The Berkeley Wire: 04.20.12

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  • jjohannson

    Can anyone say, student fees?  From the WSJ article —

    “But three years into the fund-raising effort, the school was far from its goal of raising $270 million from the sale of seats. At the end of December, the school had collected $31 million in cash. It had secured another $113 million in long-term seat agreements, the majority of which will be paid over 30 years and all of which are nonbinding. In recent interviews, university officials acknowledge that if revenue projections fall short and won’t cover the bond payments, the shortfall “would have to come from campus.””The idea that money for the football stadium could come from campus funds, which include student fees, is an admission likely to stir outrage at a school that’s already facing possible double-digit tuition increases. “It is disconcerting that the university may be gambling with student fees and other academic funds to cover a massive financial commitment for a football stadium,” said Cal computer-science professor Brian Barsky.”

  • Thomastratcliff

    Balancing ambitious vision with conservative stewardship of public monies re-creates temptations akin to Odysseus’ treacherous  trip past the sirens. Too bad they didn’t have the sense to tie themselves to the mast.