The sports program pays for itself and was giving $$ back to the university for Boren to waste.
Boren lied about donations and the debt - he likely also lied about the public funding he was wasting, maybe he can get some charity $$ to make some more commercials patting himself on the back publically while he is screwing everyone over behind the scenes.
OU Regents OK raises, hires
Oklahoman, December 12, 2018: https://www.oklahoman.com/university...rticle/5617511"The university has now found over $31 million in ongoing savings starting in fiscal year 2020. This number is going to continue to grow," Gallogly reported.
"Finding savings like this allows us to hold tuition flat, give our faculty raises, as well as our staff, and advance our mission of doubling research."
Boren didn't have to have OU to succeed at a high level. He had tremendous opportunities in government and private business but CHOSE to dedicate himself to academics at OU. He didn't need to buy himself a presidency (cough, cough) and then trash his predecessors to try to make it look legit.
I'm not convinced that any of that is true.
Gallogly is clearly on a mission to make the previous administration look as bad as possible. That may play well with a few wealthy donors who have seethed for years about Boren's political leanings, but outside of that limited group this looks really bad. It doesn't make Boren look bad, it makes Gallogly and the Board of Regents look bad.
The whole "trash everything about the previous guy" tactic may work fine in business, but it's the exact opposite of what is expected in academia. You're supposed to come in and talk about how wonderful the previous administration was, and how you respect all they've done for the university and the students. Even if it's a bunch of crap and you don't believe it, that's still what you're expected to do. This kind of classless behavior by Gallogly is going to hurt OU. If anybody thinks the Big 10 is going to invite us to join while this guy is in charge, they're a fool. Cousin Eddie doesn't know how to behave in polite company.
^
It doesn't work fine in business, either. Just makes you look insecure and weak.
I have gone from concerned to alarmed. Regardless of what is actually going on here, this is embarrassing for everyone involved including the regents and school.
Gallogly is revealing himself to be the Howard Schnellenberger of OU presidents.
From the Daily: 'Does it mean the sky is falling? Maybe not': Experts say OU's debt not a red flag when compared to other Big 12 schools
OU’s debt totals $908 million as of Nov. 30, according to Erin Yarbrough, interim vice president for public affairs. Yarbrough also said OU will spend roughly $66 million on debt payments this year.
Yarbrough previously told The Daily that a final university budget has not been completed for fiscal year 2019, which ends next June, so there is not an official percentage of the amount of the overall budget that will be spent on debt payments. But the Board of Regents approved a $1.02 billion preliminary budget for the Norman campus this fiscal year, leaving OU to spend roughly 6.5 percent of its total budget on debt payments until official budgets have been approved.
"I’ve seen healthy private institutions at that rate or higher," Menditto said, referring to OU’s 6.5 percent.
When looking at total debt, the percentage of overall budget spent on debt payments and debt per student, OU does spend more per year than most other Big 12 universities.
The University of Texas has $1.6 billion in debt, but it spends about 4 percent of its overall budget on debt payments. Oklahoma State University said it has roughly $863 million in total debt and spends 5 to 6 percent of its total budget on payments.
West Virginia University has $753 million in debt and spends approximately 5.5 percent on debt. Iowa State has about $503 million in debt, with 3 percent of its overall budget going to payments.
Kansas State University said it has $464 million in debt and spends 4.5 percent of its total budget on debt payments. Texas Tech has $445 million in debt, and most of its payments are covered through donations and gifts to the school.
The City of OKC carries tons of debt... That's what a General Obligation Bond is: a very low-interest loan on future revenues. It's similar to what OU does.
Perhaps Gallogly should go blowing into City Hall and rant about everyone there being incompetent and how they need a brilliant businessman like him to tell them how to run things.
I expanded on the article's information
OU UT OK ST - 5% OK ST - 6% WVU ISU KSU TTU Total debt $908,000,000 $1,600,000,000 $863,000,000 $863,000,000 $753,000,000 $503,000,000 $464,000,000 $445,000,000 Percent of total budget paid yearly toward debt 6.5% 4% 5% 6% 5.5% 3% 4.5% Gifts Debt payment per year $59,020,000 $64,000,000 $43,150,000 $51,780,000 $41,415,000 $15,090,000 $20,880,000 N/A Total students 28,582 51,832 24,649 24,649 29,936 34,992 22,221 38,209 Debt per student $31,768 $30,869 $35,012 $35,012 $25,154 $14,375 $20,881 $11,646 Student debt payment per year $2,065 $1,235 $1,751 $2,101 $1,383 $431 $940 $0
Well, considering the lack of support from the state legislature, it's actually impressive the Oklahoma schools are even comparable to Big 12 counterparts with better state funding. It's starting to look more and more like Gallogly is either ignorant, incompetent, or just straight up gaslighting the OU community. Is there a precedent for asking a president to step down this soon? I wonder if OU's faculty Senate might considering a vote of no confidence. These events also raise serious questions about the Board of Regents' priorities, abiltities, and intentions.
Giving the faculty a raise will quell them for a while I imagine. But as they cut more staff, faculty are affected by that greatly. They also are still a bit mad over the process of the presidential selection not being transparent what so ever.
At the end of the day the board of regents has a lot of power over this and it would take some serious faculty protests to make anything happen.
We know enough to know that's not a good comparison. The growth OU showed under Boren academic reputation, campus quality, program creation (e.g., honors college) is really rather incredible. I am not saying Boren was perfect or above scrutiny, but to label his presidency a complete failture akin to the Blake years would be to ignore a lot of contrary evidence.
I love this concept that everything should be debt free or get out of debt when literally almost every business, govt, personal entity has some debt.
Too much debt is bad, too little debt is bad too.
Debt can fuel growth much quicker and at a higher rate then trying to do it with cash flow. There's a tipping point where debt is more efficient than paying cash.
That's why when business need to grow they tap a mix of debt and equity. Waiting to use profits to fund the growth won't work the growth will pass you buy.
Trying to save up $100-$150k for your first home in your 20s won't work. buy the time you can save that much you might need a 200k-250k home. So you get a mortgage.
While MAPS is awesome imagine how inefficient and difficult it would be to operate the city that way? Prime example, look at I44-I235.
If Gallogly actually said what is reported last summer why are the Boren loyalist including the Norman Transcript just now making this public….?
If true Boren’s people have been sitting on this information for many months knowing full well that their poor management would eventually come to light… Boren, ever the politician, knew he would need a distraction from the bad news about how he operated OU that was sure to come.
Once we get past any words…. Boren and his apologists are left with much more embarrassing amount of egg on their faces for the way they defend and deflect from the poor Boren management in his last few years.
This caused real life significant increases in student tuition and no pay raises for OU employees for 10 years.
This adversely impacted thousands of OU students and OU employees…
What actually happened to these people is many times more impactful and many times more embarrassing than any words Gallogly may have said about Boren. But not many here seem honest enough to even recognize the truthfulness of those facts.
The fact Gallogly came in and found 31 million dollars in annual cost saving according to some reports in a few short months that would have largely been available to Boren had to be a personal embarrassment for Boren... especially since the Boren solutions were always more about increasing donor and state tax money.
Where was the reporting from Norman Transcript on Boren’s waste and the donor misreporting ?… Sure looks like they have been looking the other way all this time. That’s embarrassing for them.
Once the Boren people calm down from the real world finally arriving at OU even they should eventually see that OU will become a stronger university because of the changes that are now being made. There are important people in state government and donors collectively worth tens of billions who will stand by Gallogly pretty much no matter what he says and no amount of crying is going to change that.…
It’s now time to move on and jump on the Schooner and help make OU greater than ever.
5 Things You Need to Know About OU's Financial Situation
http://www.ou.edu/insideou/articles/...cial-situation
1) Debt Rising & Cash Falling
The Norman campus has close to $1 billion in debt, including synthetic debt that needs to be serviced. We must pay principal and interest payments every year which total nearly $70 million. Our debt has grown rapidly due to the new construction on the Norman campus.
PS: I expect to be told that 70 million just to service OU’s debt is not a lot of money. The fact is that when OU has been spending more than they have been taking in for several years…it’s a lot of money…like it or not.
I don’t know that this necessarily applies to OU (OU has a large endowment and I highly doubt it will ever be in any danger of closing), but it does touch on university debt, how many institutions are now operating at a loss and why that will be an issue going forward. I would imagine that the board of regents has been presented with information like this over the last few years and given OU’s financial condition, probably helped influence their choice to hire Gallogly. I’m sure they look at the rest of the country and view being more financially stable than other schools as a major competitive advantage in the future. Though personally I greatly enjoy the constant Boren bashing, he needs to chill with the anti-Boren rhetoric and do the job. He’s the right person to clean things up and put the university on the right financial path over the next few years...he just needs to stop some of the noise.
https://www.forbes.com/sites/michael...xt-decade/amp/
This thread is just about spin now. There are those that hated Boren and love the strong arm tactics of leadership now. Accept it for what it is ... a power play. We are getting the same propaganda regurgitated over and over by a few in an attempt to justify. Sadly, many will believe the Gallogy/Bennett axis.
I do think it’s possible to think both have done a good job. They just have different priorities—all of which can be good for the university. Everyone is so caught up in a political philosophy that they think must be correct, and it skews views about what they think works. There are multiple ways of doing things and none of them have to be poisonous to the university.
I think what Gallogly is reported to have said seems unprofessional and harsh toward Boren. I also think it’s possible that saying something along those lines may have been necessary to get Boren’s attention. Gallogly was going to be doing things differently, and it would be tougher if Boren was going to go public in defense of himself as he typically does. Something terse and direct may be the way to get the message across. On the other hand, without more context, the story about refusing to put the plaque up seems petty and unnecessary. That part worries me a bit more—that decisions are made on the basis of a personal vendetta.
Quote Originally Posted by ultimatesooner View Post
Boren apparently had plenty of $$ and was always asking for more from every direction possible, this situation is going to let us know him and Molly wasted it.
OMG,,,, she had trees, shrubs and grass planted and maintained. What a waste of money. Oh yeah, she threw away money on flowers too. The shame of it.
I am pleased to announce that we continue to make progress filling open executive positions and that I will be presenting several individuals to the Board of Regents for approval at the January Regents meeting.
James Gallogly
President
The University of Oklahoma
Senior Vice President, Chief Human Resources Officer
Reports to: James L. Gallogly, President
Candidate: Dr. Jacquelyn Wolf (external candidate)
Start Date: Jan. 7, 2019
Candidate Summary:
Dr. Wolf has more than 35 years of experience in a broad array of human resources specialties and in overseeing human resources functions that supported complex and geographically dispersed operations. Most recently, Dr. Wolf has been an independent executive human resources consultant working for the University of Oklahoma. Prior to that, she served as Executive Vice President, Chief Human Resources Officer at Anthem Healthcare. She also served as Senior Vice President and Chief Human Resources Officer for LyondellBasell, one of the largest plastics and refining companies in the world. Dr. Wolf also served as Senior Vice President, Human Resources for Celanese Corporation and as Executive Vice President, Chief Human Resources Officer for Comerica. Prior to these roles, she served in progressively more responsible human resources positions at General Motors, Honeywell International, and General Electric.
Dr. Wolf received her Bachelor of Arts degree in organizational communications from Youngstown State University, a Master of Science, Business Management & Administration from Baker University, a Master of Arts in Human & Organizational Systems, and a Doctorate in Philosophy - Human and Organizational Systems from Fielding Graduate University.
Vice President, Student Affairs and Dean of Students
Reports to: James L. Gallogly, President
Candidate: Dr. David Surratt (external candidate)
Start Date: Feb. 11, 2019
Candidate Summary:
Dr. Surratt has 17 years of higher education experience with several colleges and institutions including the University of Oklahoma, Pennsylvania State University, St. Peter’s University, Rosemont College, and the University of California – Berkeley. He is currently the Assistant Vice Chancellor & Associate Dean of Students at the University of California - Berkeley and has served in various leadership roles there since 2013 including interim Dean of Students and interim Associate Vice Chancellor. In his current role, he is responsible for a broad array of student affairs programs including residential life, LEAD Center (e.g. Greek Life, Student Organization Advising, and Student Leadership Programs), Recreational Sports, New Student Services, and the Student Environmental Resource Center (SERC). Prior to this role, he was the interim Associate Vice Chancellor at UC Berkeley where he managed housing, events and facilities, campus dining, Cal 1 Card Office, and the early childhood education program. He also held positions as dean of students, chief housing officer, and other student affairs roles at the previously mentioned colleges and institutions.
Dr. Surratt has a Bachelor of Arts in English Literature, and a Masters of Arts in Human Relations from the University of Oklahoma, and a Doctorate of Education from George Washington University.
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