Now it hits the Big Boys wallets | Page 2 | The Boneyard

Now it hits the Big Boys wallets

freescooter said:
John While I agree with some of this, there was a great piece on the public university “business model” recently that I read. The New Yorker I think but could have been the Times. Most public universities were already under funded relative to where they where prior to the 2008 recession. As a result they have been operating based on unsustainable models for a while. Federal funds that go to students through such things as PELL grants and various student loans, and by increasing the numbers of non-state and international students who can pay full freight. And on Top of that over the past few decades universities have felt the need to add fairly expensive “fun” elements, gyms in dorms, apartments with all the amenities rather than double dorm rooms, movie Theaters and malls on campus. Recruiting students has become an industry that didn’t exist 20 years ago. And since no one focuses on education, after all most first time consumers are 18-19, faculty are no longer full time tenured professors but adjuncts. The makeup has gone from 70-30 to 45-55 full time to adjunct since the early 2000s. Now Covid 19 hits an the income side takes a huge hit, the schools have Fixed costs of these facilities and fewer students, thus fewer federal dollars since that money goes with the student. Despite their arrogance and supposed independence athletic departments are part of the larger institution so they are getting hit by both losses of their traditional income, tickets, tv , and getting hit by the same losses at the institutional level. They really couldn’t plan for that. UNC for example, or Michigan State face huge losses in covering the operating costs for everything from dorms to gyms to losses of literally millions in parking ticket revenue. Athletic departments have really just mirrored the activities of the larger universities building practice facilities with tons of amenities because you know football players and basketball players can’t possibly lift the same weights and need their own lazy rivers...now they have to carry those costs without the revenues just like their institutions.
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Thanks for this. I have a stack of New Yorkers to read on vacation next month. Also electronic NYT access.
 
BigTenFan said:
Living in CT I understand a lot of money and support from families goes to the Private Universities. However, as taxpayers we all directly pay into the state university system. I think we should have a flagship state University that is better run. In full disclosure my son chose Purdue over UConn because of a better ROI and not a huge price differential. A lot of young people are heading out of state for better opportunities.
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I absolutely love New England in the fall. But there is also an intense charm in the midwest during fall. I've spent some time in both Indiana and Wisconsin. Love those states in the fall.
 
RSTuthill said:
I absolutely love New England in the fall. But there is also an intense charm in the midwest during fall. I've spent some time in both Indiana and Wisconsin. Love those states in the fall.
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I agree- Fall in New England is spectacular
If you are a big college football fan .....nothing beats Camp Randall in Madison for a big game in November
 
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Pudge said:
Once again ... you don't understand a topic; but rant anyway. Business interruption insurance should not have been unaffordable. Yes ... it's VERY common. And we answer the Pandemic variable every day: it would never have been outrageous in cost. This absolutely wasn't predictable or underwriteable. Going forward? Cost is far far higher.
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Been in the insurance and financial services industry 38 years but you know it better than me - sure. You have no clue.
 
Not playing this year is ranked right up there with any one of our recent bad football coach hiring decisions.
 
Chief00 said:
Been in the insurance and financial services industry 38 years but you know it better than me - sure. You have no clue.
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Chief, you lose all credibility unless you are speaking in the third person.
 
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Chief00 said:
Not playing this year is ranked right up there with any one of our recent bad football coach hiring decisions.
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Every state flagship university in the northeast has cancelled football: UMaine, UNH, UMass, URI, UConn, SUNY Albany, SUNY Buffalo, SUNY Stony Brook, Rutgers, Penn St., Delaware, Maryland. And, there was no way to make a reasonable schedule. As much as I think football could be played, the decision was the right one.
 
UConnJim said:
Every state flagship university in the northeast has cancelled football: UMaine, UNH, UMass, URI, UConn, SUNY Albany, SUNY Buffalo, SUNY Stony Brook, Rutgers, Penn St., Delaware, Maryland. And, there was no way to make a reasonable schedule. As much as I think football could be played, the decision was the right one.
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So you are advocating falling behind in football, just like many schools in the northeast do?
 
UConn could have scheduled some meaningless games but would lose more money than not playing. UConn will be a more mature and hopefully better team. Most will agree it is a safer decision but really it was the easier decision.
 
It was the right decision all around. I can see the argument to play or not play given the overall health of these kids, but I don't know how you justify the real or perceived risks to them. As for the spread of the virus to higher risk populations which includes many coaches and trainers, that becomes even more difficult to justify.

For UCONN specifically, and to be very frank, I think this plays into the programs chances to get back on its feet. This group is very young and needs more time for physical development. This program is in a really tough spot and I think this gives a better chance to get back on track. The scheduling was going to be a nightmare of the first order as well.
 
Chief00 said:
So you are advocating falling behind in football, just like many schools in the northeast do?
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UConn cannot actually fall any further behind in football than they already have and it has nothing to do with the virus. The virus actually is allowing UConn some time to catch its breath and see what the future will now bring. Once the conferences decided not to play out of conference, who would be left for UConn to play? When and where? UConn fell behind in football after the Fiesta Bowl and has never recovered.
 
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I can’t stress enough how unpopular this decision is with the players and the possibility of a transfer dam break that may result.
 
Chief00 said:
I can’t stress enough how unpopular this decision is with the players and the possibility of a transfer dam break that may result.
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time will tell. Let’s see how many key seniors and RS juniors jump ship in the next few months.. underclassmen with playing time issues now due to extra eligibility might jump ship but I’m more concerned about the older experienced ones leaving.
 
BigTenFan said:
I agree- Fall in New England is spectacular
If you are a big college football fan .....nothing beats Camp Randall in Madison for a big game in November
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Have been to several games at Camp Randall. And State Street after a Badger victory is a zoo.
 
Chief00 said:
I can’t stress enough how unpopular this decision is with the players and the possibility of a transfer dam break that may result.
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Chief, you need to let it go. If you think UConn could have played this year, please list the 10 games and teams that UConn could have played this year as there were only 3 games on the schedule that could have been played, Army, Middle Tennessee, and Liberty.

Almost half of FBS schools have cancelled the fall season and all FCS, D2, and D3 conferences have cancelled football. Plus, the NCAA cancelled all fall sports championships. And, I’m confident there will be more football games postponed or cancelled.

Personally, I don’t think cancelling sports was the right decision, but the decision has been made and everyone needs to move on and focus on the future.
 
UConnJim said:
Chief, you need to let it go. If you think UConn could have played this year, please list the 10 games and teams that UConn could have played this year as there were only 3 games on the schedule that could have been played, Army, Middle Tennessee, and Liberty.

Almost half of FBS schools have cancelled the fall season and all FCS, D2, and D3 conferences have cancelled football. Plus, the NCAA cancelled all fall sports championships. And, I’m confident there will be more football games postponed or cancelled.

Personally, I don’t think cancelling sports was the right decision, but the decision has been made and everyone needs to move on and focus on the future.
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Does anyone know if UConn coaches are taking a voluntary pay cut like other schools?
 
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BigTenFan said:
Does anyone know if UConn coaches are taking a voluntary pay cut like other schools?
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I don't know but they make next to nothing as it is so I'm not sure a pay cut really helps here.....
 
Chief00 said:
I can’t stress enough how unpopular this decision is with the players and the possibility of a transfer dam break that may result.
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Where are they going to transfer to? Half of FBS closed down. Who do the players expect UConn to play if they didn't shut it down? Your argument just doesn't make sense and if the players really aren't fans of it, I would imagine they'd see the reality of what they had ahead of them in terms of having a schedule of 3 teams....

Our players are smart, young men who can see what is happening around them in terms of not having a viable schedule.
 
I imagine the players wanted to play but some of the better senior players were probably in favor of an extra year to improve and hopefully play more meaningful games and get noticed?
 
Chief00 said:
Been in the insurance and financial services industry 38 years but you know it better than me - sure. You have no clue.
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No attack on a UConn fan but glad your not my agent.

Chief00 said:
Not playing this year is ranked right up there with any one of our recent bad football coach hiring decisions.
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Your cred goes down hill each time you post, you even have lost your I know it all approach.
Chief00 said:
So you are advocating falling behind in football, just like many schools in the northeast do?
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Explain who they should play and who would pay the freight. You rant and rattle but supply no solutions for those that have very hard decisions to make.

Chief00 said:
I can’t stress enough how unpopular this decision is with the players and the possibility of a transfer dam break that may result.
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Please post all the players you have talked to and where they would possibly transfer to, that might be playing football in D1 that needs our players this year. It would be very helpful for some to understand your in depth knowledge of the UConn football situation.
 
As a risk manager on Wall Street for the past 30 years I can personally attest to the fact that while pandemic insurance and resulting business interruption insurance was available pre COVID (and yes, I looked at the product), the cost of the product, deductibles and relatively small limits available didnt make sense from our prospective. It is hard to justify the spend for such a black swan event. Very few people bought it outside of specialty one time events such as the Tokyo Olympics or Wimbledon. Most of the hospitality and entertainment sector didnt buy it, and most of the Fortune 1000 didnt buy it. Your spend goes to things that are more likely to impact you, like windstorm, wildfires etc. For most of us that do this, you didnt pass on the coverage because you were clueless, you passed on it because you have a limited spend and try to use it where it makes the most sense, based on the most likely risks you see at the time. Now, of course, the coverage has dried up, but you may see some type of government backstop in the future like how we deal with terrorism risk through the TRIA act. Also, even if we did buy it, given the way the bank has performed during COVID, where we have made MORE money due to the pandemic, we wouldnt have had a BI claim to make anyway. Same thing happened to us post 9/11, we made MORE money after 9/11 than we were making before. Not every business loses during black swan events, some make more money. Which is exactly why you are seeing the disconnect to the pain of businesses on Main St, but Wall Street and companies like Amazon and Apple that are killing it.
 
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WallStreetHusky said:
As a risk manager on Wall Street for the past 30 years I can personally attest to the fact that while pandemic insurance and resulting business interruption insurance was available pre COVID (and yes, I looked at the product), the cost of the product, deductibles and relatively small limits available didnt make sense from our prospective. It is hard to justify the spend for such a black swan event. Very few people bought it outside of specialty one time events such as the Tokyo Olympics or Wimbledon. Most of the hospitality and entertainment sector didnt buy it, and most of the Fortune 1000 didnt buy it. Your spend goes to things that are more likely to impact you, like windstorm, wildfires etc. For most of us that do this, you didnt pass on the coverage because you were clueless, you passed on it because you have a limited spend and try to use it where it makes the most sense, based on the most likely risks you see at the time. Now, of course, the coverage has dried up, but you may see some type of government backstop in the future like how we deal with terrorism risk through the TRIA act. Also, even if we did buy it, given the way the bank has performed during COVID, where we have made MORE money due to the pandemic, we wouldnt have had a BI claim to make anyway. Same thing happened to us post 9/11, we made MORE money after 9/11 than we were making before. Not every business loses during black swan events, some make more money. Which is exactly why you are seeing the disconnect to the pain of businesses on Main St, but Wall Street and companies like Amazon and Apple that are killing it.
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Much thanks for cogent and informative post. For a minute I forgot I was on the Boneyard :)
 
Woof 101 said:
No attack on a UConn fan but glad your not my agent.



Your cred goes down hill each time you post, you even have lost your I know it all approach.

Explain who they should play and who would pay the freight. You rant and rattle but supply no solutions for those that have very hard decisions to make.


Please post all the players you have talked to and where they would possibly transfer to, that might be playing football in D1 that needs our players this year. It would be very helpful for some to understand your in depth knowledge of the UConn football situation.
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No disrespect, but I don’t have the time to answer all of your senseless nonsense. I am not an insurance agent, there are other jobs in the industry but that is where it all starts. We have rules about not discussing specific transfers and you display an ignorance about how the process works via NCAA rules. In theory, guys post availability in the portal - then they get contacted by other schools or reach out to them. There were plenty of schools they could have scheduled - not a premier schedule but one that got the players on the field. You show a lot of ignorance in nearly all your comments.
 
WallStreetHusky said:
As a risk manager on Wall Street for the past 30 years I can personally attest to the fact that while pandemic insurance and resulting business interruption insurance was available pre COVID (and yes, I looked at the product), the cost of the product, deductibles and relatively small limits available didnt make sense from our prospective. It is hard to justify the spend for such a black swan event. Very few people bought it outside of specialty one time events such as the Tokyo Olympics or Wimbledon. Most of the hospitality and entertainment sector didnt buy it, and most of the Fortune 1000 didnt buy it. Your spend goes to things that are more likely to impact you, like windstorm, wildfires etc. For most of us that do this, you didnt pass on the coverage because you were clueless, you passed on it because you have a limited spend and try to use it where it makes the most sense, based on the most likely risks you see at the time. Now, of course, the coverage has dried up, but you may see some type of government backstop in the future like how we deal with terrorism risk through the TRIA act. Also, even if we did buy it, given the way the bank has performed during COVID, where we have made MORE money due to the pandemic, we wouldnt have had a BI claim to make anyway. Same thing happened to us post 9/11, we made MORE money after 9/11 than we were making before. Not every business loses during black swan events, some make more money. Which is exactly why you are seeing the disconnect to the pain of businesses on Main St, but Wall Street and companies like Amazon and Apple that are killing it.
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Thank you and I agree as someone whose been in the insurance industry over 3 decades. This is what I was trying to explain to @Pudge. Companies have a limited pot of money to mitigate risk and must prioritize based on reasonable criteria. But, you explained it better. Black swan events are just that.
 
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Chief00 said:
There were plenty of schools they could have scheduled - not a premier schedule but one that got the players on the field. You show a lot of ignorance in nearly all your comments.
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Chief, please don't make statements that can't be supported with basic research.

UConn had 3 games on the schedule that could be played: Army, Liberty, and Middle Tennessee. There was a very limited number of teams that were even available to schedule and you would have to find a mutually agreeable date to play, which is not easy.

Here's a look:

P5 games:
Big 10 - no
Pac 12 - no
SEC - no
ACC - maybe 1 was available.
Big 12 - no
Independents - ND - no

G5:
MAC - no
Mountain West - no
AAC - probably not
Independents:
UMass - no
NM St. - no

I-AA: no

Old Dominion CUSA - no

Teams left:

BYU, CUSA teams and Sun Belt teams.

Bottom line, there were only 23 teams available to possibly schedule 7 to 9 games.

Maybe you think there could have been a schedule, but I don't think any reasonable person sees it that way.
 
UConnJim said:
Chief, please don't make statements that can't be supported with basic research.

UConn had 3 games on the schedule that could be played: Army, Liberty, and Middle Tennessee. There was a very limited number of teams that were even available to schedule and you would have to find a mutually agreeable date to play, which is not easy.

Here's a look:

P5 games:
Big 10 - no
Pac 12 - no
SEC - no
ACC - maybe 1 was available.
Big 12 - no
Independents - ND - no

G5:
MAC - no
Mountain West - no
AAC - probably not
Independents:
UMass - no
NM St. - no

I-AA: no

Old Dominion CUSA - no

Teams left:

BYU, CUSA teams and Sun Belt teams.

Bottom line, there were only 23 teams available to possibly schedule 7 to 9 games.

Maybe you think there could have been a schedule, but I don't think any reasonable person sees it that way.
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I don’t have time to research 300 schedules but didn’t ND just schedule USF? I can’t believe that other independents did not lose games and if we worked together couldn’t cobble together an imperfect season. The players almost to a man are totally disgusted with what went down. Not sure what Nebraska and Iowa finally decided to do? My guess is the Big Ten will reverse itself and play something. I think there may have been ACC opportunities too along with schools the level of Central. If we needed to play teams twice - so what? It would have really branded us as a football school. Big missed opportunity. If you are looking at it as the quality of the opponent - I think that’s the wrong view - this year it is all about the Will Power to play football - and we unfortunately failed that test. That would have been huge - regardless of who we played. Chess vs. checkers.
@Waquoit
 
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