Excessive Compensation — Academic Style
Higher education is not undergoing something like the financial reengineering craze that was so popular and so destructive in corporate America more than a decade ago — cutting back on the workers and loading university presidents of million dollar salaries and perqs.
Here is the New York Times take on the lavish housing expenditures for Mark Yudof, president of the University of California. Everyone else is expected to willingly accept the necessary sacrifices for the good of the organization. The article begins with a “midnight move … the latest chapter in a two-year housing drama that has cost the university more than $600,000 and has drawn senior U.C. officials into an increasingly time-consuming and acrimonious ordeal over the president’s private residence.”
Fainaru, Steve. 2010. “University Head’s Housing Raises Ire.” New York Times (21 August): p. A 23A.