CSNbbs

I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

i'll donate mine to ODAF.

Looks like the Ponzi scheme is finally collapsing. Unfortunately Wood will use Covid as his scapegoat and Baghdad Bob (Harry Minium) as his propagandist and probably keep his job.

(08-11-2020 10:27 AM)EverRespect Wrote: [ -> ]Looks like the Ponzi scheme is finally collapsing. Unfortunately Wood will use Covid as his scapegoat and Baghdad Bob (Harry Minium) as his propagandist and probably keep his job.

This Ponzi scheme is not just about ODU. This is most of college football. What has been built was unsustainable. The chickens are now coming home to roost.

(08-11-2020 10:30 AM)ODUCoach Wrote: [ -> ]

(08-11-2020 10:27 AM)EverRespect Wrote: [ -> ]Looks like the Ponzi scheme is finally collapsing. Unfortunately Wood will use Covid as his scapegoat and Baghdad Bob (Harry Minium) as his propagandist and probably keep his job.

This Ponzi scheme is not just about ODU. This is most of college football. What has been built was unsustainable. The chickens are now coming home to roost.

Probably true. I feel like if the state doesn't bail us out (or allow us to bail ourselves out by co-mingling funds) our FBS days are over. Not sure there will be any political will at this time to bail out sports from an academic institution. Hope I'm wrong.

(08-11-2020 10:27 AM)EverRespect Wrote: [ -> ]Looks like the Ponzi scheme is finally collapsing. Unfortunately Wood will use Covid as his scapegoat and Baghdad Bob (Harry Minium) as his propagandist and probably keep his job.

DON'T FORGET PRESIDENT BRODERICK. IT'S HIS LAST YEAR BEFORE RETIREMENT. HE IS A GREAT BACKER OF ODU SPORTS! NEED BIG GIVER'S

(08-11-2020 12:06 PM)bluelight Wrote: [ -> ]

(08-11-2020 10:27 AM)EverRespect Wrote: [ -> ]Looks like the Ponzi scheme is finally collapsing. Unfortunately Wood will use Covid as his scapegoat and Baghdad Bob (Harry Minium) as his propagandist and probably keep his job.

DON'T FORGET PRESIDENT BRODERICK. IT'S HIS LAST YEAR BEFORE RETIREMENT. HE IS A GREAT BACKER OF ODU SPORTS! NEED BIG GIVER'S

Throw some at Fifth Quarter.



I’m kidding.

(08-11-2020 03:44 PM)ReeseBecker Wrote: [ -> ]Throw some at Fifth Quarter.



I’m kidding.

By the way, other college AD and President's have made cuts from their salary month's ago!

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

(08-11-2020 08:08 PM)Gilesfan Wrote: [ -> ]

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

As it stands right now, they are not.

(08-12-2020 06:18 AM)757ODU Wrote: [ -> ]

(08-11-2020 08:08 PM)Gilesfan Wrote: [ -> ]

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

As it stands right now, they are not.

Wood said they would announce the cuts once they fully know the loss. Let’s see how they follow through.

I've been warning ODAF and Wood (to a far lesser extent) that not having a long-term giving program in place was reckless and short-sighted. I tried (and thought I had succeeded) at helping them start a program that rewarded life insurance policies and posthumous giving with points while you're alive. With our old AF fan base, I thought this plan was a no brainer. They totally bungled the program and reneged on any meaningful reward for posthumous giving while the donor is alive and able to enjoy the benefits. I was told the "higher ups" which I assume are the leadership at ODAF and the AD were not interested in delayed donations and would only reward (significantly lower) donations in the near term.

To put the difference into perspective, I offered ODU a $750k whole life insurance plan that would generate cash after 12 years of roughly $10k/year deescalating payments across 12 years. After 12 years, I wouldn't have to pay anything out of pocket. It would have cost me roughly $50k over the 12 year period, and ODU would eventually get $750k in return...plus the cash the policy generated after the 12 year break even point.

This really sounded like a no-brainer. I (and several members of ODAF) thought this was an ingenious way to generate a windfall of cash for the program as our aging fanbase started to pass away. It would give ODU long-term stability and a quick path to be able to spend like the big boys. It was shut down, presumably, by short-sighted leadership at ODAF and the AD. And here we are. No long-term vision leads to problems in the future. The future is now. Our problems are possibly insurmountable. This falls squarely on the leadership at ODU over the last 15-20 years.

(08-12-2020 09:19 AM)T-Mac Wrote: [ -> ]I've been warning ODAF and Wood (to a far lesser extent) that not having a long-term giving program in place was reckless and short-sighted. I tried (and thought I had succeeded) at helping them start a program that rewarded life insurance policies and posthumous giving with points while you're alive. With our old AF fan base, I thought this plan was a no brainer. They totally bungled the program and reneged on any meaningful reward for posthumous giving while the donor is alive and able to enjoy the benefits. I was told the "higher ups" which I assume are the leadership at ODAF and the AD were not interested in delayed donations and would only reward (significantly lower) donations in the near term.

To put the difference into perspective, I offered ODU a $750k whole life insurance plan that would generate cash after 12 years of roughly $10k/year deescalating payments across 12 years. After 12 years, I wouldn't have to pay anything out of pocket. It would have cost me roughly $50k over the 12 year period, and ODU would eventually get $750k in return...plus the cash the policy generated after the 12 year break even point.

This really sounded like a no-brainer. I (and several members of ODAF) thought this was an ingenious way to generate a windfall of cash for the program as our aging fanbase started to pass away. It would give ODU long-term stability and a quick path to be able to spend like the big boys. It was shut down, presumably, by short-sighted leadership at ODAF and the AD. And here we are. No long-term vision leads to problems in the future. The future is now. Our problems are possibly insurmountable. This falls squarely on the leadership at ODU over the last 15-20 years.

I remember you posted that idea a long time ago and thought it was brilliant and even at 40 I would have entertained that! The younger you are the better life insurance policy you can get long-term anyway right? Seems like such a no-brainer. I bet there was a core group that really wanted to maintain their top spot status that thought they'd miss out on their "perks" of being the top brass in giving. Didn't want others swimming in their pool. But I would love to hear the exact reason behind not at least entertaining it for a select few to see how it worked out.

(08-12-2020 09:19 AM)T-Mac Wrote: [ -> ]I've been warning ODAF and Wood (to a far lesser extent) that not having a long-term giving program in place was reckless and short-sighted. I tried (and thought I had succeeded) at helping them start a program that rewarded life insurance policies and posthumous giving with points while you're alive. With our old AF fan base, I thought this plan was a no brainer. They totally bungled the program and reneged on any meaningful reward for posthumous giving while the donor is alive and able to enjoy the benefits. I was told the "higher ups" which I assume are the leadership at ODAF and the AD were not interested in delayed donations and would only reward (significantly lower) donations in the near term.

To put the difference into perspective, I offered ODU a $750k whole life insurance plan that would generate cash after 12 years of roughly $10k/year deescalating payments across 12 years. After 12 years, I wouldn't have to pay anything out of pocket. It would have cost me roughly $50k over the 12 year period, and ODU would eventually get $750k in return...plus the cash the policy generated after the 12 year break even point.

This really sounded like a no-brainer. I (and several members of ODAF) thought this was an ingenious way to generate a windfall of cash for the program as our aging fanbase started to pass away. It would give ODU long-term stability and a quick path to be able to spend like the big boys. It was shut down, presumably, by short-sighted leadership at ODAF and the AD. And here we are. No long-term vision leads to problems in the future. The future is now. Our problems are possibly insurmountable. This falls squarely on the leadership at ODU over the last 15-20 years.

I tried something similar after a close call with cancer left me unable to give for a year. I told them death was the only guarantee in life but they didn't care to respond

(08-12-2020 06:18 AM)757ODU Wrote: [ -> ]

(08-11-2020 08:08 PM)Gilesfan Wrote: [ -> ]

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

As it stands right now, they are not.

In all cases, when the ad's and president's are taking cuts it is made public because it shows good faith among the college. It shows these high paid people, are doing this for the good of the college and shortfall.

(08-12-2020 03:39 PM)bluelight Wrote: [ -> ]

(08-12-2020 06:18 AM)757ODU Wrote: [ -> ]

(08-11-2020 08:08 PM)Gilesfan Wrote: [ -> ]

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

As it stands right now, they are not.

In all cases, when the ad's and president's are taking cuts it is made public because it shows good faith among the college. It shows these high paid people, are doing this for the good of the college and shortfall.

Yes, "high paid people" (and many others as well) will be getting cuts at all levels & departments across the university. From what I've been told, the intent is to make an announcement that would be as detailed as possible, as opposed to several "mini" announcements when different cuts were executed.

(08-12-2020 04:00 PM)Nukesquad Wrote: [ -> ]

(08-12-2020 03:39 PM)bluelight Wrote: [ -> ]

(08-12-2020 06:18 AM)757ODU Wrote: [ -> ]

(08-11-2020 08:08 PM)Gilesfan Wrote: [ -> ]

(08-11-2020 10:23 AM)bluelight Wrote: [ -> ]I read an article from Harry this morning, talking about no ODU football this fall. To me the laughable part was the statement, by AD Wood Selig. He ask fans to differ their season ticket money, to the ODAF. I understand why there will be no football, but I don't understand why Wood Selig and President Broderick, can't take a pay cut for this year, like other colleges have done. Even if we have basketball, I am not sure how many fans would be approved, to attend.

Who said they aren't taking a pay cut?

As it stands right now, they are not.

In all cases, when the ad's and president's are taking cuts it is made public because it shows good faith among the college. It shows these high paid people, are doing this for the good of the college and shortfall.

Yes, "high paid people" (and many others as well) will be getting cuts at all levels & departments across the university. From what I've been told, the intent is to make an announcement that would be as detailed as possible, as opposed to several "mini" announcements when different cuts were executed.

Sports wise, the ad and president have known about this shortfall since April. It is BS where other colleges have made cuts long ago and our rich AD and President are still siting on their overpaid income. Face realty, our programs are going down. I do see an improvement in Football, because we have a young staff that can relate to the kids, and known how to get 3 stars.

(08-11-2020 10:25 AM)ODUODUODU Wrote: [ -> ]i'll donate mine to ODAF.

Yeah....Me too. I'll donate the cost of my season ticket for football.

(08-13-2020 05:45 PM)Old Blue Wrote: [ -> ]

(08-11-2020 10:25 AM)ODUODUODU Wrote: [ -> ]i'll donate mine to ODAF.

Yeah....Me too. I'll donate the cost of my season ticket for football.

Doing the same.