Posted on 09/20/2020 4:27:59 PM PDT by CheshireTheCat
As bad as the COVID-19 lockdown has been in any number of sectors of the US economy, colleges and universities have been hit particularly hard. Restaurants and movie theaters have physical plants that continue to cost them money regardless of whether they are serving food or showing movies. Hotels have it even worse, because they are far more expensive to maintain. But colleges and universities have it worse still. Their physical plants include not only housing and dining facilities, but also recreation areas, classrooms, and expansive grounds. In addition, colleges and universities have staff that often number hundreds of times that of hotels.
Unlike restaurants, movie theaters, and hotels, colleges and universities do have the ability to offer their product remotely. Students with their faces planted firmly into Zoom calls have become the new normal pretty quickly. But when a quarter to almost half of a university’s income comes from room and board, it becomes pretty clear pretty quickly that those Zoom classes are gutting college and university revenue streams.
Making matters worse, foreign students are staying home in droves because of both the virus and US policy. This might not sound like much, but universities obtain more than twice the revenue from the typical foreign student than from the typical American student. Foreign students have been subsidizing American students for years. And now they aren’t.
The upshot of all of this, according to NYU marketing professor Scott Galloway, is rather disconcerting. In examining some 442 US universities, Galloway estimates that more than 20 percent could fail because of the lockdowns, and that another 30 percent will struggle to remain open. That’s 50 percent of US colleges and universities at very serious (or mortal) risk...
(Excerpt) Read more at theohiostar.com ...
Not to worry. The CCP owns them anyway. They’ll get a CCP bailout.
For once, there’s some positive news out there!
What is the bad news?
Only 20%? It should be much higher.
Thousands of Marxist professors out of work sounds good !
They can deliver pizza or deliver for Amazon.
Professors ought to be working on their Water Safety Instruction certification from the Red Cross. At least, when their University goes tits up, they can teach swimming lessons.
The silver lining. A lot of public school districts will also be on shaky financial ground. Maybe in desperation, they might try educating again instead of indoctrinating.
Learn to code!
And the good news keeps coming.
Bump
NYU, is this the University that costs 73K and threw a virtual student out for going to a rooftop party?
That NYU...
After class you could learn to play bongos and learn to crack a safe too.
So.. he makes it sound like it’s a BAD thing.
Aw, poor babies... I hear there are some teacher jobs opening up. Overpaid, underlearned, educators should retrain and apply.
GREAT! Couldn’t happen to a more corrupt set of institutions!
I can’t wait! Too many need to go under.
My wife and I haven’t donated to Alumni Funds for many years. Too many liberal things going on and there’s no way I want my money to help the “disadvantaged” who already get everything free I had to pay for out of my own pocket from a job, which prolonged my graduations by years.
Die, Commie Scum!
Protect STEM programs, Business, Trades
And as usual there are people on free republic trying to spin everything as bad news :-) just a handful of the most miserable bunch of people I’ve ever met :-)
“Trump won’t be able to get 50 senators. China will bail out these higher institutions. Biden will win. The moon will crash into the Earth.”
You got to love them :-). Trump will win. We will get the supreme Court nomination. Higher education schools will tumble and I think it will be more than 20%.
A lot of good news this weekend
That’s a shame. /Seinfeld.
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