Hearing gross on his

[OttoMets]

When I was leaving campus, construction was going on everywhere:

- The life science building, which is an absolute monstrosity and had to cost tens of millions.
- The School of management
- Ernie Davis Dorms
- Newhouse 3

These building alone had to run the school hundreds of millions.

Right. Especially the Life Sciences building, but the school's going to be paying off all those buildings for decades. The Warehouse, in the other hand, was a drop in the bucket.

 

[dasher]

Just wait till the new AD tells Hop he's 3rd on the interview list.

Gotta think he'd want to hire 1 of the 2 main sports coaches...


Oh, and they're not dropping sports and they certainly aren't adding the great sport of hockey.

Mike has nothing to worry about. He has a iron proof contract. Unless he leaves, he is our next coach.

 

[dasher]

None of us are in any position to judge Gross whether he overspent. EDIT that's not true. Few of us. coughCTOcough. We all have our suspicions but none of their numbers are public. Considering how so much of the truth is secret, Gross didn't do himself any favors by giving a cushy job to his wife or making big splashy hires in sports no one cares about. Maybe he's very responsible but if that's all that any of us can see, we're going to judge on tha.

I'm inclined to trust Syverud's judgment over Cantor's but that is only because I have such a low opinion of her.

she speaks highly of you.

 

[Millhouse]

she speaks highly of you.

She looks up to me

 

[moqui]

Gross made two great hires for football

correct me if I am wrong, but I thought the chatter on the board at the time was that the hiring of Marrone was not, in fact, Gross' decision - that a small group of alumni and other interested parties vetted the candidates and handed Marrone's name to Gross. Not sure if it was the same with Shafer, but even if not he was a normal advancement-from-within. If this version is correct, then arguably Gross made only one football hire, and that was a colossal disaster.

 

[jekelish]

http://www.syracuse.com/news/index.ssf/2013/03/syracuse_universitys_debt_more.html

Nowhere in that article does it mention athletics spending, where did you get that from.

"Alper and Lou Marcoccia, SU’s chief financial officer, stressed that SU borrows only for long-term building projects, not to pay day-to-day expenses. The total interest and payments amount to just 2 percent of SU’s annual budget, Marcoccia said: about $20 million out of a $1 billion budget.

“That is a reasonable benchmark,” Marcoccia said.

Cantor declined comment.

Among similar universities, SU’s debt is slightly larger than the average of $348 million. SU spends a smaller percentage of its budget on debt, though – the average is 4.6 percent."

The school is financing capital investment, something that happens every day all around the world, and makes sense when you can get financing terms that are that are basically giving the money away. How does it make any sense to say the Basketball Program owes $149M to anyone?

The athletic department is not running on borrowed funds and I'm unaware of any athletic department capital spending that would run up to that number, let alone basketball specific investment.

I found the source of this very strange sounding paragraph here. The authors are a couple of high school students who really don't belong in high school.

The debt being referenced is the total debt for the university, which indeed rose dramatically under Cantor.

The basketball program has consistently been one of the most profitable programs in the country since the Carrier Dome opened and it surely the most consistent source of profit for the university. No idea where they got the $149 million number from or how they got so confused that they blamed a program that they rightly named as hugely profitable for building up a huge dept. I blame this one on the use of lead paint in the older houses in New Haven.

Anyway, ignore that paragraph. It is arguably the dumbest thing any student has ever written in the history of New England high schools. This explains a lot about some posters I know on The Boneyard.

I always knew there was a reason I liked you, Tom.

 

[rrlbees]

correct me if I am wrong, but I thought the chatter on the board at the time was that the hiring of Marrone was not, in fact, Gross' decision - that a small group of alumni and other interested parties vetted the candidates and handed Marrone's name to Gross. Not sure if it was the same with Shafer, but even if not he was a normal advancement-from-within. If this version is correct, then arguably Gross made only one football hire, and that was a colossal disaster.

You are correct. His first choice was Edsall and when that didn't work out he went to Holtz.

 

[CusefanATL]

When I was leaving campus, construction was going on everywhere:

- The life science building, which is an absolute monstrosity and had to cost tens of millions.
- The School of management
- Ernie Davis Dorms
- Newhouse 3

These building alone had to run the school hundreds of millions.

the life science building was not tens of millions... well, i guess it was... it was more than ELEVEN ten millions.

http://archives. /buildings/lsc.html

 

[Cheriehoop]

Dineen Hall for the College of Law is new too isn't it?

 

[AZOrange]

Dineen Hall for the College of Law is new too isn't it?

Not even open yet...

 

[KaiserUEO]

Mike has nothing to worry about. He has a iron proof contract. Unless he leaves, he is our next coach.

youre no fun.

 

[shandeezy7]

the life science building was not tens of millions... well, i guess it was... it was more than ELEVEN ten millions.

http://archives. /buildings/lsc.html

And according to this article, $90 million of the funding for that building was raised through bonding (aka debt), with only $17 million funded via fundraising dollars. That's a large chunk of debt right there alone.

http://www.syracuse.com/news/index.ssf/2008/11/sus_new_107_million_complex_br.html

 

[longtimefan]

And according to this article, $90 million of the funding for that building was raised through bonding (aka debt), with only $17 million funded via fundraising dollars. That's a large chunk of debt right there alone.

http://www.syracuse.com/news/index.ssf/2008/11/sus_new_107_million_complex_br.html

The last few years, with interest rates at historic lows, were a great time to take on debt.

 

[shandeezy7]

The last few years, with interest rates at historic lows, were a great time to take on debt.

Yeah, I'm not saying whether it was right or wrong to take on debt, just that if you're looking for culprits for why SU's debt is at the level it's at, there is a good place to start.

 

[Toronto Cuse]

Is this actually true? Is the good Doctor actually leaving? This thread is the only place I have seen this.

 

[CusefanATL]

The last few years, with interest rates at historic lows, were a great time to take on debt.

not sure when they took on the debt but i think they starting building in 2007 which was significantly higher than it is now.

 

[Louie and Bouie]

Is this actually true? Is the good Doctor actually leaving? This thread is the only place I have seen this.

Its on the internet so it must be true. (where is the sarcasm font)

Imho, if he does leave it will be a great loss to the athletic department as a whole.

 

[CusefanATL]

Its on the internet so it must be true. (where is the sarcasm font)

Imho, if he does leave it will be a great loss to the athletic department as a whole.

"bonjour"

 

[RandygoCuse]

"bonjour"

I believe it's "Bonjour?"

 

[kcsu]

I like DG and think that he has been a superb AD. Say what you want but under his watch we have rebuilt the football program, opened a world class Basketball facility, IPF, and of course the ACC. As you all should know if you are the QB you get credit and or fault when it is on your watch. I think he has done a great job and would hate to see him leave

 

[retro44]

When I was leaving campus, construction was going on everywhere:

- The life science building, which is an absolute monstrosity and had to cost tens of millions.
- The School of management
- Ernie Davis Dorms
- Newhouse 3

These building alone had to run the school hundreds of millions.

I worked on that project in 2007 and that building ended up costing more than the original price tag. It was north of a hundred million and I heard it got as high as 135 million. There was some of the biggest airhandling units that I ever saw.

Two floors worth of mechanicals on top, then the basement.

The price tag might have included all the high tech tools needed for schooling

 

[N.Y. Orangeman]

I think DG is getting way to much credit, credit that rightly belongs to many others, in this thread. I'm not worried in the least in finding a replacement.

 

[anomander]

I think DG is getting way to much credit, credit that rightly belongs to many others, in this thread. I'm not worried in the least in finding a replacement.

Just look how great it turned out for Rutgers.

 

[N.Y. Orangeman]

Just look how great it turned out for Rutgers.

Fortunately, we control our own course and we are nothing like Rutgers.

 

[anomander]

Fortunately, we control our own course and we are nothing like Rutgers.

at the time Hermann was looked at as a good hire coming. all i'm saying is every time you make a new hire it's a real crap shoot on how it will turn out. we just have to be careful what we wish for.