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How Much Is a Million Dollars?
In looking at the huge losses suffered by the College at the hands of hedge fund managers and investment banks peddling bad investments and complex derivatives plays to untrained Dartmouth staffers — cash losses in 2009 alone of $31,978,000 in failed hedge fund investments and $43,014,000 from complex interest swap derivatives — large figures shouldn’t lead us to lose sight of the real meaning of money.
Let’s translate this waste back into reality. How much is a million dollars?
● One year of teaching by four senior professors lured from other schools to enrich our weakest departments;
● Eight young, tenure-track profs teaching for a year — newly mined PhD’s who are desperately looking for jobs;
● Ten adjunct professors visiting the College for a year to teach subjects that are not ordinarily found in our curriculum;
● The budget for the men’s and women’s swim team for two years;
● Fifteen years of budget for the club sports program, enjoyed by a quarter of all undergraduates;
● Provost Folt’s salary and expenses for a two years (not including office redecoration);
● Two years payment for the return of high quality photocopiers and printers for members of the faculty, so that they don’t have to wait for slow or broken-down machines;
● Three days of Dartmouth’s bloated benefits package;
● Three days of excess salary and excess staff members.
● An infinite amount of blogging to expose just how poorly managed Dartmouth really is.
As they say in the Pentagon: “A million dollars here, a million dollars there, and pretty soon you’re talking real money.”
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…
August 23, 2009
Fare Thee Well, Tom Crady
And now Dean Tom Crady has precipitously announced his departure from the College after only 20 months on the job. How to read this? By way of background, prior to coming to Dartmouth, Crady had…
May 31, 2009
Kangaroo Court, Indeed
In an interview with The Dartmouth, alumni-elected trustee T.J. Rodgers ‘70 explained his reasons for declining to participate in future evaluations of trustees up for “re-election,” namely the “kangaroo court” nature of such discussion in…