Is the Present a Harbinger of the Future for Our Youth?

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Vast number of Americans live paycheck to paycheck

"Robots Can't Feed Toddlers" - Not Yet Anyway!!

A Ticket to the Good Life???

I happened to notice the "U,S, Consumer Debt Profile" in the newspaper the other day (It is shown below). I calculated the monthly payments required for each debt and added a debt payment required for a car loan. 

It appears that the typical middle class person (a college graduate) will see $1710 regularly consumed from his monthly paycheck by these ongoing obligations. This will require a pretax income of $28,160 (assuming a federal tax bracket of 25% and not considering FICA, unemployment, pension, health care contributions and state tax withholdings). 

The average starting salary for a college graduate is $45,327. His salary in five years will be $50,044 (calculated at a compounded rate of 2% per year which is the typical rate of  salary increase). This leaves $16,413 after federal taxes but again not including the aforementioned withholdings. 

This is $1367 monthly or about $300 weekly left for retirement savings, child rearing, food, clothing, utilities, insurance, education and other essentials?

Some average tradesman salaries (and remember - no college debt and they have been earning during the four to six years while college students spend at school)

Plumbers -- averaging $52,390 per year.

Nonresidential construction workers averaged $48,330.

Brick layers $54,000.

Am I suggesting that students should abandon the idea of a college education? Not at all - but I am suggesting that it shouldn't necessarily be viewed as a "ticket to the good life" (with a gigantic price tag) as it once was! 

Living Life in a Bubble

In a recent conversation with my son's friend I was surprised when he told me that he was still paying a student loan debt of $600 per month. I was surprised because he is 38 years old and I assumed that student loans would be long paid off by this age - 15 years after graduation that is!

Well, my assumption was obviously wrong and then a short time later I saw the article below. It appears that the plight of my son's friend is far from unusual.

After reading the article I began to think about the recent housing market bubble. It was kind of the same thing in that people were loaned vast sums of money without regard as to whether they could really handle the debt. But then I began to realize maybe the student loan problem is even worse! The housing debacle at least had some collateral behind it even if it was poor collateral it was better than none. What collateral do student loans have?

You might say that the projected income after graduation is the collateral but my further reading on the subject revealed that only 16% of the degrees obtained are in the highly employable STEM areas.  A large portion of the rest is in fields that have poor employment prospects and are likely to leave those graduates unable to pay off their loans. Additionally, only two kinds of debt are immune from discharge in bankruptcy, taxes and student loans and therefore I  wonder if they can even be legally written off by the issuer? This means that these loans will follow individuals for a lifetime (continually accumulating interest) until they are fully paid.

If the housing problem was called a "bubble" what term can be used to accurately describe this? I don't think "bubble" will do! How about "economic Armageddon"?

After thinking about all this for a while it occurred to me that maybe all my dread is unwarranted. The advent of on line learning could come to the rescue. College costs should surely plummet when students can take course at home with no classroom or actual instructor required.

Well, I'm wrong again!

Look at the article below this one describing the cost of on line course at SNHU, a highly advertised New England college.

Coming Soon to a Commencement Near You - The Rolling Stones !

$140K per Hour and She'd be Underpaid !!

The cost of a college degree in the United States has increased "12 fold" over the past 30 years, far outpacing the price inflation of consumer goods, medical expenses and food.

According to Bloomberg, college tuition and fees have increased 1,120 percent since records began in 1978.

The average debt owed by New Jersey college graduates in 2012 was $29,287, according to the Project on Student Debt 2012. That’s up from an average of $27,610 in 2011 and $23,792 in 2010.

Most of New Jersey’s public colleges and universities do not pay their commencement speakers, though they often cover their travel expenses. Rutgers recently began paying speakers $30,000 to $35,000 in a bid to attract bigger names to its ceremony. The money comes from donations to the university’s foundation, not tuition or state funding, Rutgers officials said.*

Rice was scheduled to receive $35,000 for her Rutgers speech before she bowed out. (The speech was planned for 15 minutes - that's $140,000 per hour.) Kean, her replacement, has turned down the fee and Rutgers has not said if LeGrand will be paid for his remarks.

Kean University has also paid its speakers in recent years. Musician John Legend earned $25,000 in 2011 for a 15-minute speech and the performance of two songs. In 2006, Kean paid filmmaker Spike Lee $25,000 for a 10-minute graduation address (that's $150,000 per hour).

New Jersey colleges seem to want to give away over two years of tuition for a typical undergraduate student so as to have a "Big Name" commencement speaker? I think this shows the height of  arrogance and total disregard for the students who struggle to pay the exorbitant tuitions and fees these school demand.

*Should such donations be used to line the pockets of "Big Name" fifteen minute speakers? I certainly think it would be better used to help lower tuition costs if even just an iota! They say that university foundations pay the speaker fees?  Does that mean that when I get phone calls for contributions to Rutger's Foundations I  was being asked to contribute to this pompous folly.? I had no idea that might be the case!

Had I known I surely would not have contributed as I have done over the past fifteen years. The next time I am called I will be sure to ask if any of my money will be eligible for the "Big Name" speaker program? If  the answer is "yes" - I will just simply hang up the phone!

"Free Speech" - I Don't Think So!

"Her grandfather was a sharecropper" - my grandfather was in the Prussian Army -  "So what ??"

Ms. Rice is to be paid $35,000 plus expenses for this commencement address!
Does that sound like "free speech"?
And who is paying - RU students with tuition and fee costs that have risen almost 100% during the past decade (much paid with student loans).
Couldn't they find someone to give the address for free and award an honorary degree to that person as compensation?
How about Cory Booker?

Oh - wait a minute - I almost forgot!
He gave a commencement address at The College of New Jersey a year or two ago and charged $10,000 !
Well but at least he's cheaper -
Oh -wait a minute again - now that he's Senator Booker maybe he wouldn't be that cheap after all?
Maybe we could go with "The Governor"?
He's always talking about containing costs and saving taxpayer's money (unless it's being handed out to lawyers)!
I bet he would do it (if there was a free meal involved)!

Paid College Athletes - But Who's Paying??

The current controversy is now whether college athletes should be paid. The NCAA of course opposes this while many others laud it’s coming to pass.

Now I think we need an objective look at the situation. A starting point might be the question as to why colleges and universities need or even should have “big time” athletics.  A second question might be – what purpose do athletics serve at colleges and universities and what purpose should they serve?

A constant cry from those supporting “big time” college athletics is that they bring revenue to the school primarily from bowl games and the alumni. Does the amount of revenue received exceed the expenditures? Well in some cases yes and in many other cases no!

If the revenues received are so vast then shouldn’t the tuition rates at “big time” sports institutions be exceedingly low because of the dollars flowing into them via the sports programs? Looking   at the chart below, I noticed that Penn State for example receives millions of dollars from their sports programs yet the in-state tuition is one of the highest in the nation? The same seems to be true at other institutions with high caliber sports programs.

Let’s pretend that rules are instituted that call for the paying of college athletes- who will do the paying? Will it be the NCAA? I doubt it since this could severely impact the lucrative salaries of its executives

Will it be the NFL or NBA?  They have had the advantage of no cost “farm teams” at the expense of college and university students for decades. I am sure they would sorely object to begin paying for these programs. They never have and I don’t think they would be about to start!

Well, then whose left? It looks like tuition paying students and state taxpayers.

Getting back to the actual purpose of college sports, I always thought that it was a mechanism to allow young people to participate and learn the lessons of competition and healthful exercise during their college years. Instead the purpose at many institutions has become the grooming of players (most notably in football and basketball) for professional sports careers (or at least for an attempt at a professional sports career).

In conclusion I believe the only way to justifiably begin to pay college athletes is to require the NFL and the NBA to sponsor the “big time” teams and contribute to the programs as they should have been doing all along!  Adding to this logic is the fact that not only are these organizations getting free “farm teams” from the tuition and fee costs of college students they are also registered as “non profits” which gives them a significant tax break on top of it. Allowing college athletes to be paid without the aforementioned changes to the system would just be another scam foisted on the public.

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According to the College Board, the average cost of tuition and fees for the 2013-2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities.

Many of these school list large financial aid packages but – “Financial aid packages typically consist of several components that make up the entire financial aid award. Often, the financial aid package will include components with obligations, such as repayment, that the student and/or student’s family will need to fulfill. Understanding these individual components will help you understand which financial aid package (if you are comparing multiple options) provides the best benefit for you. The most common types of financial aid are grants, scholarships, loans, and work-study. Certain states also offer their own particular financial aid programs.”

 Some “big time” college tuitions – out of state / in state 

(* higher in state tuition than average) p= private

Boston College  $43,878 p

Duke University $43,623 p

University of Notre Dame $42,971 p

Stanford University   $42,225 p

University of Miami        $41,220 p

University of Michigan - Ann Arbor $40,392/ $12,994 *

St. John's University - New York $36,450 p

UCLA     $35,570/ $12,692 *

Syracuse University        $36,300 p

Boston College  $43,878 p

Duke University                $43,623 p

Clemson University         $30,004/ $13,076 *

Penn State          $28,746/ $16,444 *

Indiana University - Bloomington              $31,483/ $10,033 *

University of Georgia     $28,052/ $9842 *

UConn - Stamford           $27,190/ $9358 *

University of Iowa           $26,279/ $8057

University of South Carolina $27,644/ $10,488 *

RU Athletic Absurdity

RU has the second highest in-state tuition of all public universities in the U.S. Will the expected "financial bonanza" from joining the Big Ten result in lowered tuition rates? 

Will future athletic costs include million dollar payouts because a coach "bullied" a six foot five, two hundred and twenty pound, twenty-two year old by throwing a ball at him and pushing him into position (Couldn't he have just quit the team if he felt so threatened)?

Will future athletic budgets include the outrageous legal fees incurred (and on going) by new "bullying" incidents?

PS

I've done some soul searching during these long, cold winter days.

Why do I write this blog and why am I so concerned about all these education isssues? I've been out of the loop for ten years now! Maybe it's because, when people ask me what I did with my life, I would like  to say "I was a teacher" with pride and head held high?

With all the disdain for public education and teachers which continually fills the media day after day, it makes it hard for me to utter those words without a downward gaze. I would like to see the day when I can speak about my life's work without even a hint of  apology.

But every time I write one of these diatribes, I say to myself it should be my last!  

I should resolve to stop being so compulsive about commenting on the constant criticisms, teacher bashings and failed schemes proposed by education "experts" and politicians because it seems nothing I can do will ever change it. It only gets worse!

Then, the next day, when I pick up the paper or turn on the radio I immediately read or hear the kind of stuff that drives me back to this computer. I guess I just lack the self discipline required to control myself but I will continue to try, I promise. 

Wish me luck.

The Big (Con) Game

So here's  the way this works. Colleges and universities with outlandish tuition rates pour tons of money into sports programs so as to supply what are essentially farm teams for the Pros. To make matters even worse,  our public "institutions of higher learning" are eager to vie for the opportunity to participate in "pro grooming". 

Additionally, not only does the public provide these  free feeder programs  for Pro Athletics they also build pro sports stadiums and arenas with public funds ("Of the 20 stadiums built or renovated since 1997, all but one have used public money"- Charlotteobserver.com ).

Now to add insult to injury, these pro sports "Leagues and Associations" are non profit - tax exempt! What this means is they don't have to kick in a dime to public coffers, don't have to help support states and municipalities, schools or colleges. All they have to do is pay outrageous salaries to executives and keep shoveling the bullsh*t to the public. All we get  is  a constant stream of trivia about Eli, Lebron, Tiger,  A-rod etc. We don't hear much about Joe and Jane Student who are struggling to pay tuition and fees* required by the college co conspirators in this sports scam. 

I frequently watch "American Greed" on CNBC and most of the scams and swindlers portrayed are amateurs as compared to the  professional sports organizations.  
But, in conclusion, if the public keeps on loving the hype, who am I to complain?

* And for many they will continue to struggle to pay for decades due to student loans and for added punishment, students loans cannot be discharged via bankruptcy!

Lots Less for Lots More and No One Even Seems to Notice (Or Care)

When I attended college (which of course was many years ago) Semester I began the first week in September and extended to the third week of December during which a one week Christmas vacation was held. After that vacation we returned to school for three additional weeks.

After a one week break Semester II began during the first week of February and continued until mid-June with a one week Spring vacation at mid semester.

Today the college Semester I begins just prior to the first week in September and ends in the first week in December. Some schools even have a break additional to Thanksgiving that they euphemistically call a  “study break”.
(I kind of thought students were supposed to be studying throughout the entire semester?)

Semester II doesn’t begin until the last week in January and ends during the first week of May with a Spring break during March or early April.

Now I’ve done some calculations and based on my figures, students today receive a whole year’s less schooling over their four year college career than did students in earlier times.

Keep in mind that this diminished class comes at a cost of tens of thousands of dollars more than was paid in days prior. (Tens of thousands of dollars in real dollar terms that is).

I know most of you will find this hard to believe but the tuition at Montclair State when I was graduated was $150 per year. I believe the activity fee was $3 per semester!

Today, tuition and fees at MSU are $11,318. That is a 7545% increase for a significantly shortened school year.

I was graduated in 1965. That was 49 years ago. Using the 72 rule and assuming the average inflation rate over that period was 5%, the time for money to double is 14.4 years.  If we divide 49 by 14.4 we get 3.40. This means that $156 (I’m including activity fees) has doubled 3.4 times over the past 49 years to about $1650 (real dollars) not even close to $11,318 !

Why has this happened?

In the past, the State heavily subsidized college costs at its colleges and universities and gave the middle and lower classes a chance at education and success. It seems that this is no longer the case.

It appears that attention is being almost exclusively paid to public elementary and secondary education. Constant discussion of lengthening the school day, lengthening the school year, the cutting of pension costs and berating teachers, public education in general  and the exaltation of private education is in vogue. Nothing about the aforementioned college situation is even suggested.

Could it be that since much of the criticism and proposed improvement plans for public education come from college “experts” that they are at least in part, using all their banter as a distraction from their own failings.

Why is there no overt attempt to transfer public colleges into private ownership? The prevailing theory is that private operations always can be run more efficiently at lower cost and with better results!

Or maybe, the privatization of public elementary and secondary education can yield tons of money for politically connected corporations and investors where privatizing of public colleges cannot. Thus berating public schools is the set up for them being transferred to private hands with lessened public outcry and more profits to be gained.

A Smell Arises From the Trough at RU

The total cost of this "bullying" incident.

Skadden,Arps,Slate, Meagher & Flom   $   481,685
Connell Foley                                             $     64,000
Rice Settlement (Former coac                        $   475,000
Pernetti (former AD)                                   $1,200,000
New Basketball Coach*                              $5,000,000
Athletic Dir. Search                                     $     70,000
Crisis Management (?)**                              $   150,000
                                                                        ________
Total                                                                $7,440,685

*The five year contract for the new coach who has roughly a .330 win average.
** I am not for "bullying" anyone but a coach throwing a ball and yelling at a twenty something person who stands over six feet tall and weighs near two hundred pounds;I don't know if I would call this "bullying"? Does this really rise to the level of "crisis"??
Is this person being "bullied" or simply being subjected to a coach's mature tantrum. If the "bullied" person was so offended, couldn't he just have said "I quit" and leave the team? 
Does RU really have to spend this exorbitant amount of money (BTW it is our money, the taxpayers of NJ) to cure the problem.
Why do we have to shovel all this money to high priced lawyers and companies to correct this "bullying" incident?
Is it possible that a word or two to the coach and the athletic director could have sufficed?
Well, I guess not, probably because then all the aforementioned would not be in line to receive the outlandish payouts that were awarded!
--------------------------------
And while I'm at it, how about some other RU payouts and financial irregularities occurring over the recent past.

The former president of RU (McCormick) retires and as part of his "contract" comes back to teach 15 credit hours per semester at a salary of $315,000 per year!
The football stadium is renovated at a cost of $108,000,000 and has never been sold out since (not even close). Some of the cost has been obtained from donors but not that much. The rest was financed via bonds and of course RU (us) must pay the interest.
The present president (Barchi) receives a salary of over $600,000 per year and I don't really consider that a problem, it's a big job.
But - he also sits on Boards of Directors that do business with RU and is paid over $300,000 by them. 
Our Governor does not sees a conflict of interest here! 
He must have a serious vision problem or an inordinate amount of faith in the integrity of both Barchi and the companies !!!
I don't know about you, but for me, much of this has a very bad smell !
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And meanwhile, tuition and fees* continue to rise. 
* A back door way of extracting even more money from students without calling it a tuition increase. 
Orwellian Newspeak at its best!

A New Staff Member Joins Rutgers Faculty - Robo Prof !

As usual, there are a lot of questions to be answered about any new privatization plan.
(1) Who hires those who will create the Internet lectures? Pearson or Rutgers?
(2) Will new lectures be recorded each year or will the same ones be used over and over?
(3) How will those lecturers be paid? A flat fee or on a residual basis each time the lecture is viewed?
(4) Will the cost of tuition be substantially reduced using this "online" teaching method?
(5) Will the executive payout at Pearson or any other private company that produces "online education" for Rutgers be held at reasonable levels?
(6) Will university admissions be unlimited since classroom seating space will no longer be a factor?
(7) Will "online" students be required to pay fees relating to on campus activities?
(8) How long will it be before "online education" filters down into secondary and elementary schools?
(9) What are the tenure implications when a large number of professors will be supplanted by "online education"?
(10) Will tenure play a part in the selection of those who will teach the "online" courses?
(11) Will the lectures be live or recorded?
(12) If recorded, who will have the rights to the recordings, Pearson, Rutgers or the professor?

You Are Kidding??

I'm absolutely amazed by the ignorance of "smart" people running for public office.
Here's a guy that says, just ask your parent for college tuition money ??
Sure, "Hey Dad you got an extra $200K laying around you could give me?"
If he didn't realize the stupidity of the statement before he said it, all he had to do is look at how well that exact comment worked out for his Republican colleague, Romney.
However, to his credit he doesn't hesitate when supporting a change in federal marijuana laws.The current federal policy on marijuana use is a travesty in that it has destroyed the prospects of many young people before they even get started in life and all for no good reason.
On the other hand Mr. Booker says he wants a "national conversation" on marijuana. What the hell does he think has been going on for the past ten years??
The real reason that he wants a  "national conversation" is because he lacks the courage to make a clear statement as did Mr. Lonegan.
If he is elected to the Senate, will he require a "national conversation" on every controversial topic that is presented to him?

A Friend Just Sent This Email to Me

A friend just sent this email to me and I replied and thought that maybe you might be interested too -

BTW - What's your opinion ??

Email 

Walt,

What do you think of the proposal for the state to take part of your income in exchange for paying for your education.

Reply

C______,

It’s good to hear from you.

I’m flattered that you ask for my opinion.

As to my feelings about the current plan, it’s just another mechanism to avoid confronting the real issue, “Why is college so expensive?”

When you and I went to school the tuition was but a fraction of what it is today. You might say “Sure but everything was cheaper too” but so were incomes and so that’s not a good excuse.

(See my previous article - Monday, August 12, 2013  - The College Loan Bubble - Toil and Trouble).

Back to the question you asked about the currently proposed scheme – any plan that indentures people for a lifetime to pay outlandish college costs, whether it be upfront or back door, doesn’t appeal to me at all !

All this will do, as the student loan program has done, is to encourage even higher tuitions and fees. The whole thing is similar to credit cards, which certainly have induced even more spending by consumers and allowed

prices to rise even more than the would have without them.

Thanks again for asking.

Walt

The College Loan Bubble - Toil and Trouble

Let me add a little personal, anecdotal history about college tuition in New Jersey.
In the early 60s when I graduated from high school I had no money for college. Consequently, I got a job as a carpenter's assistant for $1.25 per hour. When I finally accumulated enough money I applied to Montclair State College and was accepted.
The tuition rate was $75 per semester and I don't remember any additional fees being involved.
The reason I applied to MSC was because of the lower tuition, RU was somewhat higher but still not exorbitant by comparison. At the end of my four years, the tuition rate had not changed.
Many of my peers at MSC had applied for and received the State Scholarship which covered all their tuition costs. Since I did not enter college immediately after high school I did not qualify and never received its advantage.
But that is not my point.
How is it that now tuition rates throughout the state (and everywhere) are sky high ?
Why are students now required to saddle themselves with tens of thousands of dollars of debt ?
Who could work their way through college today ?
Why is the national Student Loan debt over a trillion dollars ?
I guess you might say inflation, things are much more expensive today but of course wages are much higher too so it all kind of evens out.
Well, I'm not so sure !
The average minimal wage in the early 60s was about what I was paid, maybe a bit higher, $1.50 - $1.75 per hour, Let's say today that wage is $10 per hour. This means it has increased roughly sevenfold. Certainly, seven times $150 (the yearly tuition at State schools in the 1960s) does not come close to today's rates and fees at these schools.
Am I saying that tuition today should be $1050 ? No, but it surely shouldn't be $10,000 either !
Now, how about the student loan situation ?
The recent furor over loan rates being raised resulted in their being capped (to some extent anyway) and people cheered. Not me !
I think the conversation should have been directed at why tuitions are so high and how they should be lowered. Instead, loan rates where lowered (I mean not raised as much) which simply encourages more borrowing.
To add insult to injury not only have the costs increased to dramatic heights, at the same time the school year has been sharply reduced.
In the 60s and before, the first semester started at the beginning of September and extended to mid January with a one week Christmas break. After the first semester was completed there was a one week intermission and the second semester began. The last day of the school year occurred the second week in June.
I've done some calculations and I find that today's college four year education is actually a full year short of that of the 1960s.
The bottom line -  lots less for lots more !
Another math exercise I did was to figure out the cost per hour of class time. At RU it is over $30 per hour (in state students). A ticket to a Broadway show which lasts for two and a half hours is about $75 (a reasonably good seat). You do the math !
And to make things even worse, many classes consist of hundreds of students, all herded into an auditorium with the professor appearing the size of a dime below. Questions from the students, I don't think so. Questions are reserved for the TAs, low cost graduate students trying to pay their own tuition bills.
My own college experience consisted of class sizes of twenty and less with student questions handled by the professor during class time. (And the professor was always available after class for more questions).
Is college today a scam on the middle class or is it just my cynicism showing through as usual ?

For What It's Worth??

I have many questions:
*************

Should RU continue its quest to become an athletic powerhouse?

And can this even be achieved ?

What is the true motivation behind  this attempt to bring "big time" sports to RU?

If accomplished will it really help the universities' prestige?
And if so, how ?

Is providing unpaid farm teams for the NFL and NBA a worthwhile goal for our State university?

Should the highest paid public employee in the State be the RU football or basketball coach?

What was the problem with RU remaining in the Patriot League in the first place?

Did RU  think it had to pump up its athletic image to attract more applications? 

How does high caliber athletics help to attract high caliber students?

How is a universities' "pride"  based on  its athletic program?

(BTW - what do they mean by a universities' "pride" anyway?)
************

As the song goes "Gimme some truth, all I want is the truth!"

A Picture is Worth a Thousand (Well Maybe Tens of Millions) of Words !

And most of them are hired to run what are essentially no cost “farm teams” for the NFL and NBA !

and BTW

NFL and NBA are “non profits” !!!!!

( In 2012 alone, the league paid approximately $53.8 million to its big -ticket execs, including $11.6 million to Commissioner Roger Goodell and $8.5 million to former Commissioner Paul Tagliabue, who replaced Rozelle in 1989 and ran the league until Goodell replaced him in 2006. In 2011, Goodell received a $22.3 million bonus after negotiating several enormously lucrative extensions with the television networks that provide the predominant percentage of the league's revenues.)

and BTW

RU is spending millions of taxpayer and student monies to eagerly join the “farm team” system.

and
RU tuition and fees have doubled in the past ten years!!

Talk About Waste

I read the following replies on the local message board pertaining to the granting of school insurance contracts to companies who doled out campaign contributions. The word "waste" was used and when I thought about NJ "waste" it  raised my BP to all time highs. I just had to write my reply. I guess "waste" is a relative term but below are the postings from the Internet and my reply.
*************
So in our state there may just be bigger fish to fry than prosecuting the teacher's union in the court of public opinion. Of course, no one would ever get the governor to admit that at a town hall meeting would they? Along with his fake enemy Sweeney. You can't make this stuff up. In this area I'm sure Jersey is a national stand out, while still being 47th in job growth. The new Trenton, yeah OK!!!!!!!!

Perhaps the Teachers Union should be making a big stink about these areas of waste that directly effect their members.
***************
Talk about waste -
The RU football coach (Shiano- record 68-67 - salary $2M + plenty of bennies) suppose a teacher had barely half his kids pass NJ testing? I kind of think he would be labeled "ineffective, lose tenure and not be paid $2M a year)
The RU basketball coach - salary $650 and a "firing bonus" of over $400K.
The RU AD is given a "quitting bonus" of $1M.
The RU "athletic lawyer" (whatever that means) - $400K a "resigning bonus".
The new basketball coach - salary $1M per year for five years.
The women's basketball coach - $900K per year (at least she's winning).
The retired college Prez - $335,000 per year for teaching 15 hours per week.
The football stadium renovated for $102M with a capacity of 54,000 and the largest attendance ever was 47,000 five years ago.
The tuition at RU doubled over the past 10 years.
Where is the Governor in all this? Why isn't he very good at addressing these issues??
He was very good at capping school Superintendent's salaries.
He was very good at "reforming" (maybe deforming is a better word) public employee's pension and health benefits.
He was very good at losing hundreds of millions of Fed education aid due to incompetence in filling out paper work.
He was very good at handing out "no bid" contracts for the shore clean up (kind of like the insurance contract situation).
He was very good at handing out tens of millions to companies for the incessant testing of school children,
He was very good at capping the funding of public education.
He is very good at promoting tax breaks for the wealthy.
He is very good at eliminating property tax rebates for the average guy.
I thought public criticism, derision and castigation were his forte. I guess he's just lost his touch!!

AND NOW THIS!

AND

AND

AND 

I spoke with someone the other day about the outrageous salaries of college coaches. He told me that the reason was that successful athletic programs brought alumni dollars to the school. He said that he had been to a Penn State football game a few years back and the alumni there were throwing money at the school hand over fist.
Well, I happened to look up some info about Penn State and it seems that they are not only number one in athletics but also number one in tuition costs for in-state students. In-state tuition is over $17K. 
Doesn't it make you wonder where all that alumni money (if it is really being donated as he claims ) is going ??
PS

 75%  - a  C grade with an A+ salary !! Where Gov. Big Mouth on this ??
Sorry. I'm kind of embarrassed about my careless math ! 257/(257+343) * 100% = 43%
He actually has a 43% win average. 

Did You Know That W.C.Fields Was a Jersey Politician?

In light of these revelations, I've got an awful lot of questions and comments about the continual squandering of New Jersey monies and the antics hatched in Trenton.
*The tuition at RU has doubled over the last 10 years!! 

(Rutgers University in New Brunswick costs $13,073 in tuition in fees for state residents, now making it the eighth most expensive flagship campus. Penn State in State College, Pa., is first with an annual cost of more than $17,000.
Nationally, the average for tuition for state universities is $8,655)
*Schiano (the ex football coach) was paid over $1M a year + housing and perks!  (All this with a barely winning record of  68-67 record in 11 seasons. Let's pretend for a minute that a teacher had barely half of his students pass the NJ testing barrage over an eleven year period. What would be his reward under the new "tenure reform" laws? Don't you think he might be labeled "ineffective"? ) *RU built a giant football stadium which is rarely (if ever) filled!  (A $102 million stadium expansion project. The highest attendance home game of the season came on November 19, 2011, when 47,447 fans. Rutgers Home Attendance Declined 6.9% per Game in 2011.)
*The ex RU prez got a $335,000 a year job for teaching 15 hours a week! (The aforementioned coach's contract and stadium renovation as well as the doubling of tuition was all "accomplished" under his watch!)
*The state is spending millions on testing children over and over and over!
* RU is a State institution run by the State and  evidently not very well run but now they want  to run Camden Public Schools along with Newark, Paterson and Jersey City which also hasn't been run well by them over the past 20 years.
*The Essex County Executive gets to retire at full pension and still work at full pay.
*Why have we not heard a word out of the "Mouth That Roared" (Christie) about any of this RU situation?
**And despite all this waste, the state still has no money to properly fund the pension!

W.C. Fields was once asked what he did with all his money. His reply was "I spent most of it on wine, women and song - the rest I squandered!"
I never knew he was part of New Jersey government!!