Friday, December 31, 2010

UC Execs Reveal True Values

The recent revelation that 36 UC execs have called on President Yudof to “do the right thing” and allow their pensions to go beyond the IRS income limit shows in bright strokes how the university has taken on the logic of a Wall Street firm. Not only does the upper management seek to reduce labor costs by lowering benefits, reducing salaries, busting unions, and eliminating positions, but there is an insatiable hunger to transfer wealth and power to the top. Moreover, many of the people who signed the letter asking for increased pensions are directly responsible for the management of the UC’s investments, which lost over $23 billion in 2008-09. Like Wall Street investors, the people who helped steer the economy into a ditch now want record-breaking compensation deals.

On one level, I actually feel for President Yudof, who allowed these high earners to escape from their furloughs only to have them turn on him. In fact, it is important to stress that one reason why we have not seen the needed faster ramp-up of the employer contributions to the pension plan is that the medical centers, with their billions in net profit, have argued that they cannot afford to contribute the needed amount. The leaders of the “self-sustaining units” feel that the only way they can stay highly ranked is if they offer huge compensation packages to their star administrators and researchers. Like the self-promoting, self-compensating Dean of the UCLA Anderson Business School, these top earners are pushing to further privatize the UC so that they can generate new compensation schemes.

Of course all of this is occurring during a time when the new governor is threatening to reduce the UC budget, and the university is bracing for the results of a state audit that will surely spread gas on the fire. The only responsible thing for the UC administration to do is to show that it will spend state funds and student fees in a fair and effective manner. By freezing student fees, increasing instructional budgets, and reducing the size and costs of administration, the UC system will be in a much better position to protect state funding and its public image.

22 comments:

  1. "I actually feel for President Yudof, who allowed these high earners to escape from their furloughs only to have them turn on him."
    you truly believe he was completely caught off guard by this?

    ReplyDelete
  2. These greedy UC executives, (a group characterized as "craven scum" by Dean Edley himself), whine that they were promised increased pension benefits.

    They ignore the fact that lots of people have been promised lots of things by the University of California who will never see those promises realized.

    The UC pension plan has a huge unfunded liability and one way or the other it is inevitable, (barring some sort of fiscal miracle), that UC employees are going to get stuck paying for this unfunded liability, either by job cuts, increased pension contributions, or decreased benefits.

    So the question isn't really whether UC will break a promise, but rather which promises will UC break, when, and to whom.

    Not breaking promises is simply no longer an option for UC.

    These UC executives realize this, and they simply want to make sure they are personally taken care of before the real financial suffering gets underway.

    Shame on them for their cupidity; and shame on them for dragging UC's good name further into the mud in the press for a situation they themselves partly helped to create through years of university mismanagement.

    ReplyDelete
  3. The true values of this post is to educate students to helped steer the economy into a ditch now want record-breaking compensation deals.

    ReplyDelete
  4. Thanks for sharing your info. I really appreciate your efforts and I will be waiting for your further write friv

    ReplyDelete
  5. Here, you would locate the best solution for soothe any money emergency. It is simple for you to procure snappy entirety of cash on the off chance that you select for 1500 individual credits.cash advance corona

    ReplyDelete
  6. So as to move the home loan more than on the following month and in addition months past that, the interest rate makes it turn out to be genuinely restrictive and ugly to accomplish insightful completely truly need to. You may locate, that high rate of interest may settle your disparities for the augmented credit so you will owe twofold the sum as you initially obtained! auto title loans online in fresno

    ReplyDelete

  7. Thanks for sharing this quality information with us. I really enjoyed reading. I think I need it.
    Games for girls|
    Kizi 1|
    Kizi 2

    ReplyDelete
  8. This is a great web site. Good sparkling user interface and very informative blogs. I will be coming back in a bit, thanks for the great article. I have found it enormously useful..
    happy wheels
    super mario bros
    pacman
    agario

    ReplyDelete
  9. Understudy credits can be government upheld advances or private advances. All understudies ought to begin their advance quest by applying for government sponsored credits before taking a gander at private advances. Government upheld or elected credits have numerous points of interest that private advances don't. https://www.usacheckcashingstore.com/chula-vista

    ReplyDelete
  10. Thanks for sharing the information. It is very useful for my future. keep sharing. Can you play more games at: Kizi 4 | Friv100 | happy wheels game

    ReplyDelete
  11. thanks for the information. It's very complete information.









    สมัครบาคาร่า

    ReplyDelete
  12. Connect brother printer to wifi MAC computer is a simple cycle, you should simply follow the fundamental strides to finish the means with no interference.

    ReplyDelete
  13. AOL Mail, also called AIM Mail, maybe a recent development in America Online's long (by Internet standards) history. AOL mail login provide a list of facilities to its customer who purchased AOL subscription. It is an all-in-one software package. However, within the spring of 2005, AOL launched its first free Webmail service, referred to as AOL Mail.
    Aol Mail Login | Aol Login

    ReplyDelete
  14. Suddenlink customer service number - Suddenlimk customer service number help to connect user to connect with expert service providers for problem like Service Problem,Cancel Service,Change Plan,Overcharge/Strange charge,Technical Support or any other different issues . The expert are here to guide you and help you in every problems regarding Suddenlink . we are here to provide help you to you for 24x7 hour .

    ReplyDelete
  15. Usually I never comment on blogs but your article is so convincing that I never stop myself to say something about it. You’re doing a great job Man,Keep it up. Visit:- Black Friday deals Walmart | Walmart Black Friday deals | Black Friday deals Walmart | Amazon Black Friday deals | black friday gaming laptop deals | Black Friday | Turbotax Login | AOL Mail Login | Aol Login | Cash App Login.

    ReplyDelete
  16. Brother Printer Support Number is one of most renowned wireless printer's that many peoples uses, Nowadays, users are more interesting about wireless networks for printing there documents. So Brother hl-2270dw Wireless Setup provide many facilities to its user's. For more information contact our experts they are 24*7 available to help there user.

    ReplyDelete
  17. Att bellsouth email login
    Blog remarking is something that assists with getting quality backlinks for your site. BellSouth administrations are a piece of innovation. What's more, actually, they become testing now and again. BellSouth email Login" is an overall issue that clients gripe about. Presumably Bellsouth email login administrations give clients bother free insight. Yet, it stucks now and then due to specialized and goes through the web. for more info :- https://sites.google.com/view/att-bellsouth-email-login/home

    ReplyDelete
  18. Hube Pvt Ltd is truly remarkable in its ability to adapt and evolve, much like the ever-changing landscape of universities. Just as universities continually adjust to meet the demands of a dynamic educational environment, Hube Pvt Ltd has consistently provided innovative solutions in the mobile accessories industry. Their commitment to staying at the forefront of technology trends mirrors the need for universities to keep pace with evolving teaching methods and tools. Hube's adaptability and forward-thinking approach make them a valuable partner, especially in a world where educational institutions are constantly transforming to meet the needs of students and the demands of the future.

    ReplyDelete
  19. In a world where online multiplayer games are a dime a dozen, it can be hard to find one that really grabs your attention and leeches onto your free time. I have found one such game in Katana Online NFT Pc games USA, which is an NFT game set in feudal Japan. In the game, players can choose to play as either a samurai or a ronin, and each class has its own unique skills and abilities. What really sets this game apart from others in the genre is the sense of immersion that it provides.

    ReplyDelete
  20. One of the foremost features that set guest houses in Karachi apart from other accommodations is the personalized service they provide. From the moment you step foot into these cozy abodes, you are greeted with warm hospitality and a genuine desire to make your stay memorable. Unlike large chain hotels, guest houses in Karachi have a limited number of rooms, which allows the staff to focus on individual guests and cater to their specific family hotel in karachi. Whether you need assistance with your travel plans, local recommendations, or room service, the attentive staff is always ready to assist, making you feel welcomed and valued.

    ReplyDelete
  21. Pakistan has emerged as a prominent player in the global textile industry, particularly in the production of knitted garments manufacturers in pakistan. The country boasts a rich tradition of textile manufacturing, and its knitted garments sector has gained recognition for delivering high-quality, comfortable, and stylish products. This content explores the landscape of knitted garments manufacturers in Pakistan, highlighting their contribution to the fashion industry and the global market.

    ReplyDelete