Saturday, January 26, 2013
A Crack in the TTT Foundation: Vermont Law School is Cutting Back on Staff – and Making Faculty Non-Salaried
The Splendid News:
On January 18, 2013, Valley News published an article from Jon Wolpers, under the headline “Vermont Law School Gives Buyouts to 10 Workers.” Check out this excerpt, from this glorious piece:
“The downsizing comes as a result of fewer applications over the past three years, VLS officials said, a problem that exists for law schools nationwide as potential students, dissuaded by a lack of open law jobs, don’t bother to apply.
[VL$ spokeswoman Carol] Westberg said that about 200 students are set to graduate with juris doctor degrees this spring. She said the school is predicting between 150 and 170 students to enroll this coming fall.
“Essentially, law schools across the country have to figure out how legal education is changing, and how to deal with fewer applicants,” Westberg said.
Although the school’s faculty members haven’t been affected yet, [pre$idenTTT Marc] Mihaly said that a similar buyout program is in the planning stages for professors.
That plan would have professors retain their titles, but no longer be salaried, instead working on a part-time or class-to-class basis.
“It’s really not a separation, as much as a change in status,” Mihaly said.
Those offers will be sent to faculty members in early February, he said. He was unsure of the amount of full-time positions that would need to be excised, saying that depended on next year’s total enrollment.
“We just don’t know where we’re at yet,” he said. “We’ll know more mid-year.” [Emphasis mine]
I cannot wait to see these overpaid, under-worked law school pigs bring home less loot, each pay period! When you consider how many students these trash heaps have financially ruined every single year, you should not have any sympathy for the thieving bastards. For $ome rea$on, the parasites chose to release low-wage workers before getting to the foul “educators.” Evidently, this makes great economic sense to these blowhards.
The Commode’s Financial Health:
Let’s take a look at the 2011 Form 990 for Employer ID No. 23-7251952, i.e. VermonTTT Law $chool. On the bottom of page 1, line 22, you will note that the “no-profit” corporation reported having only $26,523,138 in total net assets, as of June 30, 2011. That is a very small endowment, for a supposed “institution of higher learning.”
Under line 12, you will see that the private, independent garbage heap had $36,613,766 in total revenues, for that particular tax year. Line 18 shows that the school’s expenses exceeded total income. Specifically, the toilet spent a total of $36,707,377 for the tax year ending June 30, 2011. This equates to an outflow of $93,611. By the way, this was before the commode announced that it was expecting much smaller class sizes.
Scroll down to pages 17 and 18 of this tax document, i.e. Part VII – Compensation of Officers, Directors, Trustees. There you will see how the toilet could cut some of its overhead expenses. For instance, Geoffrey B. Shields, then-dean and “president” of the trash heap, raked in $322,005 in TOTAL COMPENSATION, for this specific year. Yes, the bow-tied clown – who holds a BA in Economics from Harvard College – made $306,445 in reportable compensation, plus $15,560 in “estimated amount of other compensation from the organization and related organizations.”
The following figures represent TOTAL COMPENSATION: David Firestone “earned” $174,924 as a “law professor” and supposed expert in Environmental Law. Oliver Goodenough received $172,954; and Marc Mihaly took in $194,336, before becoming dean and “president” of the cesspool.
Tuition: Full-time law students will be slammed with a big-ass tuition bill of $45,207 – for the 2012-2013 school year. Apparently, the pigs have not considered lowering these prohibitive costs - as a way to attract more applicants and students.
Ranking: At such extravagant costs, this must be one hell of an academic institution, right?!?! Well…according to US “News” & World Report, VermonTTT Law $chool is rated as the 119th greatest, most magnificent and prestigious law school in the entire land. What a truly impressive accomplishment, huh?!?!
Average Law Student Indebtedness: USN&WR lists the average law student indebtedness - for those members of the Vermont Law Sewer Class of 2011 who incurred debt for law school - as $136,089. Hell, 86 percent of this class took on such toxic debt. Remember that these figures do not include interest that accrues on the outstanding balance, while the student is enrolled in school.
Conclusion: In the final analysis, VermonTTT Law Sewer is a grossly overpriced dung pile, which provides its students and graduates with abysmal job prospects. You simply DO NOT NEED to incur an additional $150K-$185K in NON-DISCHARGEABLE debt, in order to perform a “public service” or supposedly save the environment. Everything boils down to economics. Unless you come from a wealthy family, you acquire more “education” so that you can improve your employment outlook and increase your earning potential. Try purchasing a home or starting a family, while owing such immense sums of “educational” debt. All of you who helped make this movement possible should rejoice over this news. Let’s make sure to keep these pigs’ feet, faces and asses to the fire!
Posted by Nando at 7:03 AM