BU Trustrees meeting

[wizard1]

I understand that the board of trustees met this week and one of the topics was the BU financial situation. Have any of you heard how the meeting went, discussions re: finances, etc.?

[tornado]

I have heard a little and will PM you but discussions of this nature should not be aired publicly
...we will soon see evidence of changes..

[tornado]

there obviously won't be enough $$ to suddenly buy out contracts - that would make matters worse - so the changes will be more gradual

[tornado]

have a little more to go on ...........PM me if u wanna know...

[wizard1]

BU Trustees meeting

t... Thanks for the "heads up". I would be interested in what has gone down since the meeting. I have been meaning to call you and will do so this weekend.
Wiz

[Bravesfanchicago]

Trustees have acted....financial troubles finally recognized

An across the board cost reduction program is finally being implemented. The Board of Trustees has mandated that three committees be organized to address key areas ....the primary committee is on Finance and Resources.

JG is on a short leash with monthly required progress reports to be made to the Board.
Among other things, it has become clear that BU's incoming classes may be permanently smaller and the cost structure of the University is bloated.

What took the BOT so long to see this ? This has been unfolding for several years now.

[tornado]

.... This has been unfolding for several years now.

and it has been documented many times by those with knowledge right here yet the standard media does not think it's a story

we spent $1.5 mil on a buyout, almost $4 mil more on a search and hiring of a new HC, then lots more bringing in new assistants, paying legal fees and settlements in lawsuits, etc....much could easily be viewed as unnecessary given how little we've re-couped to date and become a perennial Thursday team...with horribly reduced attendances and shrivelled fans base & donor base...

[tornado]

an e mail was sent to many on campus regarding this "emergency situation" financially...

I would be happy to discuss the e mail with anyone but will do so privately because it seemed there were some who were upset when it this topic was discussed before and who wanted it "off the record"
(see other thread on finances)
Remember - despite the "alarm" being sounded campus-wide, only two departments failed to meet budget expectations and one of those departments accounted for almost all of the financial losses campus-wide.