Local economic woes - downgrades to credit ratings of multiple Illinois Universities

[tornado]

http://www.reuters.com/article/2013/03/19/usa-illinois-universities-idUSL1N0CB7TG20130319

Following the recent downgrading of the entire state's credit ratings to the WORST of all 50 states...
Shaky finances statewide, massive unpaid bills and money shortages, uncertain future debt - especially in regards to irresponsibly arranged pension programs, and extremely poor management by those in power in Illinois have caused credit rating agencies to DOWNGRADE and REVISE the ratings of numerous public universities.

University of Illinois, EIU, NIU, Governors State, and Northwestern Illinois Univ. have all had their credit ratings "Downgraded".

University of Illinois, Illinois State, WIU, & SIU have all had their credit ratings "Revised downward"..

You wonder when more sports will be eliminated..

[molar50]

I have to believe there will be significant cuts to sports at most state schools with the exception of Univ of Illinois and possibly ISU. A number of years ago Univ of Illinois cut men's swimming and Missouri cut men's tennis, but I believe those cuts were in relation to equal funding for women's programs. Most schools cannot raise enough revenue to justify the expenses and education has to be the number one priority.

[tornado]

and despite claims that the athletic departments are self-funded - at state schools they are lying
as the athletic departments cost the taxpayers plenty

http://thinkprogress.org/economy/2013/01/17/1466061/how-rising-college-athletic-budgets-cost-taxpayers-millions-of-dollars-each-year/?mobile=nc

Killing sports, raising ticket prices, and even letting the politicans take over the athletic departments! - have all been proposed to help out...

some schools pay their Athletic Director MILLIONS - wonder what our guy makes??

http://blogs.knoxnews.com/woodbery/2013/03/ut-athletic-director-dave-harts-salary-compared-to-other-sec-ads.html

[tornado]

Cyprus reinstates bank account cash grab and a leader in England says that more countries all over Europe should do the same.

http://www.mirror.co.uk/news/world-news/cyprus-deal-template-future-bank-1785284