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(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

I think I know where that other $10 mil was spent on at IU this year.

(04-06-2021 07:59 AM)RuckleSt Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

I think I know where that other $10 mil was spent on at IU this year.

The future UC basketball coach?

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

Did they plan to rename the University after your colleague? If they were giving $20mm annually (or even pledged that much), that kind of gift would be by far and away the largest in IU's history!

(04-06-2021 06:52 AM)rath v2.0 Wrote:  They’d find it if they needed to. But they don’t need to yet. The endowment use has rules for use...but it does have break glass in case of emergency provisions...if the endowment made just 1% annually the daily interest would pay for a 5 million buyout in about 2 weeks.

Not to be that guy, but you're off by a factor of 10 here somewhere. UC's endowment is only $1.4bn. It would take an endowment of $13 billion to generate enough return to pay off a $5 million buyout in 2 weeks at 1%.

I was joking to make a point. Lord help us, you are that guy.

I’ll bust a calculator out next time after I verify how much is in the endowment.

I bet someone is fun at parties...

(04-06-2021 11:28 AM)rath v2.0 Wrote:  I was joking to make a point. Lord help us, you are that guy.

I’ll bust a calculator out next time after I verify how much is in the endowment.

Lol...I'll be the first to admit, sometimes I kinda like being that guy

(04-06-2021 11:32 AM)Bearcat419 Wrote:  I bet someone is fun at parties...

You'd be amazed! Chicks dig math (at least once they're out of school )

(04-06-2021 11:28 AM)rath v2.0 Wrote:  I was joking to make a point. Lord help us, you are that guy.

I’ll bust a calculator out next time after I verify how much is in the endowment.

Don't act like you have a calculator. You'll be working it out using a stick in the snow or a knife on sugar maple bark.

(04-06-2021 11:20 AM)Baleen Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

Did they plan to rename the University after your colleague? If they were giving $20mm annually (or even pledged that much), that kind of gift would be by far and away the largest in IU's history!

There are multiple buildings and the honors school named after him - Edward L. Hutton. He passed away in 2009 and, yes, he is the biggest benefactor in IU’s history.

Fwiw, Cunningham just said on 700 "stooge report" he got a tip tomorrow is D day for the Uc coaching situation.

(04-06-2021 12:36 PM)QSECOFR Wrote:  

(04-06-2021 11:20 AM)Baleen Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

Did they plan to rename the University after your colleague? If they were giving $20mm annually (or even pledged that much), that kind of gift would be by far and away the largest in IU's history!

There are multiple buildings and the honors school named after him - Edward L. Hutton. He passed away in 2009 and, yes, he is the biggest benefactor in IU’s history.

His companies really took a turn for the worse after he passed. Omnicare's been sued by the feds for over 100 million.

(04-06-2021 12:54 PM)dsquare Wrote:  Fwiw, Cunningham just said on 700 "stooge report" he got a tip tomorrow is D day for the Uc coaching situation.

I'm amazed he would lower himself to reporting on UC.

(04-06-2021 01:18 PM)crex043 Wrote:  

(04-06-2021 12:54 PM)dsquare Wrote:  Fwiw, Cunningham just said on 700 "stooge report" he got a tip tomorrow is D day for the Uc coaching situation.

I'm amazed he would lower himself to reporting on UC.

He did follow it up with the question "Why would you go play basketball at UC when you could play at Xavier?"

(04-06-2021 01:28 PM)Cat-Man Wrote:  

(04-06-2021 01:18 PM)crex043 Wrote:  

(04-06-2021 12:54 PM)dsquare Wrote:  Fwiw, Cunningham just said on 700 "stooge report" he got a tip tomorrow is D day for the Uc coaching situation.

I'm amazed he would lower himself to reporting on UC.

He did follow it up with the question "Why would you go play basketball at UC when you could play at Xavier?"

Assuming Willie and not John.

(04-06-2021 01:28 PM)Cat-Man Wrote:  

(04-06-2021 01:18 PM)crex043 Wrote:  

(04-06-2021 12:54 PM)dsquare Wrote:  Fwiw, Cunningham just said on 700 "stooge report" he got a tip tomorrow is D day for the Uc coaching situation.

I'm amazed he would lower himself to reporting on UC.

He did follow it up with the question "Why would you go play basketball at UC when you could play at Xavier?"

Don’t let Willie’s shtick fool you, he attends UC games all the time. He knows we move the needle, therefore he throws out barbs to rile people up.

(04-06-2021 07:59 AM)RuckleSt Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  

(04-05-2021 09:04 PM)rath v2.0 Wrote:  Not being able to afford something is different than not wanting to afford something. UC has $5 mill in the couch cushions if it really needs it. It’s a rounding error in the budget.

Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

I think I know where that other $10 mil was spent on at IU this year.

For that kind of money you get a school named for you. About a year ago a lawyer at KMK who I have worked with on investments gave UK $40 million and suddenly the J. David Rosenberg School of Law came about.

(04-06-2021 12:54 PM)skylinecat Wrote:  

(04-06-2021 12:36 PM)QSECOFR Wrote:  

(04-06-2021 11:20 AM)Baleen Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  

(04-05-2021 10:35 PM)BearcatMan Wrote:  Ehhhh...sure...they could cut a department in A&S to fund a buyout for a coach if they wanted to, but it's not like there is just a load of unspoken for cash in an institutional budget. Everyone throws "but the endowment!" around...but you can't really pull money from endowed funds without renegotiating fund agreements with the donor, and im not sure many would be appreciative of their millions going to firing a guy as opposed to what they wanted it to go to. I had to sit in a fund agreement restructuring meeting last summer with a major, established donor who was about to pull all of his money because it was being reassigned from naming a room to float funding salaries for 12 employees' salaries for the next 3 years...it'snot easy to convince someone to destroy their vision for the sake of firing a guy. Sure, they could have a bounded surplus to pull from based on their portfolio's real return vs. expected return in the last year, but I doubt there is $5M in there either with all of the earmarked done to try to stretch budgets this past year. With the haircut so many departments took with their budgets this year, I'm not certain that money could be found without hurting a lot of people to do it.

Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

Did they plan to rename the University after your colleague? If they were giving $20mm annually (or even pledged that much), that kind of gift would be by far and away the largest in IU's history!

There are multiple buildings and the honors school named after him - Edward L. Hutton. He passed away in 2009 and, yes, he is the biggest benefactor in IU’s history.

His companies really took a turn for the worse after he passed. Omnicare's been sued by the feds for over 100 million.

Mr. Hutton founded 2 Fortune 500 companies. After he passed away, CHE stock went from approximately $16 per share (pre-split) to $481 per share (pre-pandemic). CHE divested itself of OCR before he passed. A few years ago, it was sold to CVS for $12.5 billion. Kevin McNamara and the senior management team at CHE has performed wonderfully based on the foundation set up by Mr. Hutton.

(04-06-2021 02:17 PM)QSECOFR Wrote:  

(04-06-2021 12:54 PM)skylinecat Wrote:  

(04-06-2021 12:36 PM)QSECOFR Wrote:  

(04-06-2021 11:20 AM)Baleen Wrote:  

(04-05-2021 10:52 PM)QSECOFR Wrote:  Many donations are spoken for (e.g., a wad of cash for CCM). Many donations are not designated such that they can be used for any purpose the university desires. I am willing to bet that there is far more than $5mm available in discretionary endowment funds.

Someone I used to work with gave $20mm to IU every year. $10mm was earmarked and the other $10mm wasn’t.

Did they plan to rename the University after your colleague? If they were giving $20mm annually (or even pledged that much), that kind of gift would be by far and away the largest in IU's history!

There are multiple buildings and the honors school named after him - Edward L. Hutton. He passed away in 2009 and, yes, he is the biggest benefactor in IU’s history.

His companies really took a turn for the worse after he passed. Omnicare's been sued by the feds for over 100 million.

Mr. Hutton founded 2 Fortune 500 companies. After he passed away, CHE stock went from approximately $16 per share (pre-split) to $481 per share (pre-pandemic). CHE divested itself of OCR before he passed. A few years ago, it was sold to CVS for $12.5 billion. Kevin McNamara and the senior management team at CHE has performed wonderfully based on the foundation set up by Mr. Hutton.

Wow! I know Kevin well from my previous life (I helped take one of his previous companies public). Are you still in touch with him?

(04-06-2021 11:27 AM)Baleen Wrote:  

(04-06-2021 06:52 AM)rath v2.0 Wrote:  They’d find it if they needed to. But they don’t need to yet. The endowment use has rules for use...but it does have break glass in case of emergency provisions...if the endowment made just 1% annually the daily interest would pay for a 5 million buyout in about 2 weeks.

Not to be that guy, but you're off by a factor of 10 here somewhere. UC's endowment is only $1.4bn. It would take an endowment of $13 billion to generate enough return to pay off a $5 million buyout in 2 weeks at 1%.

As far as I'm concerned, we could use more guys like you. Keep being that guy.