(05-24-2021 09:03 AM)Ourland Wrote:  

(05-24-2021 07:55 AM)tanqtonic Wrote:  

(05-23-2021 11:28 PM)Ourland Wrote:  

(05-23-2021 05:40 PM)ExcitedOwl18 Wrote:  

(05-23-2021 05:01 PM)Ourland Wrote:  Thank God Rice doesn't need a mega-donor. It has $6 billion of it's own cash in hand.

Rice doesn’t have $6B in cash.. Yes, we have a lot of money but a lot of the money is in 1) non-liquid assets and/or 2) endowments with specific uses.

That may be the case, but the university has more than enough money on hand to spend on whatever purposes it wishes. If not, it can access that cash very quickly. Simply stated, it has more than enough to make up for it's lack of athletics donors.

Only if you completely disregard the fiduciary duty of the BOT.

Correct, the point being that hundreds of millions can be accessed by that body in a matter of weeks.

I dont think that, given the state of Rice Athletics, that one can make a really good case that expenditures of anything more than the equivalent of NCAA milk money would be easily characterized as with the fiduciary duty of the BOT.

Look, I *wish* more would be spent --- but the simple fact is that the fiduciary duty of the BOT is much tighter and far far more conservative than the corresponding duty of a Board of Directors at a company.

So, while there is a passel of assets, the proper expenditure of such mere 100's of millions of dollars is a far cry different than if a corporate entity had such assets just sitting around. Sorry, that is the stark reality (even as much I would want more assets tossed into the mix, mind you).