Hedging Bets on SUNY
by Buck Quigley - posted 11:28 am, July 12, 2010
The Answer Lady’s blog draws our attention to this story in the NY Times which describes how James Simons, a hedge fund manager worth $8 billion is offering SUNY Stony Brook $150 million dollars—provided legislators pass the PHEEIA/UB 2020/empowerement plan that state senator Bill Stachowski has famously supported.
The plan is notable because it would free State University of New York colleges and universities from some state oversight, pave the way for public/private “partnerships”, allow the institutions to set their own tuition rates and keep all the money—but it’s also significant in that it’s the first time Stachowski has strongly spoken up for anything in his 30-year political career.
New SUNY Chancellor Nancy Zimpher also supports the measure. Zimpher was chosen for the post in 2009, based on her job performance at the University of Cincinnati, where she saved the school money by employing adjunct instructors in half the classes. The non-union adjuncts were paid just $1,700 for each course they taught.
Wait, don’t tell me…I’m sure it will come to me…