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University of Michigan projects $400m to $1 Billion loss for 2020
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domer1978 Online
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Post: #21
RE: University of Michigan projects $400m to $1 Billion loss for 2020
(04-21-2020 10:08 PM)sierrajip Wrote:  
(04-21-2020 07:24 AM)quo vadis Wrote:  
(04-20-2020 03:25 PM)domer1978 Wrote:  Ann Arbor better get on that street corner and make some money like she usually does.

Aw man, come on. Sheesh.

05-nono

OK. I"m ashamed. I thought it was funny.
It was rude of me.. I am going to edit.
04-21-2020 11:38 PM
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Captain Bearcat Offline
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Post: #22
RE: University of Michigan projects $400m to $1 Billion loss for 2020
My take - "$400 million to $1 billion" includes losses on the principle of the endowment.

It also includes losses from having empty dorms, i.e. the real estate side of the university.

Operational losses at the main educational campus will be a tiny fraction of this.

Whenever management is announcing pay cuts, there's a tendency to try to exaggerate the depth of the financial problems in order to convince the employees that the cuts are necessary.
(This post was last modified: 04-22-2020 07:35 AM by Captain Bearcat.)
04-22-2020 07:33 AM
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Renandpat Offline
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Post: #23
RE: University of Michigan projects $400m to $1 Billion loss for 2020
(04-22-2020 07:33 AM)Captain Bearcat Wrote:  My take - "$400 million to $1 billion" includes losses on the principle of the endowment.

It also includes losses from having empty dorms, i.e. the real estate side of the university.

Operational losses at the main educational campus will be a tiny fraction of this.

Whenever management is announcing pay cuts, there's a tendency to try to exaggerate the depth of the financial problems in order to convince the employees that the cuts are necessary.

It also includes the Development/Fundraising Office as 43% of college fundraisers do not expect to meet their fiscal year goals.
04-22-2020 08:34 AM
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quo vadis Online
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Post: #24
RE: University of Michigan projects $400m to $1 Billion loss for 2020
(04-22-2020 07:33 AM)Captain Bearcat Wrote:  My take - "$400 million to $1 billion" includes losses on the principle of the endowment.

It also includes losses from having empty dorms, i.e. the real estate side of the university.

Operational losses at the main educational campus will be a tiny fraction of this.

Whenever management is announcing pay cuts, there's a tendency to try to exaggerate the depth of the financial problems in order to convince the employees that the cuts are necessary.

We'll see. Obviously an estimate with such a broad range is clearly one with lots of uncertainty still around it.

The main thing that suggests the situation isn't quite that dire is the nature of the cuts. Compared to what Arizona and Wisconsin are doing, the Michigan staffers are getting off light.
04-22-2020 08:59 AM
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Bronco'14 Online
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Post: #25
RE: University of Michigan projects $400m to $1 Billion loss for 2020
They're the last ones that should get a stimulus. They **** gold.
04-22-2020 07:51 PM
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Wedge Offline
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Post: #26
RE: University of Michigan projects $400m to $1 Billion loss for 2020
04-24-2020 10:35 AM
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