Monday, November 02, 2009

Golden Parachutes - Academic Edition

by Andrew Gillen

I was a bit surprised to read this (HT: AR):
Richard Herman, chancellor of the University of Illinois at Urbana-Champaign, has resigned in the wake of an admissions scandal in which well-connected applicants were put on a "clout list" and given preferential treatment… Mr. Herman… will join the university's faculty…
So if I’ve got this straight, if you screw up in academia, you’re punished by being made the “closest thing in our age to being landed gentry.”

On a related note, Paul Fain and Emma L. Carew report that
A Chronicle analysis found that 85 of the 419 private colleges included in this year's review of federal tax forms were paying at least one former official or key employee more than $200,000 in compensation in 2007-8

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