Tulane has a 15m to 20m a year deficit and Cowen covered up

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cajunfanatico
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Wave755 wrote:
cajunfanatico wrote:
jonathanjoseph wrote:
cajunfanatico wrote:Hugh Long, chair of the University Senate budget review committee, said the total accumulated deficit is unknown due to uncertainty following Hurricane Katrina. Tulane did not keep track of finances immediately following Katrina.

:shock:
Yep. As if the rumors and evidence we already had weren't damning enough, we now find out that the Board has been approving this deficit AND keeping it a secret from various constituents who had a right to know.

This is utterly scandalous (and this comes as no surprise to me), yet the Tulane community refuses to call out the emperor with no clothes. Then we get a unaffiliated ULL poster expressing shock, and instead of directing the appropriate anger at the crooks who have stolen and sunk our university, they bother to call you a troll instead.

Shooting the messenger is a staple around here.
I wasn't shocked at the deficit, per se. The admission that the accumulated deficit is unknown and that the university failed to keep track of finances immediately after Katrina were the shocking parts. How does that happen to an organization of that size?

While I understand that Katrina was a catastrophic event, it's not like such an event came as a complete surprise to everyone. My dad, who died in 1994, told me when I was just a kid that it was only a matter of time until the right storm hit in the right location and New Orleans would be under water. He didn't live to see it, of course, but he was right all along.
Thanks, troll.
Wave, is it not logical to wonder how an organization the size of Tulane University, located in the heart of hurricane country and in a coastal city that sits below sea level, can be so unprepared for an event like Katrina that it loses all control of its finances after the storm? To me, that was an amazing admission by the Chairman of the University Senate budget review committee. A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.


ajcalhoun: Nobody here gives a flying fuck about UL-L and the Sunbelt Conference.
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ajcalhoun
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cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
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As a former Ivy League member and graduate our new President Fitts has zero interest in Tulane athletics similar to Scott Cowen. Rick Dickson should have been fired months ago by him. We are in big trouble?
CajunF would you get off our Tulane board and back to your Cajun U La La board. Have a good day!
cajunfanatico
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ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
ajcalhoun: Nobody here gives a flying fuck about UL-L and the Sunbelt Conference.
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cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
Appreciate that. Sadly so many here are afraid of speaking truth to power that they decide to turn their negative commentary towards me or anyone representing another university. Both childish and pathetic.

Meanwhile, I never thought that the mismanagement was conclusively criminal. To prove a breach of fiduciary duty, one needs to prove malicious intent. Just being really really stupid and really really bad at your job, as Cowen and Dickson have been, isn't enough to prove a breach, and that would certainly be their legal defense. I wanted legal action pursued because the mere threat of a lawsuit would have the Board members sobering up out of their Cowen kool aid stupor and force change.

Now that we have conclusive evidence that they don't even know how much the deficit is or where the money went and that they have been covering it up, we're starting to look at something that appears clearly criminal. You cannot run a $800M/year budget and claim that you don't know where $15M-$20M a year went. That's certainly criminal negligence.
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cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
This just in (actually @ about 6:30 p.m.) from Tuscaloosa, final score 'Bama 6, "national champ" ULALA 4! :lol:
jonathanjoseph
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Wave755 wrote:
cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
This just in (actually @ about 6:30 p.m.) from Tuscaloosa, final score 'Bama 6, "national champ" ULALA 4! :lol:
I'm embarrassed for Tulane alumni with stuff like this. It's like a 9 year old who responds to any legitimate criticism with "well you're ugly".

Tulane baseball hasn't made the postseason in 5 years. You'd think our fans would have some humility along these lines.
Wave755
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jonathanjoseph wrote:
Wave755 wrote:
cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
This just in (actually @ about 6:30 p.m.) from Tuscaloosa, final score 'Bama 6, "national champ" ULALA 4! :lol:
I'm embarrassed for Tulane alumni with stuff like this. It's like a 9 year old who responds to any legitimate criticism with "well you're ugly".

Tulane baseball hasn't made the postseason in 5 years. You'd think our fans would have some humility along these lines.
Tulane 8, Creighton 2. Dave Pierce is the real deal, start getting used to it, you and Cajun Troll should get a room. I wonder if you hate Tulane as much as does Cajun Troll? You express nothing but hatred and contempt for my alma mater and never a good word for Tulane on this forum. You want Tulane destroyed but like the other trolls don't have the honestly or balls enough to just come out and say it.
jonathanjoseph
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Wave755 wrote:
jonathanjoseph wrote:
Wave755 wrote:
cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
This just in (actually @ about 6:30 p.m.) from Tuscaloosa, final score 'Bama 6, "national champ" ULALA 4! :lol:
I'm embarrassed for Tulane alumni with stuff like this. It's like a 9 year old who responds to any legitimate criticism with "well you're ugly".

Tulane baseball hasn't made the postseason in 5 years. You'd think our fans would have some humility along these lines.
Tulane 8, Creighton 2. Dave Pierce is the real deal, start getting used to it, you and Cajun Troll should get a room. I wonder if you hate Tulane as much as does Cajun Troll? You express nothing but hatred and contempt for my alma mater and never a good word for Tulane on this forum. You want Tulane destroyed but like the other trolls don't have the honestly or balls enough to just come out and say it.
What does David Pierce have to do with Tulane's deficit and what appears to be a cover up? Absolutely nothing. I'm sure if this were a thread about baseball, there would be some positive commentary.
Wave755
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jonathanjoseph wrote:
Wave755 wrote:
jonathanjoseph wrote:
Wave755 wrote:
cajunfanatico wrote:
ajcalhoun wrote:
cajunfanatico wrote: A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
Have you met jj? Y'all would get along swimmingly.
:lol: Agree or disagree, JJ speaks his mind and his heart is absolutely with Tulane University, of that there is no doubt. And the more I learn about the events surrounding Tulane's history that lead us to this point, the more I agree with him that the mismangement has bordered on the criminal.

For all the grief I've given ULL's past president, Ray Authement, for his lack of interest in athletics, he ran a tight ship and from what I understand, left the university with zero debt.
This just in (actually @ about 6:30 p.m.) from Tuscaloosa, final score 'Bama 6, "national champ" ULALA 4! :lol:
I'm embarrassed for Tulane alumni with stuff like this. It's like a 9 year old who responds to any legitimate criticism with "well you're ugly".

Tulane baseball hasn't made the postseason in 5 years. You'd think our fans would have some humility along these lines.
Tulane 8, Creighton 2. Dave Pierce is the real deal, start getting used to it, you and Cajun Troll should get a room. I wonder if you hate Tulane as much as does Cajun Troll? You express nothing but hatred and contempt for my alma mater and never a good word for Tulane on this forum. You want Tulane destroyed but like the other trolls don't have the honestly or balls enough to just come out and say it.
What does David Pierce have to do with Tulane's deficit and what appears to be a cover up? Absolutely nothing. I'm sure if this were a thread about baseball, there would be some positive commentary.
Nothing positive from you, that we can be certain.
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Our wonderful AD Rick Dickson will be adding $60,000 to our annual $20m Tulane annual deficit that is coming out of our lowly 1billion dollar endowment similar to last year for a stupid pay for play basketball game tournament at the end of a losing season as the last five years. If we cannot get back in the NCAA basketball tournament after 20 years since Perry Clark Dickson and Conroy both need to resign now.
cajunfanatico
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Wave755 wrote: I wonder if you hate Tulane as much as does Cajun Troll? You express nothing but hatred and contempt for my alma mater and never a good word for Tulane on this forum. You want Tulane destroyed but like the other trolls don't have the honestly or balls enough to just come out and say it.
Why do you believe JJ hates his alma mater? Looks to me like he loves his alma mater but hates what he believes is its slow death taking place before his eyes.....and I'm not talking about just athletics. Athletics appear to be just a symptom of a greater disease.

Yeah, when I first came here I thought JJ might be a bit over the top but that was because I didn't understand a lot of the history of what has taken place under Cowen's watch. After reading some of the older threads here, it becomes obvious that there have been a lot of decisions made that are (and will) seriously effecting Tulane University's health. Did Cown actually eliminate Tulane's engineering department? If so, I'd love to hear the rational for that one. Computer science? Havent' looked, but think I read where that program was either eliminated or scaled back as well. Incomprehensible to me.

No, the more I learn the more I've come to believe that JJ is one of the few who really understands and cares what's taking place at Tulane. Perhaps most of the rest of the posters here understand as well, and perhaps most care and wish to do something about the situation though for the most part it appears to me that the average alum here is either ambivalent or at a loss as what to do to help. Most are interested in athletics, and perhaps not the politics. I can understand that. But when one begins to wrap his brain around the mismanagement of one of Louisiana's oldest and most important institutions of higher learning, one can't help but ask who let this happen and why is nothing being done about it? Only in Louisiana I guess.

As it relates to me personally, Mr. Wave, I made clear from the beginning my interest in Tulane athletics and I don't need to justify my time here to you or anyone else. Having said that, please continue with your silly, childish rants and name-calling as it seems to give you great pleasure. At first I was sure you were a 14 year old. Now I'm afraid you actually are an adult and graduate of the university.
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cajunfanatico wrote:
Wave755 wrote:
cajunfanatico wrote:
jonathanjoseph wrote:
cajunfanatico wrote:Hugh Long, chair of the University Senate budget review committee, said the total accumulated deficit is unknown due to uncertainty following Hurricane Katrina. Tulane did not keep track of finances immediately following Katrina.

:shock:
Yep. As if the rumors and evidence we already had weren't damning enough, we now find out that the Board has been approving this deficit AND keeping it a secret from various constituents who had a right to know.

This is utterly scandalous (and this comes as no surprise to me), yet the Tulane community refuses to call out the emperor with no clothes. Then we get a unaffiliated ULL poster expressing shock, and instead of directing the appropriate anger at the crooks who have stolen and sunk our university, they bother to call you a troll instead.

Shooting the messenger is a staple around here.
I wasn't shocked at the deficit, per se. The admission that the accumulated deficit is unknown and that the university failed to keep track of finances immediately after Katrina were the shocking parts. How does that happen to an organization of that size?

While I understand that Katrina was a catastrophic event, it's not like such an event came as a complete surprise to everyone. My dad, who died in 1994, told me when I was just a kid that it was only a matter of time until the right storm hit in the right location and New Orleans would be under water. He didn't live to see it, of course, but he was right all along.
Thanks, troll.
Wave, is it not logical to wonder how an organization the size of Tulane University, located in the heart of hurricane country and in a coastal city that sits below sea level, can be so unprepared for an event like Katrina that it loses all control of its finances after the storm? To me, that was an amazing admission by the Chairman of the University Senate budget review committee. A publicly-traded company in similar circumstances would likely be facing multiple stockholder lawsuits for negligence on the part of those in charge.
In addition to shareholder lawsuits, the board of a publicly-traded company would also either replace management, or arrange to have the company sold to another company. But of course that is in the business world where accountability exists. Similar accountability is hard to find in the academic world. Tulane has suffered from a greater degree of mismanagement for a long time, but varying degrees of mismanagement exist throughout the academic world. Someday, tuition payers, alums and employers may demand something better. But for now, the great scam that is higher education continues. But it is true, that the incompetence of Tulane's board and leadership has reached remarkable levels, compared to other universities.
Tulane is the University of Louisiana
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1. I believe the cover up of the deficit is something that should have HUGE repercussions. The BOA and SC are, together, negligent. Yes, I believe that this is information that should have been public, and hiding it is a worse crime than the deficit itself. If nothing else, we should cut off ALL PAYMENTS TO SCOTT COWEN and distance the University from any of his influence. The BOA should resign and a new one should be formed.

2. Cajunfanatico is not some troll that comes here to bash Tulane. Does he love his alma mater, UL-L? Yes, absolutely. But he also posts a lot of insightful commentary from a non-biased point of view

3. JJ and to an extent Jonathan have been harping the same things over and over again. Most of us have agreed with what they post, but tire of hearing it in one form or another on just about every thread. Yes, SC and RD are clowns and failures. Yes, they've deceived us at every turn. Yes, we want to win and do measure success by wins and losses. Now that we agree on that, can we move on and not post it 12-24 times a day?

4. Tulane is facing dire straights and there's a significant risk that SC's mismanagement may lead to the downfall of a great University.

5. Athletics is a way to save the sinking ship.

That's my nickel analysis.
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soooooo, I have a question....what are all of you high powered Alumni going to do about replacing the BOA and firing SC from his position ?.. A lawsuit needs to be filed naming SC and the Board members as co-defendants...calling Morris Bart !!!!!
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DfromCT wrote:1. I believe the cover up of the deficit is something that should have HUGE repercussions. The BOA and SC are, together, negligent. Yes, I believe that this is information that should have been public, and hiding it is a worse crime than the deficit itself. If nothing else, we should cut off ALL PAYMENTS TO SCOTT COWEN and distance the University from any of his influence. The BOA should resign and a new one should be formed.

2. Cajunfanatico is not some troll that comes here to bash Tulane. Does he love his alma mater, UL-L? Yes, absolutely. But he also posts a lot of insightful commentary from a non-biased point of view

3. JJ and to an extent Jonathan have been harping the same things over and over again. Most of us have agreed with what they post, but tire of hearing it in one form or another on just about every thread. Yes, SC and RD are clowns and failures. Yes, they've deceived us at every turn. Yes, we want to win and do measure success by wins and losses. Now that we agree on that, can we move on and not post it 12-24 times a day?

4. Tulane is facing dire straights and there's a significant risk that SC's mismanagement may lead to the downfall of a great University.

5. Athletics is a way to save the sinking ship.

That's my nickel analysis.

In some ways, this is the position the NFL took with the Saints regarding Bountygate. The coverup was worse than the crime itself.

Now the question is, HOW do we go about demanding that Cowen be cut off and the board resign? Its going to take more than just a few alums standing up and speaking out. Where is the media that so loves to point out our faults and minimize our achievements? They should be all over this like red beans on rice.
Last edited by RobertM320 on Sat Feb 28, 2015 12:11 pm, edited 1 time in total.
jonathanjoseph
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cajunfanatico wrote:
Why do you believe JJ hates his alma mater? Looks to me like he loves his alma mater but hates what he believes is its slow death taking place before his eyes.....and I'm not talking about just athletics. Athletics appear to be just a symptom of a greater disease.

Yeah, when I first came here I thought JJ might be a bit over the top but that was because I didn't understand a lot of the history of what has taken place under Cowen's watch. After reading some of the older threads here, it becomes obvious that there have been a lot of decisions made that are (and will) seriously effecting Tulane University's health. Did Cown actually eliminate Tulane's engineering department? If so, I'd love to hear the rational for that one. Computer science? Havent' looked, but think I read where that program was either eliminated or scaled back as well. Incomprehensible to me.

No, the more I learn the more I've come to believe that JJ is one of the few who really understands and cares what's taking place at Tulane. Perhaps most of the rest of the posters here understand as well, and perhaps most care and wish to do something about the situation though for the most part it appears to me that the average alum here is either ambivalent or at a loss as what to do to help. Most are interested in athletics, and perhaps not the politics. I can understand that. But when one begins to wrap his brain around the mismanagement of one of Louisiana's oldest and most important institutions of higher learning, one can't help but ask who let this happen and why is nothing being done about it? Only in Louisiana I guess.

As it relates to me personally, Mr. Wave, I made clear from the beginning my interest in Tulane athletics and I don't need to justify my time here to you or anyone else. Having said that, please continue with your silly, childish rants and name-calling as it seems to give you great pleasure. At first I was sure you were a 14 year old. Now I'm afraid you actually are an adult and graduate of the university.
Yes to the bolded above.
cajunfanatico
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Speaking of Scott Cowen, can someone direct me to the details of how exactly it came to pass that he's being paid $1,000,000 per year doing whatever it is he's doing while someone else (Fitts) is covering his job for him? That's a real WTF type of situation.
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HoustonWave wrote: In addition to shareholder lawsuits, the board of a publicly-traded company would also either replace management, or arrange to have the company sold to another company. But of course that is in the business world where accountability exists. Similar accountability is hard to find in the academic world. Tulane has suffered from a greater degree of mismanagement for a long time, but varying degrees of mismanagement exist throughout the academic world. Someday, tuition payers, alums and employers may demand something better. But for now, the great scam that is higher education continues. But it is true, that the incompetence of Tulane's board and leadership has reached remarkable levels, compared to other universities.
I'm not sure when people think "someday" is coming, but I know that Silicon Valley early stage investors all believe that day is coming within 5-10 years. The days of higher ed being a great scam that continues indefinitely are pretty close to over, if not over.

If that is the case, what are Tulane's chances of surviving this transition given the mindblowing levels of incompetence and corruption?

The chances aren't good.
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cajunfanatico wrote:Speaking of Scott Cowen, can someone direct me to the details of how exactly it came to pass that he's being paid $1,000,000 per year doing whatever it is he's doing while someone else (Fitts) is covering his job for him? That's a real WTF type of situation.
He remains on staff as a professor on sabbatical, and professors on sabbatical are entitled to their full salary. The Board has approved this.
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cajunfanatico wrote:Speaking of Scott Cowen, can someone direct me to the details of how exactly it came to pass that he's being paid $1,000,000 per year doing whatever it is he's doing while someone else (Fitts) is covering his job for him? That's a real WTF type of situation.
He's "on sabbatical" which means that he's taking a paid leave of absence. The kiss a$$ BOA approved a paid year long sabbatical for SC, which is not uncommon for a retired President that will come back to teach (and do other things) at a University. Where the crime lay is in the fact that the BOA allowed him to run rampant for 15 years and his actions have brought a once proud institution of higher learning to its' knees. Under Cowen the academic ranking went from 34 to 53. Tuition skyrocketed, and we all know how the "Tulane Model" was an utter failure for athletics. The moves w/r/t Engineering and Newcomb College were underhanded, at best. By all measures, the Scott Cowen era at Tulane was a complete and utter failure. Katrina was actually his finest hour. But the other 14.5 years were a marked dictatorship, with deception and misinformation the standard mode.

With any accountability, Scott Cowen would have been FIRED as President before Katrina. The fact that he was allowed to stay as long as he did (and still continues to overshadow the University) is absolutely ludicrous.
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when the law suit is filed, may I suggest the Law Firm of ..Dowee...Cheetum & Howe
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jonathanjoseph wrote:
cajunfanatico wrote:Speaking of Scott Cowen, can someone direct me to the details of how exactly it came to pass that he's being paid $1,000,000 per year doing whatever it is he's doing while someone else (Fitts) is covering his job for him? That's a real WTF type of situation.
He remains on staff as a professor on sabbatical, and professors on sabbatical are entitled to their full salary. The Board has approved this.
Professors on sabbatical are entitled to their full salary. That I understand. But since when do we pay a "Professor" $1M a year? Maybe the "University President" position comes with a $1M salary, but I doubt very much a "professor" earns that. So 1) why is he drawing the salary of a position he doesn't hold? and 2)Will it revert to a regular "professor" salary when he actually starts teaching?
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Cajunfanatico, while I appreciate your interest in our university, I feel like your presence here is to stir the pot. JJ does enough of that on his own. This is first and foremost an athletics forum of Tulane sports fans.

JJ has a personal vendetta against Tulane and always has something to kvetch over, whether substantive or not.
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JDTulane wrote:Cajunfanatico, while I appreciate your interest in our university, I feel like your presence here is to stir the pot. JJ does enough of that on his own. This is first and foremost an athletics forum of Tulane sports fans.

JJ has a personal vendetta against Tulane and always has something to kvetch over, whether substantive or not.
Lol so you're accusing someonewho has been contributing some of the more thoughtful posts on this forum of trying to stir the pot while accusing someone else of having a "personal vendetta" against Tulane. Your lack of self awareness is stunning.
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