This space is reserved for remarks, comments or analysis of any issue of concern to the Pace community. The Blog is NOT moderated and thus the adminstrator reserves the right to delete any posts that are deemed to be inappropriate either in tone or in contents. Discourse is encouraged as long as it remains civil and constructive. Let the games begin.

Tuesday, December 05, 2006

Another Faculty Response to the Board of Trustees

We received this morning the attached proposed response to the letter from the Board of Trustees. Keep the conversation going. Send us your views and comments.


The faculty council welcomes the sprit of the response from the Board of Trustees to their October 20th motions. We accept their good will and desire to cooperate, which will allow us to work out the details of the proposals in an acceptable manner. We do not, however, believe that the problems facing Pace University are new, nor do they stem from market conditions. Instead, they are institutionally specific and stem from systematic mismanagement at the highest levels.

We do not agree that Dr. Caputo deserves credit for the Fulbright awards and increases in research grants. These were accomplished by faculty and students in spite of continuous cuts in academic programs. That our adjuncts and part time faculty for the first time in 100 years felt the need to unionize and that therefore President Caputo was required to engage in collective bargaining is not to his credit. . Gift giving may have increased but we do not see anything but cuts to the academic programs.

These dubious accomplishments must be weighed against the following by no means exhaustive list of failures.

Enrollment has shrunk dramatically during his tenure.
Tuition setting policies that have led to this crisis were amateurish to say the least.
The president has failed in augmenting the endowment fund through attracting donations. The fund is now at the same level as it was six years ago and is inadequate relative to the university budget which has increased over 50% in that time.
Financial performance of the endowment has been sub par.
Administrative structure is too top heavy and the level of compensation is inappropriate
The no shared governance model has led to alienation of faculty, staff and students.
The culture of a “Cult of Personality” (Official web pages that credit the leadership of David Caputo for having increased enrollment.). is unseemly for an intellectual community
Contrary to the strategic agenda, the academic standing of the institution has suffered
The outrageous treatment of students exercising their first amendment rights and trying to live the democratic ideals we have been teaching.
Programs, institutes, centers and study groups have proliferated at the expense of revenue generating student centered academics.
The neglect of the core revenue deriving business has led to near junk rating for the institutions bonds and a meltdown in the overall net worth of the university to dangerous levels.

The Pace University Community supports the Board of Trustees and will work together to restore the vibrancy, growth and enthusiasm that marked the previous century of Pace University. However, we have no confidence that Dr. Caputo has the ability to lead us out of our present crisis. We urge the board to replace him.


At 11:50 AM, Anonymous Anonymous said...

The chairman and the king do not have the leadership qualities to build motivation and morale-------and the shared values that underlie them.Without motivation and morale,we are unlikely to achieve excellence or to provide the environment in which individual excellence can occur.

At 11:52 AM, Anonymous Anonymous said...

ditto to the above.

At 12:42 PM, Anonymous Anonymous said...

this is the most important post on this whole it and weep!!!

At 1:18 PM, Anonymous Anonymous said...

if you agree with the post above "YOU MUST VOTE NO CONFIDENCE"

At 4:04 PM, Blogger Blind Professor said...

We are way past looking at excellence as the problem. Financial exigency is the issue. We must restructure what we have and develop a course of action that we all buy into to build enrollment and customer retention.

At 7:00 PM, Anonymous Anonymous said...

Let us stop repeating the same story. It is time to stand up or shut up.

At 8:06 PM, Anonymous Anonymous said...

What makes you all think that the Board will accept our vote of no confidence??

At 9:03 PM, Anonymous Truth Seeker said...

A position is worth taking NOT because of the potential rewards but when one is convinced that a certain stand is honorable and just.

We should not worry whether the Board would agree with us or whether they will disagree. Our stand should be dictated by the merits of the case. It is the only way to behave honorably.

The evidence is clear, the current leadership has failed and we need to have the courage to yell out loud that the emperor has no cloths. If we do not then shame on us.

At 6:32 AM, Anonymous Anonymous said...

We are way past looking at excellence as the problem. Financial exigency is the issue. We must restructure what we have and develop a course of action that we all buy into to build enrollment and customer retention.................. (1)The chairman and the king do not have the leadership qualities to build motivation and morale-------and the shared values that underlie them.Without motivation and morale,we are unlikely to achieve excellence or to provide the environment in which individual excellence can occur.......................Why would anybody of sound mind pay our tuition without the guarantee of "EXCELLENCE".................

At 6:49 AM, Anonymous Anonymous said...

Is this a zero sum game?

At 6:55 AM, Anonymous Anonymous said...

It is naval tradition that a captain should not flee a sinking ship but should instead stay and drown.................captain this is not the Navy you can leave.

At 6:56 AM, Anonymous Anonymous said...

Anonymous said...

Let us stop repeating the same story. It is time to stand up or shut up.

7:00 PM

At 6:57 AM, Anonymous Anonymous said...

......................Why would anybody of sound mind pay our tuition without the guarantee of "EXCELLENCE"...........

At 7:34 AM, Anonymous Anonymous said...

Why did President Caputo have two security officials including Beatty at the WFC on Dec 1, 2006?

At 8:31 AM, Anonymous Anonymous said...

Quick question: when we criticize the performance of the fund's endowment, aren't we implicitly asking the Board to shift a higher percentage of our endowment into hedge funds? I know some colleges with similar-size endowments have invested 100% of their endowments into hedge funds & I know they've done well (while, of course, living with much greater risk). Given the inherent trade-off between risk & reward, are we wise to push for greater reward &, thus, greater risk? To be frank, I'm not arguing for or against a switch to hedge funds; I'm really just curious to know what everyone else thinks. [I can see arguments on both sides of the issue, so I'm afraid I have to say I'm an agnostic on the idea.]

At 8:34 AM, Anonymous Anonymous said...

Anonymous said...

Let us stop repeating the same story. It is time to stand up or shut up.

7:00 PM

6:56 AM

At 8:58 AM, Anonymous Concerned said...

Annonymous 8:31,
Cash is the safest asset. Surely you are not suggesting that the endowment should be held either in cash or maybe even short term US securities in order to reduce volatility and risk or are you?

At 10:47 AM, Anonymous Anonymous said...

king is spelled................Failure (or flop) in general refers to the state or condition of not meeting a desirable or intended objective. It may be viewed as the opposite of success.......

At 10:53 AM, Anonymous Anonymous said...

tp,etc al
You win only if you aren't afraid to lose. -

At 12:38 PM, Anonymous Anonymous said...

So, why don't all of us get together and picket the prez & his cohorts? I'm sure we can find an opportunity in the next few days. Doesn't the administration hold lavish parties anywhere?

Who's with me?

At 1:23 PM, Anonymous Anonymous said...

To Anonymous 8:58, I'm not actually suggesting anything; I'm really just asking. It seems to me that we can't complain about the endowment's anemic returns w/o offering an alternative investment strategy & since other colleges are going towards hedge funds, I think we have to consider doing the same. My point is that moving towards hedge funds is risky, so I'm trying to get a sense of our risk tolerance. I could be persuaded either way.

At 5:44 AM, Anonymous Anonymous said...

hedge funds and returns. The compound returns would have been around 30% over 6 years had they simply put it in a savings account.

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