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<div class="moz-cite-prefix"><big><big>And how much of that revenue
went into the pockets of the banking / finance sector, using
the U.S. government as intermediary and enforcer ?<br>
<br>
David J.<br>
<br>
<br>
</big></big>On 6/1/2014 8:08 AM, via Peace-discuss wrote:<br>
</div>
<blockquote cite="mid:20140601130859.21784.qmail@station195.com"
type="cite">
<div>I saw an amazing statistic that the Revenue the US
Government receives from interest payments in the Education Loan
system is more than double the profit of Royal Dutch Shell Oil
company, the world's most profitable company.<br>
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<td>-------Original Message-------<br>
From: Carl G. Estabrook via Peace-discuss
<a class="moz-txt-link-rfc2396E" href="mailto:peace-discuss@lists.chambana.net"><peace-discuss@lists.chambana.net></a><br>
To: <a class="moz-txt-link-abbreviated" href="mailto:peace-discuss@anti-war.net">peace-discuss@anti-war.net</a><br>
Subject: [Peace-discuss] Fwd: [Marxism] Student Debt Grows
Faster at Universities With Highest-Paid Leaders, Study
Finds<br>
Sent: May 19 '14 12:56<br>
<br>
<div><br>
<br>
Sent from my iPhone</div>
<div><br>
Begin forwarded message:<br>
<br>
</div>
<blockquote>
<div><strong>From:</strong> Louis Proyect <<a
moz-do-not-send="true" href="mailto:lnp3@panix.com"
target="_blank">lnp3@panix.com</a>><br>
<strong>Date:</strong> May 19, 2014, 8:15:39 AM
GMT+08:00<br>
<strong>To:</strong> "C. G. Estabrook" <<a
moz-do-not-send="true"
href="mailto:galliher@illinois.edu" target="_blank">galliher@illinois.edu</a>><br>
<strong>Subject:</strong> <strong>[Marxism] Student
Debt Grows Faster at Universities With Highest-Paid
Leaders, Study Finds</strong><br>
<strong>Reply-To:</strong> Activists and scholars in
Marxist tradition <<a moz-do-not-send="true"
href="mailto:marxism@lists.csbs.utah.edu"
target="_blank">marxism@lists.csbs.utah.edu</a>><br>
<br>
</div>
</blockquote>
<blockquote>
<div><span>======================================================================</span><br>
<span>Rule #1: YOU MUST clip all extraneous text when
replying to a message.</span><br>
<span>======================================================================</span><br>
<span></span><br>
<span></span><br>
<span>NY Times, May 18 2014</span><br>
<span>Student Debt Grows Faster at Universities With
Highest-Paid Leaders, Study Finds</span><br>
<span>By TAMAR LEWIN</span><br>
<span></span><br>
<span>At the 25 public universities with the
highest-paid presidents, both student debt and the
use of part-time adjunct faculty grew far faster
than at the average state university from 2005 to
2012, according to a new study (<a
moz-do-not-send="true"
href="http://www.ips-dc.org/reports/one_percent_universities"
target="_blank">http://www.ips-dc.org/reports/one_percent_universities</a>)
by the Institute for Policy Studies, a left-leaning
Washington research group.</span><br>
<span></span><br>
<span>The study, &l dquo;The One Percent at State
U: How University Presidents Profit from Rising
Student Debt and Low-Wage Faculty Labor,” examined
the relationship between executive pay, student debt
and low-wage faculty labor at the 25 top-paying
public universities.</span><br>
<span></span><br>
<span>The co-authors, Andrew Erwin and Marjorie Wood,
found that administrative expenditures at the
highest-paying universities outpaced spending on
scholarships by more than two to one. And while
adjunct faculty members became more numerous at the
25 universities, the share of permanent faculty
declined drastically.</span><br>
<span></span><br>
<span>“The high executive pay obviously isn’t the
direct cause of higher student debt, or cuts in
labor spending,” Ms. Wood said. “But if you think
about it in terms of the allocation of resources, it
does seem to be the tip of a very large iceberg,
with universities that have top-heavy executive
spending also having more adjuncts, m ore tuition
increases and more administrative spending.”</span><br>
<span></span><br>
<span>Since the 2008 financial crisis, the report
found, the leaders of the highest-paying
universities fared well, largely at the expense of
students and faculty.</span><br>
<span></span><br>
<span>“Like executives in the corporate and banking
sectors, public university presidents weathered the
immediate aftermath of the fall 2008 financial
crisis with minimal or no reductions in total
compensation,” the report said.</span><br>
<span></span><br>
<span>While the average executive compensation at
public research universities increased 14 percent
from 2009 to 2012, to an average of $544,554,
compensation for the presidents of the
highest-paying universities increased by a third, to
$974,006, during that period.</span><br>
<span></span><br>
<span>The Chronicle of Higher Education’s annual
survey of public university presidents’
compensation, also released Sunday, found that nine
chief executives earned more than $1 million in
total compensation in 2012-13, up from four the
previous year, and three in 2010-11.</span><br>
<span></span><br>
<span>The median total compensation of the 256
presidents in the survey was $478,896, a 5 percent
increase over the previous year.</span><br>
<span></span><br>
<span>But, The Chronicle found, chief executives were
hardly alone among the highest-paid public
university officials. Athletic coaches made up 70
percent of the public university employees earning
more than $1 million last year, and medical doctors
another 20 percent.</span><br>
<span></span><br>
<span>As in several past years, the
highest-compensated president, at $6,057,615 in this
period, was E. Gordon Gee, who resigned from Ohio
State last summer amid trustee complaints about
frequent gaffes. He has since become the president
of West Virginia University.</span><br>
<span></span><br>
<span>In the study by the Institute for Policy
Studies, Ohio State was No. 1 on the list of what it
called the most unequal public universities. The
report found that from fiscal 2010 to fiscal 2012,
Ohio State paid Mr. Gee a total of $5.9 million.
During the same period, it said, the university
hired 670 new administrators, 498 contingent and
part-time faculty — and 45 permanent faculty
members. Student debt at Ohio State grew 23 percent
faster than the national average during that time,
the report found.</span><br>
<span></span><br>
<span>Others on the “most unequal” list were
Pennsylvania State University, the University of
Minnesota, the University of Michigan and the
University of Washington.</span><br>
<span>________________________________________________</span><br>
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