Posted on 12/17/2014 5:39:45 AM PST by MichCapCon
Michigan State University trustees approved a salary increase from $520,000 to $750,000 for President Lou Anna Simon. The 44 percent base income raise, which also includes an annual $100,000 "retention bonus," came over her objections.
“This is not what I requested,” Simon said, according to MLive. “Trustee (Joel) Ferguson and other members of the board were very clear that they were my bosses in this regard and this is something that would be done at their request.”
ForTheRecord says: Trustees praised Simon for her “leadership and dedication” and said she “continues to excel on the board-established performance criteria (of her evaluations).” But that doesn’t explain a raise for someone who apparently has not threatened to leave or asked for a higher salary.
So why was the hike given? One potential explanation is that MSU trustees simply want to pay their president as much as the University of Michigan pays its president. From a January 2014 story from MLive:
“University of Michigan's next leader will make an annual base salary of $750,000 [with a $100,000 annual retention bonus] – putting him in the ranks of the highest paid public university leaders in the nation.”
(Excerpt) Read more at michigancapitolconfidential.com ...
I seriously doubt that is anything in Lou Anna Simon’s contract that prevents her from simply writing a check to the state of Michigan for that amount less the with held taxes.
Or she could donate the raise to a charity of her choice.
Pennies to doughnuts or donuts (your choice) that she sill not choose either option.
Basically, he/she will make the typical average that the Braves pay for their marginal second-baseman (any from the last twenty years).
University Gives President a $330K Raise She Doesn’t Want.....
....a salary increase from $520,000 to $750,000
Well, something doesn’t add up here
She could HIRE some people to work for her with that extra money
But that would probably be too close to showing capitalism works
She could give it to the government and THEY could hire someone (and keep 70% of the money for itself)
These “trustees” are not very trustworthy in their oversight of public funds.
If it were me I’d take the money and find a kid with the ability but not the means and give him or her a full boat scholarship.
Unfortunately the voters don’t care enough to change those trustees. They’re elected positions at both MSU and UofM.
Money for Nothin’....
https://www.youtube.com/watch?v=dlPjxz4LGak&list=RD8Pa9x9fZBtY&index=3
In the past, Simon has donated a significant part of her salary back to the university.
Perhaps she will do likewise again, although I'm inclined to agree with one of the commenters who suggested she give it to a privately supported institution that isn't supported by taxes that the spend-thrift public school administrators throw around so easily.
Your idea about a scholarship for a deserving kid is excellent as well.
It does when you add in the $100,000 annual retention bonus.
Maybe there is some political friend in the wings waiting for her to be forced out.
Or to retire, she ain’t no spring chicken.
This is nothing but another “pebble on the beach”, its is happening all over the country. Perhaps not as much money is involved at the other universities but is a pretty good pattern.
Ask yourself why students have to mortgage half their lives to pay off student loans, why it takes more than four years to complete degrees, the lists go on and on.
The students are the ones to pay and pay and pay for these “socialists” who say resent money.
I’ve always said that if I became a millionaire I would find an underprivileged kid with the ability and give them a full ride.
My stipulation is that they do 4 years at Hillsdale college and if they want to go into some hard sciences I’ll pay for that as well.
No worries-—paid for on the backs of the students tuition debt and/or the American taxpayers when the student loans go into default.
Now can we talk about those high tuitions?
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