Time to wheel onstage at the University of Louisville John Dowland’s melancholy air.
Now that the school’s longtime chiseling president and his cronies (some of them? most of them?) have been, uh, made to absent themselves from felicity, the question is: Shall we sue to get back at least a little of the tens of millions they seem to have .. taken? Or shall we, as we desperately seek a new president, say fuck it – We’ll never find a non-larcenous president if we’re on the front page of every paper in the country – UNIVERSITY SUES PRESIDENT FOR MILLIONS IN STOLEN FUNDS — a national embarrassment, a school universally ridiculed as the U of Smell for years of financial and sexual scandals… Plus it’ll cost a fortune to sue these assholes…
ON THE OTHER HAND! It somewhat rankles that Ramsey took all our money and bought four houses and …
Auditors determined Ramsey was paid $12.4 million by the university and the [university’s fund-raising] foundation [which Ramsey also ran!!] from 2010 through 2016, including $7.2 million in deferred compensation. The report shows Ramsey and eight other employees collected $21.8 million in deferred compensation, apparently without foundation board approval.
Two days after his forced resignation last July, Ramsey and his wife paid $800,000 in cash for a 4,200-square-foot home in Miramar Beach, Florida. They also own two other Florida properties purchased for a combined $1.08 million, as well as a $470,000 home in Oldham County.
Yeah, don’t worry ’bout little Jim Ramsey!
“Don’t worry about me. Nobody is more blessed than Jim Ramsey of Fern Creek, Ky.”
Little Jimbo! Blessed, blessed, a thousand times blessed! Just a little ol’ fella from Fern Creek, Ky!
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All the rats are scrambling:
[E]x-foundation officer Kathleen Smith, who was fired in June, [has reportedly] recently moved about $800,000 worth of properties to limited liability corporations.
I mean, the endowment was just sitting there:
[T]he foundation’s officers and directors depleted the university’s endowment to fund excessive spending on compensation, football tickets and bad investments in real estate and start-up companies.
Hate to quote myself, but…
How did U of L get so bad? Just put it together. Just put it all together: The southland, good old boys, football, basketball, sex, and money. Add a hundred jiggers of Kentucky bourbon for a brilliant finish.
This here’s a BIG ol’ story, folks. Hold on to your hats.
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August 12th, 2017 at 5:25PM
In that “blessed” link, Ramsey claims that it’s not a big deal that employees stole at least $7 million from the U of L. Insurance covered all but a few thousand dollars. How’s that for uni corporate style governance? Let someone else deal with institutional corruption and criminality, we’re too busy not teaching, nor researching, nor doing much of anything at all, to look at audit reports.
Gotta wonder what insurance carriers are thinking of Ramsey’s apologia. Somehow, he, and the yobbs that run that other puss filled boil, Penn State, believe as long as their premiums are current, they can do just about anything they want. I’m guessing the U of L’s insurer isn’t sanguine about Jimbo’s idiotic statement. Without any of these unis attempting to mitigate risk, the carriers will have no choice but to drop coverage, which will make tuition explode. I’m thinking that it’s the insurance companies that will get rid of the criminals that run USAAmerican unis. The governing systems, including Faculty Senates, state legislatures, and the Fed Department of Education, are far too compromised….