Wednesday, October 26, 2005

the worldcom university?

So, let me understand this. American University decides its president, Benjamin Ladner, has been wasting university money on his own lifestyle-of-the-rich-if-not-quite-famous -- and then the Board of Trustees gives him a golden parachute worth over $3 million? And they allow him to resign instead of firing his luxury-loving, penny-pinching, imperial-university-presidency ass? They gave him this sweet deal even though he had no contractual claim on the university? I mean, he was essentially fired for cause. Isn't spending university money on his own personal stuff without permission basically THEFT?

Ladner shouldn't have a golden parachute -- Ladner should be charged with embezzlement and sued by the school to repay the funds he misappropriated. No wonder the faculties of several AU schools have publicly disagreed with this action.

There has been a growing tendency over the past thirty years for universities to grow more "corporate" in their approach. Congratulations, AU -- you have done the same. This is like a compensation committee of a corporation composed of cronies of the CEO voting the CEO a nice fat juicy raise -- and then a bloated severance package when they finally have to fire the incompetent and possibly criminal son-of-a-bitch.