uavel President Salary Issue Is Heating Up

[BillyBones]

The Louisville media is digging deeper into the $$$$$$ sewer at Loserville U.and the facts are becoming clearer..Dr.Ramsey is being paid by several slush funds and the school is trying to cover it up..
This will be interesting to see where it goes...

 

[Kybluedude]

It's bad and that UL Foundation looks like a money laundering operation. State audit announced and they again give the Pres another unwarranted raise. They just stick up their middle finger.

 

[akers65]

Having to deal with the two "P's" as well as the AD has to be tuff. He probably deserves the raise. :weary:

 

[UKGrad93]

The president at the school where I work retired this summer, but gets to keep 75% of her salary to teach one class a semester. Several years ago, the school gave her deadbeat husband a title and $100k a year, because he had to attend parities at the free house they live in.

 

[-LEK-]

It's bad and that UL Foundation looks like a money laundering operation. State audit announced and they again give the Pres another unwarranted raise. They just stick up their middle finger.

Actually, it's a huge laundering operation, but pretty sure most universities are. Basically, it's funneling of restricted funds into unrestricted funds. But, look at the Nucleus building. They created an umbrella 501(c)3 to funnel money.

After Felner was busted, Uofl quit exposing people publicly, the loss of funds wasn't worth the backlash. There have been more since.

The grant money laundering is one thing, the private capital projects are another.

Edelon is making a push for governor next cycle. Not sure what he will do.

 

[TCurtis75_rivals88839]

I saw this article today. This could get very interesting.

http://www.leoweekly.com/2015/07/uo...resident-ramseys-taxes/#.VaeLnnARY3Y.facebook

 

[dgtatu01]

I would like to say that he has made U of L a respectable university and he also recently knocked out a $1 Billion dollar fundraising drive so he is doing a much better job than most presidents, he has more than earned the pay. I never begrudge anyone what they are worth, even Cardinals. I'm not a liberal and never will be.

 

[-LEK-]

I would like to say that he has made U of L a respectable university and he also recently knocked out a $1 Billion dollar fundraising drive so he is doing a much better job than most presidents, he has more than earned the pay. I never begrudge anyone what they are worth, even Cardinals. I'm not a liberal and never will be.

That's not the real issue. The billion is great, but that's from teachers, grant writers, etc. the issue is what he is doing with that money, and the kick backs that are not being reported correctly and the private deals. It's a public university

 

[Bill@ModernThirst]

Part of the issue is how they report his pay. As a public employee, his income is subject to public scrutiny. When the university reports a salary, yet it's only 1/3 of what he actually makes (because deferred comp from 2009 isn't included in that income, and wasn't reported in 2009 either), red flags have to go up all over the place. There may not be anything unethical or illegal about it, but the question has to be asked: Why hide it? Why isn't it reported in this year's income? Why wasn't it reported in 2009?

Public figures have to be transparent.

On the flip side, there MAY be some illegality, at least procedurally. State laws require the university president's salary to be overseen by the board of trustees. The foundation is not controlled by the board of trustees at UofL, and they were not aware of the deferred comp (that may have had a lot of number fudging and back-dating anyway). On top of that, the foundation is overseen by Ramsey himself, who is the president of the foundation board. So he's in charge of the organization that is in charge of paying him 2/3 of his income. That seems like a huge conflict of interest.

 

[JohnBlue]

They voted him a 3% raise (today I guess) the publicity and complaints from other schools cost him half of his raise which was going to be 6%. He's making 600k+ as a base salary.

 

[-LEK-]

They voted him a 3% raise (today I guess) the publicity and complaints from other schools cost him half of his raise which was going to be 6%. He's making 600k+ as a base salary.

There is a lot more on the back end they are not counting as well. His private kick backs from the capital development occurring on campus, deferred compensation, etc. He also has a home in Greece, and he receives salaries from the other organizations under the UofL Foundation's umbrella. The nucleus is one. I think there are around 8, but it has been some time so not for sure on exact number here. He receives compensation/salary from those as well. It should also be noted, Ramsey is the head of UofL and the UofL foundation, which are two different entities. Dude is rolling in it.

 

[BlueKel_rivals210266]

Some of the issues are:

*He was already well compensated, and it was his JOB to help UofL raise that $1B endowment

*In public, he "turned down" raises for years looking like a man of the people, while secretly collection millions

*They've had numerous financial scandals under his leadership, and a number of highly documented payoffs as hush money

*It's not just him, but his staff that got significant pay. Plus, it was very shady how they lied/manipulated dates on supposed "deferred" compensation

*It's an ongoing pattern of UofL trying to be very secretive with funds, and not being held accountable to taxpayers for those funds. UofL wants to treat its "Foundation" as a totally separate entity, not subject to state or taxpayer scrutiny. They cannot do that,. The AG has already ruled as such in the past.

*Now, businessman JD Nichols wrote a letter slamming board members and the media for questioning Ramsey's pay and the "work" of the Foundation. He has offered to earmark his donations to the Foundation strictly for compensation of Ramsey and others. Oh, Mr Nichols has a huge contract in place to develop part of UofL's former east end Shelby Campus.

*UofL has had similar secrecy with the McConnell Center. Secret donors that don't want to have their names known. It becomes a big issue because such donors can have a lot of influence on the school, set stipulations to funding, and doing so in secret makes it all very shady.

 

[GYERater]

In the past year UofL has paid a lot of high ranking employees hush money, refused to release details of an audit, hired a lawyer that helped cover up the UNC scandal, and now the state auditor is looking into the UofL foundation, nothing to see here kids lol. Also saw reported somewhere today that the amount of money Ramsey makes a year is a hair over $2.5 million.