UVA braces: Up to 15 percent cuts, says guv
Governor Tim Kaine has confirmed the worst-case scenario for which UVA President John Casteen prepared, as Kaine announced Tuesday, September 8 that state universities should expect their budgets to fall by up to 15 percent. Two months ago, Casteen asked departments to prepare budgets for 5, 10, and 15 percent cuts–- and get ready for non-core programs to hit the chopping block. “This is not a time for small steps or for delays in hopes that next month will be better,” Casteen wrote in his ominous July 9 email.
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To garner some funds, after trying the "Yale Model "of investing, The University could copycat the "Harvard Model" of branding clothing for the students at UVA, blue and orange of course.
After watching their endowment drop 30% last year, Michael M. Gyrnbaum writes in the Sunday NYT:
"Harvard had entered into a 10-year licensing agreement for a line of preppy clothing.....
the designers at Wearwolf, a Manhattan-based private company that created the line, will add crimson-thread buttonholes and collar details, a subtle nod to their sartorial inspiration. Oxford shirts start at $165, and sports coats run to $495."
http://www.nytimes.com/2009/09/06/fashion/06harvard.html?hpw
Fred, if that's true some heads should roll.
15% cut in the football program probably won't affect it.
Fire Groh. That should save some dollars.
With all the cuts at UVA, Facilities Management is still sending a large group to Hilton Head, S.C. for a needless convention. There's about fifty of them going with their spouses included at a price to the state of about $3,000 per couple. What a waist of tax payer's money.