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re: Bama Football Tidings
Posted on 8/21/20 at 1:01 pm to SummerOfGeorge
Posted on 8/21/20 at 1:01 pm to SummerOfGeorge
I live in NC and know a freshman at UNC. He said once they went online, tons of students were packing up and heading home. Some will stay, but many will not. At the very least, going online will drastically depopulate the campus and make a football bubble more possible.
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Posted on 8/21/20 at 1:01 pm to SummerOfGeorge
quote:
They don't have huge rainy day funds "in case" they have to shut it all down for 1/2 a year (nor should they, to be frank).
Any idea why schools are so reluctant to dip into their endowments? A university near where I live decided to cut the salaries of professors and staff, rather than dip into their endowment. I assume that's the case for the majority of schools.
Posted on 8/21/20 at 1:01 pm to tider04
quote:
I live in NC and know a freshman at UNC. He said once they went online, tons of students were packing up and heading home. Some will stay, but many will not. At the very least, going online will drastically depopulate the campus and make a football bubble more possible.
Yep - I'm sure that is true. And that's their goal - to keep kids in "school" but to depopulate campus.
Posted on 8/21/20 at 1:03 pm to Sl0thstronautEsq
quote:
Any idea why schools are so reluctant to dip into their endowments? A university near where I live decided to cut the salaries of professors and staff, rather than dip into their endowment. I assume that's the case for the majority of schools.
The short answer is they can't. Endowments are legal agreements with donors to use the investment earnings off the funds donated for whatever the purpose of the fund is. The amount donated isn't even allowed to be touched, ever, absent a change in the donation agreement from the donor. Using those funds for a different purpose (or dipping into the corpus, the amount donated) is illegal (violation of the contract, not to mention would be a giant issue in terms of their financial reports).
So, basically, they'd have to contact the legal representative of each endowment fund and see if they were willing to free up that money for a different purpose or remove the restriction and allow the University/Foundation to use it however they want. And, as you can imagine, Universities are very, very reluctant to do that for a whole host of reasons.
This post was edited on 8/21/20 at 1:06 pm
Posted on 8/21/20 at 1:06 pm to SummerOfGeorge
quote:
SummerOfGeorge
Thank you, that's very helpful (and interesting)!
Posted on 8/21/20 at 1:07 pm to Sl0thstronautEsq
quote:
Thank you, that's very helpful (and interesting)!
Absolutely - it's one of the few times my very specific professional knowledge subset comes in handy
A good example is if Joe Smith wants to set up a scholarship fund - he donates $100,000. Well, the yearly scholarship isn't coming out of that $100,000 (or the hope is it isn't).........the scholarship is coming out of the earnings off of that $100,000. And so, that scholarship lives on in perpetuity, and Joe Smith's $100K ends up funding $1,000,000 in scholarships.
That's the general idea behind and endowment, at least. The followup question, of course, is what if the investment $100K loses money? Well, that happens, and that's called being underwater, and the University has to cover the difference out of their general monies (which nobody wants to do, obviously) or rely on an out in their endowment contract (which most have in one way or another).
This is also why you read so much about the big Ivy League schools having their own internal Investment Funds that do nothing but handle their endowment - and why it's such a big deal. Endowment funds and Pensions are the biggest players in terms of shopping themselves to investment managers to manage their funds. There aren't a whole lot of non-giant public companies that have $1B sitting around that needs to be invested.
This post was edited on 8/21/20 at 1:11 pm
Posted on 8/21/20 at 1:13 pm to SummerOfGeorge
quote:
I'm currently working with the 6/30 financials of multiple schools and dealing with the effects of their Spring 2020 semester shutdowns and I can tell you exactly what is happening in Tuscaloosa (and across the country)..........
They know once kids start classes that they are stuck. They will move things online and the kids will inevitably stick with it, because they are already started and because they've already paid. That money is 100% going to stay with the University, and if they had said "online" in July or early August kids would NOT have all paid. I'm not going to say this was 100% about money, but it absolutely is a factor. I'm sure that most of the upper management truly does think they can provide a high quality product virtually as well, so I'm not trying to imply this was some fraudy scheme.
This makes it sound like UA is purposely deceiving students. That is incorrect. As someone who works at UA, the plan has always been to have on-campus instruction. There was never a secret date or timetable to change to online only instruction to deceptively take student's money. If that happens, it will be because of student's inability to wear masks around town/campus. I'm guessing that is what Lars in referring to.
Posted on 8/21/20 at 1:16 pm to RollDatRoll
quote:
This makes it sound like UA is purposely deceiving students
In the text you quoted, he literally stated, "I'm not trying to imply this was some fraudy scheme."
Posted on 8/21/20 at 1:17 pm to SummerOfGeorge
I know that the final day to withdraw and get most of your money back at Alabama is very soon, I think next Friday. Some parents are already doing that as many kids had their live and hybrid classes changed to online and the professors are telling the kids the term "hybrid" was used quite loosely by administration and can mean practically anything that entails a single live class the entire semester. People are pissed and feel like they were misled.
Posted on 8/21/20 at 1:18 pm to RollDatRoll
quote:
This makes it sound like UA is purposely deceiving students
quote:
I'm sure that most of the upper management truly does think they can provide a high quality product virtually as well, so I'm not trying to imply this was some fraudy scheme.
Posted on 8/21/20 at 1:22 pm to SummerOfGeorge
Sending students home is a mistake. The Univeristies will be sending them home to family members and then the risk is infecting a family member who actually might have issues with the virus. My Doc said all along that closing schools was big mistake, that school age children and college age kids, need to be the people to get the virus, as they have about an 85 percent rate of absolutely zero symptoms, and about a 14.97 percent rate of cold like symptoms, and about .003 percent have issues.
This post was edited on 8/21/20 at 1:38 pm
Posted on 8/21/20 at 1:24 pm to amders44
Sucks for people like me who are in a year long apartment lease... guess I have to pay for daughter to sit in Ttown
Posted on 8/21/20 at 1:38 pm to Bear88
Same her my daughter is in a rental house at her college, if she is there we pay if she is not we pay.
Posted on 8/21/20 at 1:43 pm to TidalSurge1
quote:
Bama Football Megathread ~ Thread crapped in & derailed by Sl0thstronautEsq
Sorry TidalSurge1! I thought the tweet might be related to the football team!!
This post was edited on 8/21/20 at 1:44 pm
Posted on 8/21/20 at 1:53 pm to amders44
I know at NC State they are quarantining kids in the dorm (or rather I was told this by a kid at NC State). One person on dorm floor get C-19, the whole floor gets quarantine.
Sorry - I guess this discussion should be moved back to the C-19 thread with no politics.
Sorry - I guess this discussion should be moved back to the C-19 thread with no politics.
This post was edited on 8/21/20 at 1:54 pm
Posted on 8/21/20 at 1:58 pm to Bear88
See, I just think most of those college kids just want to be away at school, and dont really care that much one way or the other about having on line classes. In some ways its easier--just like working from home. But, I can see why parents would like to save the money and bring them home.
These are difficult times but we will get through them.
These are difficult times but we will get through them.
Posted on 8/21/20 at 2:05 pm to IB4bama
For sure. Daughter did not want to tell us she has been in quarantine bc a roommate tested positive .... she was afraid we would make her come home
Posted on 8/21/20 at 2:24 pm to Sl0thstronautEsq
quote:
I thought the tweet might be related to the football team!!
That also means you knew it might not be related to the football team. There's an existing Online only classes for fall 2020? thread you could've posted it in, but since you weren't sure what the tweet was about you should've created a new thread.This post was edited on 8/21/20 at 4:13 pm
Posted on 8/21/20 at 2:46 pm to TidalSurge1
You're right, I should have started a new thread. I had thought it might be football-related because Drew DeArmond retweeted it.
So, football...
Have we talked about how jacked Perine is now?
So, football...
Have we talked about how jacked Perine is now?
Posted on 8/21/20 at 2:55 pm to Sl0thstronautEsq
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