“Misplaced spending priorities”

Now the Philly Inky has joined the pile of newspapers recently editorializing against Slick McCormick, Mulcahy III, Greedy Greg Schiano, et. al. Rutgers, states the Inky, has “misplaced spending priorities.”

Says the Inky: “Rutgers University President Richard L. McCormick gets high marks for returning a $100,000 bonus to help students pay their growing tuition.

The goodwill gesture may be lost on financially strapped students facing an 8.5 percent tuition hike at one of the most expensive public universities in the country.”

The Inky also points out:

* “Rutgers’ finances also have come under intense scrutiny after recent published reports detailing questionable deals designed to grow the football program.”

* “A plan to raise $30 million in private funds to help pay for the 14,000-seat stadium expansion has fallen way short. Now, the state comptroller plans to investigate the school’s spending practices.”

Meantime, over at the Star Ledger, Rutgers sports scribe Tom Luicci has the news that Rutgers has inked an expensive deal to play Kent State at home in 2012. Kent State demanded — and will get — a jaw-dropping $750,000 guaranteed payment to travel to Piscataway. Where will that money come from. Per Luicci: “the school expects to have some of the cost defrayed by the expanded capacity of Rutgers Stadium, which will be at 56,000 then.”

Excuse us, Luicci. We know you could not spell “verify” if spotted the consonants, but last we looked, Rutgers was very, very far short of the funding needed to proceed with the Phase 2 expansion which is where those seats get added. We know what Mulcahy III wants you to write but reporting, by definition, requires you to do a bit of verification. The $30 million private fundraising is a bust, as reported by your own newspaper. The construction estimates for the stadium have exploded well beyond the original $102 million. And now 10 newspapers have editorialized against RU, exactly none have come out in support of the school’s extravagant football fantasies. From our seats, we fully expect the BoG to announce within weeks that Phase 2 will be “delayed” — which is Raritan speak for terminated.

Mulcahy III’s spinmeisters must be singing that expansion tune exceptionally loudly. The Ohio press also is picking up on it. Reports Recordpub.com: “Rutgers will pay KSU $750,000 in 2012 to play a football game at its soon-to-be renovated stadium. That’s an unusually big payday to play at Rutgers, but the Scarlet Knights apparently can afford to pay larger guarantees thanks to a $102-million renovation that will increase the capacity of their Piscataway, N.J., stadium from 41,500 to 56,000.” Talk about flimflam accounting. Mulcahy III apparently is “balancing” his budget with seats that have not been built and which are unlikely to be built. Just amazing, but would you expect otherwise from a lifelong Trenton hack? This is a state that is strangling in its own debt and Mulcahy III is a poster child for why we are in the sorry fiscal shape we are.

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6 Responses to “Misplaced spending priorities”

  1. Codezined says:

    Now the Governor is going to show up to sign autographs at Fanfest? Usually proticol when a state body is investigating someone or something,you keep your distance until the impartial inquiry is completed.Are we now to expect two coats of whitewash? While Mr.Boxer has been quiet as to any findings garnered to date,the appearance of our Governor really makes one wonder how this is or will be handled in the end. Do you think Acting Governor Codey will also be present? Maybe both want to see how their new ‘thrones”, are coming at the exclusive lounge built just for the politicians and fatcats.
    We read that the IRS is now involved.Good. How about those that asked questions three to five years ago that the AD may have a special arrangement with PERS as to stadium seats sold during is tenure built into his golden parachute? Then later,it was rumored the new President and football coach had pension adjustments. While the Feds are opening files a few blocks from Lalor,perhaps they could add three other names to the dig and nip it in the bud before another taxpayer financial gang rape occurs courtesy of Rutgers adminsitrators and politicians. Check it out.Prove or disprove it.You are already in the building.

  2. Grumpy alum says:

    Corzine is just a disgrace. An utter disgrace to the office he hold and no friend of Rutgers the university.

  3. James Cahill says:

    When the 13,000 seats are completed, will you do us a favor and drink a glass of laundry detergent?

  4. ferdek says:

    What’s important here is to make public ALL of the details of ALL of the special perks for the Athletic Department in ALL sports including women’s basketball. This should all be public information anyway and it would help get a better sense of what these “big time” sports cost. Secondly, it is equally important to make public ALL of indicators at RU that point in the direction of a declining quality of education, facilities and research at RU. These indicators have not to date been made a part of these discussions. It is not just that spending on “big time” sports is ouot of control but that this pattern of spending directly disadvantages the academic mission of RU. That part of the story has not been well done by the “insiders” who have the information needed to inform the rest of us. That’s the real challenge here…a handful of meaningless victories over second rate programs have been used to stampede the BOG’s into drinking more of Schiano Kool Aid. It is not the opinion of ESPN that should matter here but the collective opinion of those who work in academia at RU every day not just on Saturdays in the Fall.

  5. John Lister says:

    Doesn’t anyone else find it ironic that Rutgers is paying Kent State more money than was “saved” by the elimination of the six sports teams for just one game?

    By the way, if you want to see a nice piece of spin, read http://news.rutgers.edu/medrel/fact-sheets/2008/08/updated-rutgers-is-c-20080812. Send Greg Trevor, the piece’s author a congratulatory note about his fiction writing skills.

  6. Grumpy alum says:

    I’m already writing a rebuttal to the fictional claims of Greg Trevor. As for the sports – it just m further demonstrates McCormick’s and Mulcahy’s willingness to lie and obfuscate – it really does make me sick.

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