJW culture knows that rather dumb/gullible young people are going into massive debt for degrees that are worth nothing in the real world. For christ sake you can't even have opposing or controversial viewpoints on certain ivy league campuses now. Defund it all, let it crash, and then let it attract the people who want to go there for the educational experience and not just a 4-8 year pause from having to get a real life with real problems.

  20. #20

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by skwillz View Post
    This is just one case. Higher ed in general is bloated and anyone who follows campus SJW culture knows that rather dumb/gullible young people are going into massive debt for degrees that are worth nothing in the real world. For christ sake you can't even have opposing or controversial viewpoints on certain ivy league campuses now. Defund it all, let it crash, and then let it attract the people who want to go there for the educational experience and not just a 4-8 year pause from having to get a real life with real problems.
    OK. That's full of broad strokes and assumptions. I'm certainly no SJW, but I know that controversial political activity on campus has been going on since the term campus was coined at Princeton in the 18th century. I don't want to be argumentative, but why in this thread, skwillz? It seems right in line with what we are becoming as people.

    I think Galogly is the right person at just the right time. I hope he can turn this rather sobering news around.

  21. #21

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by skwillz View Post
    This is just one case. Higher ed in general is bloated and anyone who follows campus SJW culture knows that rather dumb/gullible young people are going into massive debt for degrees that are worth nothing in the real world. For christ sake you can't even have opposing or controversial viewpoints on certain ivy league campuses now. Defund it all, let it crash, and then let it attract the people who want to go there for the educational experience and not just a 4-8 year pause from having to get a real life with real problems.
    First, college debt is largely a function of faltering public support and legislation. Second, you canít get tons of jobs ó and wouldnít be prepared going for them ó without many degrees. Sure, not every program is perfect, but I work my butt off preparing teachers and spend tons of time researching the effectiveness. Third, The idea that you canít have opposing views on college campuses is more political narrative than reality. The assumption that college campuses are simply bastions of one political ideology is just untrue.

    The American university system is one of the institutions that has set us apart around the world historically. Abandoning them is a massive mistake.

  22. #22

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Do we need it? How many colleges are needed? Is the purpose of OU to make money or just break even? If a billion is nothing, maybe 2 billion is nothing either? Maybe 36 million a year is sustainable? Close it down for a year or ten and compare and contrast how things are to how things were. Oh that's right; what about the football team!?

    The education system needs a total overhaul. It really doesn't take 12 years to learn how to read, write, and do basic math. It needs to be like how it is in other countries. At some point; one chooses to either learn a trade; or go on for further study and academia.

    https://www.bankstreet.edu/school-ch...-grade-school/

  23. #23

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by rtz View Post
    The education system needs a total overhaul. It really doesn't take 12 years to learn how to read, write, and do basic math. It needs to be like how it is in other countries. At some point; one chooses to either learn a trade; or go on for further study and academia.

    https://www.bankstreet.edu/school-ch...-grade-school/
    You’re describing — at best — preparing workers and citizens for the economy of a century ago. At worst, you seem to think universities prepare students for unskilled labor or simple jobs that can be learned quickly. No, I don’t agree that we need fast food universities with diplomas available for drive thru pickup.

  24. #24

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt


  25. #25

    Default Re: OU losing $36 million per year, facing nearly $1 billion in debt

    Quote Originally Posted by OKCretro View Post
    maybe it's just me... but he throws out the 6% as being a low number... but to me, having debt payments be 6% of your total operating budget seems high to me.

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