Moody’s downgrades 7 Illinois universities, 5 are junk

Discussion in 'Off-Topic Discussions' started by decimon, Jun 15, 2017.

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  1. decimon

    decimon Active Member

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  2. Kizmet

    Kizmet Moderator

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    I think the Springfield campus is the one we hear about the most. It has a bunch of DL programs.
     
  3. decimon

    decimon Active Member

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    I'm not familiar with that but thought this of general interest. And I doubt that Illinois is the only state with such problems.
     
  4. Kizmet

    Kizmet Moderator

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    I'll bet you're right
     
  5. me again

    me again Active Member

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    Maybe the United States can unhinge Illinois from the union and then accept Puerto Rico as a replacement State. Which entity is in better financial shape?
     
  6. decimon

    decimon Active Member

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    The only sure bet. ;-)
     
  7. Kizmet

    Kizmet Moderator

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  8. decimon

    decimon Active Member

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    In New York they sold the lottery program with the lie that the money would go to education. The money of course went into the general fund but it was a long time before that was fessed up to. Then came stories that they'd done the impossible in finding a way to lose money on a gambling operation.

    Maybe they should give the thing back to the organized crime guys who know what they're doing.
     
  9. Kizmet

    Kizmet Moderator

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  10. decimon

    decimon Active Member

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  11. Gabe F.

    Gabe F. Member

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    Some time ago, the Illinois Policy Institute cited administrative growth & bloat as one of the major problems in Illinois public higher education (current budget crisis notwithstanding).

    If you want some real fun, check out the public university salary database:

    IBHE Public University Salary Database-Search Options

    I clicked on "Search by Position" and selected "Vice Chancellor". That yielded 55 vice chancellors. Total salaries were just shy of $11 million and "additional compensation" was nearly $900k.

    Nearly $12 million dollars in total compensation benefits JUST for these 55 vice chancellors.
     
  12. sanantone

    sanantone Active Member

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    That's what they did in Texas; but, in reality, our schools are mainly funded by high property taxes, our schools are still underfunded because the state has a huge budget shortfall, and the courts ruled our school finance system as unconstitutional. Our state can't even fund special education for everyone who needs it. Oh, but Texas won't allow casinos as if playing the lottery isn't gambling.
     
  13. decimon

    decimon Active Member

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    It's property tax in NY as well. NYC chose to keep residential property tax at a lower rate than elsewhere in the state and tax the citizens in other ways. But it's business taxes that sustain probably all states.

    I should modify my comment about losing money on gambling as I believe it was Off Track Betting that was said to be losing money.

    As for schools being underfunded, well, in what sense? If education is the goal then U.S. schools are overly funded. Follow the money, as they say.
     
  14. Kizmet

    Kizmet Moderator

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  15. Kizmet

    Kizmet Moderator

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  16. Kizmet

    Kizmet Moderator

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  17. decimon

    decimon Active Member

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    Kizmet Moderator

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  19. Kizmet

    Kizmet Moderator

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    Kizmet Moderator

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