So Lee Todd turned down his annual bonus of $168,000, which one Board of Trustees claimed was such a "tiny" amount. It's admirable that Todd finally got the message that none of the people who work at UK appreciate his outrageous bonuses while staff and faculty salaries continue to plummet.
Now the Board of Trustees, who apparently live on Mars, want to re-examine Todd's pay package in case he might be underpaid.
Perhaps they're on to something. Just how much is Todd worth to UK? Will the Board take into consideration that the Todd's live rent free, have all their medical needs and insurance paid for, as well as their transportation (remember that second car it decreed was necessary)? And what's the value of all that cheap labor supplied by underpaid staff members?
Let's get a real picture of what exactly Todd is worth.
What do you think? What is Todd worth to UK? What would be a good salary for him, minus any bonuses?
Tuesday, September 15, 2009
Subscribe to:
Post Comments (Atom)
Posts
15 comments:
You see, when Todd got to UK, he said that UK was ranked 54th in the US News ranking. (Yeah, back then he still used that ranking, not the one which no one else recognizes)
Now on US News ranking UK is ten spots lower, the staff and faculty are demoralized, alumni start to withhold contributions (what - does Patsy Todd need a 3rd company car at my expense?) Even the people at the hospital - where all the money of the University were concentrated in recent years - start to grumble...
In 2001 Todd said that UK was "heavy at the top" and he was planning to pare down the administrative ranks. Funny, how it worked out: can anyone even count how many new vice-presidents, vice-provosts and various managers were created on his watch?
Behind the think PR bubble heartlessness and stonewalling is the rule by which the Administration operates.
So, how much is he worth to us? I say, at least 250 million that was lost in the endowment last year.
Therefore, we'll let him go with his reputation only slightly dented as soon he returns us this much. Otherwise...
Why don't you do a little bit of research? How much does the president of USouth Carolina make? UT - Knoxville? UFlorida? UGeorgia?
If you can't even take a little effort to figure that out, you're just lazy. If every President in the SEC makes 1 million, and Todd doesn't, he is underpaid. Doesn't matter what else nonsense you post about "he is making more money than the poor staff"
If you think Todd is underpaid, read this:
Median pay and benefits for presidents of public institutions rose 7.6 percent in 2007-8, to $427,400,
http://www.nytimes.com/2008/11/17/education/17college.html
President E Gordon Gee at Ohio State makes 1.3 MILLION a year.
Easy to criticize UK and Todd, when you have NO CLUE as to the average salary of somebody in his position.
Why stop at Todd? Let's ask this question of university employees at every level in the system hierarchy. Is Michael Karpf worth is $706,291 annual salary for being the VP of Health Affairs? Is Subbaswamy worth $275,000 per year to be the provost? Is Jeff Clymer worth 70,000 per year to be a professor?
At UK, we need to start talking about the massive inequities of compensation at every level of the university machine.
I admire you for your courage! Let's view our institution (and all colleges/universities)as a place of higher learning rather than a businness.
If UK follows the policy for Todd that it does for faculty, he will not get a raise until someone else tries to hire him away, thus establishing his "market rate."
Of course, this policy rarely allows us to keep our best faculty, since you have to be pretty committed to moving, usually after years of frustration, to go through the job search and get an offer.
But I doubt we are in much danger of losing our president.
Is Karpf worth 700,000? How much did he get at UCLA? I hate to break this to you, but most poeple don't want to live in Kentucky. It's pretty much the armpit of the United States. Therefore, UK has to overpay to get talent. I should know - they overpaid to get me. No way I was coming to hick country without getting some cash in return.
But keep whining about how Karpf gets more money than the high school educated staff people. How many karpf's are out there? How high school grads are out there that would kill to be at UK? Supply and demand, my friend.
Wow, Karf is talented?? From the research I have conducted into his UCLA days, he practically bankrupted their healthcare system! And when the employees and citizens became outraged, he left.
And from the logic of the previous poster, the faculty should be making more than Karf- who has only a professional degree and faculty are required to hold doctorates.
And as for the sad attempts to belittle others on this blog by quoting ECON 101, it may help to know a bit about the state you have come to work for. The principles for supply and demand don't apply...
exploitation would apply.... of the state, people and resources. What did Karpf do at UCLA that bankrupted it?
Then tell me how much Karpf and Todd should be get paid? It is easy to whine and cry about their salary, when you have no clue about how their counterparts get paid. Frankly I coudl care less if janitors and nurses get laid off. If they wanted a better job and better job security, they should have been smarter. Boo freakin hoo.
Talent? Todd is a "talent" which is why he's so overp . . . er, underpaid?
Hmmm, when do you think he'll start showing some of that "talent?"
Anonymous said, "Easy to criticize UK and Todd, when you have NO CLUE as to the average salary of somebody in his position."
Following your logic everyone should be paid whatever the median salary is, regardless of ability or results. Like those multimillion-making CEOs running the banks and corporations in the ground. Gotta keep those salaries and bonuses high so everyone's making the same amount.
In other words we should pay Todd at least a million a year whether he ever does anything else for UK or not. Fair's fair, right?
Even us native Kentuckians, here in the "armpit" of the nation aren't that stupid.
then let us have an intelligent discussion of his positives / negatives. Not mindless drivel like this:
Perhaps they're on to something. Just how much is Todd worth to UK? Will the Board take into consideration that the Todd's live rent free, have all their medical needs and insurance paid for, as well as their transportation (remember that second car it decreed was necessary)? And what's the value of all that cheap labor supplied by underpaid staff members?
What does that have to do with anything? Is the author so stupid not to realize that president's of major universities all get those perks? How stupid would UK look if they got rid of Todd, then inteerviewed prospective Presidents telling them "No, no free heatlh insurance, no car, nope, you don't even get the Official Presidential House. We're letting some secretaries rent it out because they need to money"
Wow, are Kentuckians this freakin stupid?
Dear Argumenting parties:
No need to compare Todd' compensation to that of presidents of universitites that are already in the Top 10 or 20 of this country.
1) Todd was hired to improve UK standing in the rankings, which at the time was #54 among publics on the US News list.
2) UK's current US News ranking is #64.
3) Thus, Todd owes us (University members and taxpayers who pay his salary) for plunging our University's reputation. Case closed.
"No need to compare Todd' compensation to that of presidents of universitites that are already in the Top 10 or 20 of this country."
How stupid. Where did I quote his salary with those in the top 10/20. I quoted the average of ALL public institions. This includes such amazing places as Univ of Toledo and Univ of Akron. If you can find the average of the top 20, please provide it. Otherwise, stop with your pointless nonsense.
Furthermore, using the US News rankings as the sole measure of UK's progress or lack thereof is the height of ignorance. But that is rampant on this blog it is obvious.
Post a Comment