Even if you quit a university president’s position, it’s all good because there’s always the golden parachute.
From theeagle.com: Severance details released
Murano’s severance package included being paid her salary of $425,000 while she is on leave through June 2010. She’ll also be paid $295,000 by the end of the week in exchange for agreeing to not file a lawsuit against the system or its officers.
And the other shoe drops…
From the same article:
The special regents meeting kicked off with a presentation that painted a dire economic forecast for Texas A&M University and higher education in general, including continued tuition increases, funding shortfalls in the next legislative session and possible reductions in other revenue sources such as investment earnings.
The presentation — made by B.J. Crain, associate vice chancellor for budgets and accounting — said that Texas A&M University’s total operating budget increased 66 percent from 2000 to 2008, from $553 million to $918 million. The spike was significantly higher than the cost of inflation, she said.
The administration (the BOR, Presidents Murano and Gates) over spent and now it’s time to tighten the belt. Of course combining functions with their flagship university allows the System to save money, but it’s a crutch. They may lower cost slightly and keep income steady, but next year, everyone will be worse off when the Texas Legislature cuts the budget. Long live the president and the office of the president.