LSU to file for bankruptcy?

[Me2SouthBend]

Let's cut to the chase. Is there any chance this bankruptcy nets ND Leonard Fornette?

 

[IrishJayhawk]

From a college wrestling fan, I couldn't agree with you more.

It's maybe not necessary right now (coming from an Iowa wrestling fan). But it did tons for women's opportunities in college sports. I don't know enough about the current situation to determine if it's unnecessary at this point.

 

[Irish Insanity]

Let's cut to the chase. Is there any chance this bankruptcy nets ND Leonard Fornette?

Is there any chance they list the players as a entity they owe money too.

 

[johnnycando]

Corn dog budget substantially reduced...

 

[IrishLax]

It's maybe not necessary right now (coming from an Iowa wrestling fan). But it did tons for women's opportunities in college sports. I don't know enough about the current situation to determine if it's unnecessary at this point.

When Title IX was enacted, it was a great law. It made an incredible impact in affording women opportunities for higher education.

The problem is that recently the economics and nature of collegiate sports have drastically changed from what it was like in the 60s. The law is flat out counter-productive now towards the overall growth of collegiate sports, and the way the scholarship structure is set for equivalency sports is complete garbage and grossly unfair. It's the giant elephant in the room that no one wants to reform because any attempt to tweak the law will be so easily painted as "anti-women" by the politician's next opponent. It's possibly the only topic more untouchable than social security.

 

[Irish YJ]

Ok, here is a more reputable source.
LSU could lose 300 faculty positions under proposed state funding cuts, says King Alexander | NOLA.com

OK, so folks trying to balance the budget...

Big Teacher/Education pensions are crushing the university. Teachers get their annual income after they retire. Sooner or later you have to find the money to keep paying people NOT to work for you. It's unsustainable

Same legislators tried to double their own pay in 2008, so I wouldn't count on them trying to right size an evergreen income situation.

The state of Louisiana is looking to cut an extreme amount of money in higher education funding.

Sounds like they are trying to cut a lot all over

This has nothing to do with football. It's a simple political power play to get a do-nothing State Legislature to move their asse{t}s on creating a budget. Government institutions [a la LSU] cannot function until they do. Thus the bankruptcy ploy.

As I understand it, one of the most corrupt states and government bodies.

For the Liberals all over this....

Standard and Poor's raised Louisiana's bond rating and credit outlook from stable to positive in 2009. In announcing this change, the organization gave credit to the state's strong management and "commitment to streamlining its government functions."[46] Jindal met with President Barack Obama in October 2009 where the governor pushed for increased federal dollars to cover rising Medicaid costs, speeding the construction of hurricane-protection barriers, and financing the proposed Louisiana State University teaching hospital. During a town hall meeting, Obama praised Jindal as a "hard working man who is doing a good job" for the State, and expressed support for the Governor's overhaul of the State's educational system in the area of increased charter schools.[47]

 

[Irish YJ]

Salary database sheds light on faculty pay - lsureveille.com: LSU Salaries

That's a lot of "assistant" professors with salaries over 100k...

 

[Pops Freshenmeyer]

Salary database sheds light on faculty pay - lsureveille.com: LSU Salaries

That's a lot of "assistant" professors with salaries over 100k...

The job title is misleading. Assistant professors teach just like tenured professors (often moreso), it's just a lower title.

 

[Irish YJ]

The job title is misleading. Assistant professors teach just like tenured professors (often moreso), it's just a lower title.

I'm sure, but I guess I'm a little jaded on the college setup in general. My cousin's husband is a professor. Teaches five two hour courses a week, has low office hours, and his GAs do most of the work. Makes over $150k. Smart guy, but lazy, egocentric SOB. Still cries like biatch when I school him in Jeopardy and other brain games.

 

[ulukinatme]

Corn dog budget substantially reduced...

They were just giving those things away!

 

[irishff1014]

I'm sure, but I guess I'm a little jaded on the college setup in general. My cousin's husband is a professor. Teaches five two hour courses a week, has low office hours, and his GAs do most of the work. Makes over $150k. Smart guy, but lazy, egocentric SOB. Still cries like biatch when I school him in Jeopardy and other brain games.

That's bs. But that's what this day and age has cone too. Do the least amount of work for the most amount of money.

 

[pkt77242]

OK, so folks trying to balance the budget...



Same legislators tried to double their own pay in 2008, so I wouldn't count on them trying to right size an evergreen income situation.



Sounds like they are trying to cut a lot all over

Big tax cuts come back to bite states: Our view


As I understand it, one of the most corrupt states and government bodies.

For the Liberals all over this....

http://mobile.nytimes.com/2015/02/07/us/governors-tactics-at-center-of-louisiana-budget-vortex.html?referrer=

Even the likely next governor of Louisiana (David Vitter a current Republican Senator) thinks that they need to get rid of some of the tax breaks that have been instituted. The whole budget shortfall isn't Jindal's fault but how significant size of the shortfall is his problem.

Also what did you expect Obama to say about him, that he is a complete assclown? Of course he said positive things about him.

Big tax cuts come back to bite states: Our view

 

[Wild Bill]

That's bs. But that's what this day and age has cone too. Do the least amount of work for the most amount of money.

And demand everyone else pay their fair share so you can sit on your ass from 50 til the day you die and collect a $100k per year pension.

 

[irishff1014]

That's crap they they get 107 million dollars a year from the state. I would be highly upset if I lived in LA.

 

[PerthDomer]

You guys do realize a prof's main job is research, not teaching right? The amount they teach is pretty immaterial to the work they do,

 

[Booslum31]

Bobby Jindal for president!!! LOL

Yeah...Like Jindal has anything to do with the massive pension expense or other out of control expenses. But he sure puts a target on his back for trying to clean it up. This is just a ploy in my opinion to bust up the state legislature into action. If they can make Jindal stink a little along the way...that's a bonus.

 

[Irish YJ]

You guys do realize a prof's main job is research, not teaching right? The amount they teach is pretty immaterial to the work they do,

My cuz's husband spends way less than 40 hours a week on the average. If he's doing research, it's while he reads the WSJ on the crapper of a morning.

http://mobile.nytimes.com/2015/02/07/us/governors-tactics-at-center-of-louisiana-budget-vortex.html?referrer=

Even the likely next governor of Louisiana (David Vitter a current Republican Senator) thinks that they need to get rid of some of the tax breaks that have been instituted. The whole budget shortfall isn't Jindal's fault but how significant size of the shortfall is his problem.

Also what did you expect Obama to say about him, that he is a complete assclown? Of course he said positive things about him.

Big tax cuts come back to bite states: Our view

So he is so terrible that the credit rating improved. I'd like to see special interest BS cut as much as cutting tax breaks.

That's bs. But that's what this day and age has cone too. Do the least amount of work for the most amount of money.

I make a nice salary, but I work 60 hours a week on average and have spent 20 years getting here. I agree there are a lot of places like that, but not all. I do think the educational system if ripe with overspending and politics, including coaches. Don't get me wrong, I loved a lot of profs in college, but over half of them couldn't make it in the real world.

 

[IrishJayhawk]

Salary database sheds light on faculty pay - lsureveille.com: LSU Salaries

That's a lot of "assistant" professors with salaries over 100k...

First, I counted eight Assistant Professors over 100k. Most were in accounting or management. Most of the rest over 100K are tenured professors who were productive enough after tenure to be promoted again to full professor.

Second, as someone else said, most professors are paid, at least in part, for research output. LSU is a Research I institution. That means they are responsible for putting out new research to further knowledge in their field. A typical split is 40/40/20. Forty percent of the job is teaching (often two classes per semester), 40% is research, and 20% is service to the institution and the field. That is a reason that the teaching load often looks small compared to a liberal arts institution, where you might see a teaching load of 4-6 courses per semester. It's also a "publish or perish" atmosphere. If you're not doing good research that is published in peer reviewed journals, you're out. You'll never get promotion or tenure.

This is a continuation of what many states are doing to K-12 teachers. We're cutting taxes for the wealthy, very predictably coming up with huge deficits, and then casting teachers as the root of all evil. It's sad.

 

[IrishJayhawk]

I make a nice salary, but I work 60 hours a week on average and have spent 20 years getting here. I agree there are a lot of places like that, but not all. I do think the educational system if ripe with overspending and politics, including coaches. Don't get me wrong, I loved a lot of profs in college, but over half of them couldn't make it in the real world.

A lot of professors have spent years and years getting there as well. And most that I know work more than your cousin's husband. At minimum, professors have spent 9 years getting an education. It's likely more than that. It's typically another 7 before possibly getting tenure, which is no guarantee.

 

[Wild Bill]

First, I counted eight Assistant Professors over 100k. Most were in accounting or management. Most of the rest over 100K are tenured professors who were productive enough after tenure to be promoted again to full professor.

Second, as someone else said, most professors are paid, at least in part, for research output. LSU is a Research I institution. That means they are responsible for putting out new research to further knowledge in their field. A typical split is 40/40/20. Forty percent of the job is teaching (often two classes per semester), 40% is research, and 20% is service to the institution and the field. That is a reason that the teaching load often looks small compared to a liberal arts institution, where you might see a teaching load of 4-6 courses per semester. It's also a "publish or perish" atmosphere. If you're not doing good research that is published in peer reviewed journals, you're out. You'll never get promotion or tenure.

This is a continuation of what many states are doing to K-12 teachers. We're cutting taxes for the wealthy, very predictably coming up with huge deficits, and then casting teachers as the root of all evil. It's sad.

I guess tax payers are sick of funding early retirement for public employees.

 

[Whiskeyjack]

This is a continuation of what many states are doing to K-12 teachers. We're cutting taxes for the wealthy, very predictably coming up with huge deficits, and then casting teachers as the root of all evil. It's sad.

We no longer have a coherent vision of education's purpose. So it's been defined down to the lowest common denominator-- instrumentality. Making a salary and increasing GDP. It's no surprise then that teachers are vilified for the failings of our school system.

 

[JD Irish]

What a pathetic excuse for a university.

 

[GoIrish41]

We no longer have a coherent vision of education's purpose. So it's been defined down to the lowest common denominator-- instrumentality. Making a salary and increasing GDP. It's no surprise then that teachers are vilified for the failings of our school system.

Not sure I understand what you mean by the bolded. Little help?

 

[woolybug25]

I guess tax payers are sick of funding early retirement for public employees.

Bill, do you honestly even know if that is the case here in Louisiana? Do you have knowledge of the drivers causing the significant shortfalls in their specific budget? Do you even know if they have a spending problem or if they are just gutting public education under the guise of conservatism?

Finally... do you even know if the tax payers were being significantly burdened by the retirement benefits of the employees? Maybe they are getting the short end of the stick because of other parties indiscretions.

All of the comments in this thread so far on the side of Louisiana's actions seem to be knee jerk reactions with cliche, right wing rhetoric regarding the cause. Maybe there really is a need for this type of action and the schools themselves are to blame... but not one person has actually argued specific facts regarding the true cause and effect of the issue at hand. Which I would find more interesting then two political spectrums spitting off worn out cliches at eachother.

 

[IrishJayhawk]

I guess tax payers are sick of funding early retirement for public employees.

Define early? Do you have any data to back up the talking point?

 

[IrishJayhawk]

Also, "early retirement" is typically only approved if it saves the institution money moving forward.

 

[irishff1014]

My cuz's husband spends way less than 40 hours a week on the average. If he's doing research, it's while he reads the WSJ on the crapper of a morning.



So he is so terrible that the credit rating improved. I'd like to see special interest BS cut as much as cutting tax breaks.



I make a nice salary, but I work 60 hours a week on average and have spent 20 years getting here. I agree there are a lot of places like that, but not all. I do think the educational system if ripe with overspending and politics, including coaches. Don't get me wrong, I loved a lot of profs in college, but over half of them couldn't make it in the real world.

I am not saying you don't work hard for your money I know a lot of people that make real good money but they bust their ass off to get it.

 

[NCDomer]

Wait, so Louisiana had a budget problem and decided to fix it by cutting taxes? Really?

What's more surprising is that the credit agency gives them a stable rating when they're talking about massive shortfalls and filing for bankruptcy. Credit agencies aren't very good at this risk assessment thing and clearly haven't learned anything from 2008...

 

[Wild Bill]

Bill, do you honestly even know if that is the case here in Louisiana? Do you have knowledge of the drivers causing the significant shortfalls in their specific budget? Do you even know if they have a spending problem or if they are just gutting public education under the guise of conservatism?

I responded to a cliche left wing statement that wasn't specific to Louisiana's current budget crisis:

This is a continuation of what many states are doing to K-12 teachers. We're cutting taxes for the wealthy, very predictably coming up with huge deficits, and then casting teachers as the root of all evil. It's sad.

Define early? Do you have any data to back up the talking point?

Pensions destroying state budgets? It's not a talking point, it's a real problem that has to be resolved.

Illinois Faces Big Revenue Hit in 2015 - WSJ

And it'll be resolved on the backs of the tax payers, whether it's through increased taxation or loss of services tax payers rely on.

There would be no need to define early if public employees funded their own pensions.

It simply makes no sense to me that I should have to dig in my pocket for an extra 2% each year and pay for someone else's pension while I'm sitting here trying to fund my own retirement. That's far from extreme. A huge majority of private employees feel the same way.

 

[pkt77242]

I responded to a cliche left wing statement that wasn't specific to Louisiana's current budget crisis:





Pensions destroying state budgets? It's not a talking point, it's a real problem that has to be resolved.

Illinois Faces Big Revenue Hit in 2015 - WSJ

And it'll be resolved on the backs of the tax payers, whether it's through increased taxation or loss of services tax payers rely on.

There would be no need to define early if public employees funded their own pensions.

It simply makes no sense to me that I should have to dig in my pocket for an extra 2% each year and pay for someone else's pension while I'm sitting here trying to fund my own retirement. That's far from extreme. A huge majority of private employees feel the same way.

They do fund part of their own retirement. Heck if you work for a large company they most likely pay something towards your retirement (matching 401k or something else). Also many government workers make less then private sector employees in equivalent positions (most not all) and the pension is what they get for accepting less pay. Think of it as deferred pay.

Lastly what does that article have to do with Louisiana. The majority of Louisiana's shortfall is due to tax cuts.