Executive Hubris or Business as Usual?

[Modern School]

Thirty-six of the University of California’s highest paid executives are demanding tens of millions of dollars in increased retirement benefits, at a time when they are raising tuition and cutting benefits for their lowest paid employees, and they are threatening to sue UC if they refuse to go along.

UC bosses presently only earn retirement benefits on salaries up to $245,000. Those earning more than this want all of it covered, which could raise their benefits to over $300,000 per year. This poses a problem for the UC system, which is trying to cut a $21 billion pension obligation by reducing benefits. If the top bosses’ demands are met, it would add an additional $5.5 million per year to pension costs, plus $51 million in retroactive benefits, while their legal challenge could cost the university millions more.

For the rest of the article, please visit http://modeducation.blogspot.com/2010/12/executive-hubris-or-business-as-usual.html

[Vincardog]

1. I vote for Executive Hubris

[DCKit]

2. If they were competent administrators, there would be no need of tuition hikes. nt

[damntexdem]

3. Is there a difference?