Sunday, September 7, 2014

Suffolk University Law School Pigs Up Against the Ropes


http://taxprof.typepad.com/taxprof_blog/2014/08/suffolk-law-school.html

The Commode’s Buyout Offer: On August 30, 2014, Paul Caron posted an excellent piece entitled “Suffolk Law School Offers Buyouts to All Of Its Tenured Faculty.” Here is the entire text of that entry:

“Following up on last month's post, Boston Law Schools Shrink Enrollments, Faculties: Boston Globe, Suffolk University Abruptly Replaces President:

Just days before the start of the new school year, Suffolk University Wednesday abruptly replaced president James McCarthy with a year remaining on his contract, and tapped a veteran educator with a reputation for turning around struggling colleges to serve as interim leader. At an afternoon meeting, the university’s board of trustees voted unanimously to appoint Norman R. Smith, 68, who is best known for his tenure at Wagner College in New York City, where he led a small school on the brink of closing to new prominence.. ...

Given the general decline in law school enrollment, Smith said he would expect to take a “quality over quantity” approach in assembling new classes. “I don’t think there’s growth there,” he said, referring to enrollment. ...

The unexpected change in leadership comes as Suffolk seeks to stabilize its finances and attract students in the college-dense region. Facing a decline in enrollment and revenue, the university announced in June it would freeze employee salaries for the next fiscal year.
 
It also offered buyouts to all law school faculty members with tenure or renewable long-term contracts.

This spring, the university came under fire for requiring tenured faculty to undergo performance reviews, a shift that critics said would undermine academic freedom....

University officials, however, defended the school’s financial standing Wednesday, noting that the endowment has grown by 52 percent since 2011, and its operating surplus has increased. ... Meyer said Suffolk is on solid financial footing, but that Smith keenly understands the difficulties facing tuition-dependent schools with modest endowments.” [Emphasis mine]

Yes, ABA-accredited trash pits on solid financial ground typically offer buyout deals to every single member of their faculty, right?!?! When you read such statements from school officials, you can see why no one trusts these thoroughly dishonest bastards.

http://lawschooltruthcenter.blogspot.com/2014/08/suffolk-latest-victim-of-applicant.html

Other Coverage: On August 31, 2014, the Law School Truth Center featured a brilliant article labeled “Suffolk Latest Victim of Applicant Selfishness.” Focus on the conclusion below:

“See what you little mutinous charlatans have done? You've made Suffolk go out and bring in a 68-year old to clean up things and you've made him lose faith in law school enrollment.

For years, Suffolk could bank on a nice crop of incoming 0Ls to plop 35, 40, 45, 50k into the bank. Now, because the lemmings have completely abnegated their role in the circle of life, Suffolk is offering buyouts to people who have jobs waiting at Ropes & Gray and freezing salaries.
 
Karma's a bitch, Boston-area lemmings. When you've had a long and prosperous career and you decide to kick back, take it easy, and saddle the next generation with beautiful amounts of non-dischargable debt to fund your lifestyle choices (which may or may not be described as "drug dependent with women of large endowments"), don't expect any cooperation from the applicant pool.” [Emphasis mine]

It’s great to see that scambloggers and other critics of “legal education” have helped prevent untold numbers of young people from ruining their lives. We have simply provided potential law students with better information. In contrast to the law schools, we are not paid to rip off applicants and matriculants.

http://www.boston.com/news/education/higher/articles/2008/11/17/suffolks_sargent_tops_pay_scale_for_college_presidents/

Prior Administrative Gluttony: According to this Boston Globe piece from November 17, 2008, Suffolk paid its “president” $2.8 million in total compensation – for 2006-2007!  Peter Schworm’s article was headlined “Suffolk's Sargent tops pay scale for college presidents.” The sick, vile pig named David Sargent was also a “law professor” at the festering toilet, at the time.

http://www.guidestar.org/FinDocuments/2012/042/133/2012-042133255-0978db01-9.pdf

The University’s Finances: In order to see how well this “non-profit, institution of higher learning” is doing, we head to the 2012 Form 990 for Employer ID No. 04-2133255. On lines 20-22 of page one of this PDF, you will see the financial data for the “university.” Total end of year assets reached $624,270,970. This amount was offset by $395,925,017 in total end of year liabilities, which led to total net assets of $228,345,953 – as of June 30, 2012. This figure is nearly $12 million more than for the year prior. However, it seems that the law school is no longer bringing in serious cash to the larger universiTTTy.

Conclusion: Avoid this stench pit as you would an HIV-infected prostitute. You will not be served well by incurring an additional $140K in NON-DISCHARGEABLE debt - for a TTT law degree. Based on the Law Student Indebtedness rankings from US “News” & World Report, the average victim from the Suffolk JD Class of 2013 took on $123,000 in student loans – and this figure does not take accrued interest into account. Nor does it include debt from undergrad.

By the way, USN&WR also rates $uffolk Univer$iTTTTy Law Sewer as a FOURTH TIER PIECE OF TRASH. Do you still want to play roulette with your future, Dumbass?!?! If you attend this garbage heap, then keep the following in mind: (a) the Northeast U.S. is FLOODED with lawyers; (b) you will need to land a Biglaw position, in order to justify the immense costs of admission; and (c) you essentially have no shot in hell, when competing against graduates from Harvard, Boston University, Boston College, Yale, NYU, Columbia and Cornell – for federal clerkships and Biglaw posts.

54 comments:

  1. Nando, you really should have found some pictures of biological pigs. You know, big fat pigs with big ugly snouts. Nothing else could really convey the extent to which that cash is being utterly wasted.

    ReplyDelete
  2. Performance reviews are bad because they "undermine" academic freedom? These ivory tower bums are finally getting a taste of the real world. If the hustlers don't like it they can jump to that partner job at a V10 firm they always brag about.

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    1. Exactly. It's tough to have to live in the "real world" with all the other "little people," but it looks like some LawProfs are going to have to grow up fast.

      Delete
    2. You hid it on the head, DNT. I could tell story after story about immature law professors. They've been sheltered from decisions and consequences their entire lives. Some are in their fifties and still behaving like school children.

      Delete
  3. I saw you are not feeling well in the other thread. Hope you get better Nando. You did a lot, but to me, your biggest contribution was shifting focus to administrator salaries. Those guidestar forms are a real eye-opener. We knew that career service offices lied with their glossy brochures but these forms showed why. It's tough to justify a deep six-figure salary and eight hour work week when your students are $200,000 in debt and working 2nd shift at Wendys. The admins are sweating and rightfully so. A bank or other business would get lit up if they published misleading statistics like law schools do. The ABA will not put any pressure on schools either, but information from this and other blogs give students enough data to make an informed decision.

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  4. Academic freedom is bullshit. In the real world, employees have performance reviews every so often. And their work is constantly being reviewed by others (to check productivity and quality).

    But academics have always acted like they are superior to everyone else. Listen dipshits. You only ever had those protections because of the outpouring of federal money into your schools.

    Now that the feds are tightening their belts (finally) and fewer students are applying (because the job market is shit) schools are being forced to shed staff. Nando, you and the others did a great of getting the word out about the law school scam. You deserve a Peabody award or something for your work.

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  5. Great post, Nando. These analyses are exactly what are needed. Your direct approach is also what is needed to cut through the clutter and obfuscation and reach the naive.

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  6. The school is tier 4 and they were paying their head guy $2.8 mil? That's disgusting. Worse than any toilet picture you ever posted here.

    Just goes to show the feds don't give a shit what the schools do with their money. And you know the job prospects coming out of this place are shit.

    ReplyDelete
    Replies
    1. That $2.8 million total compensation for the dean is truly disgusting. Not as disgusting, however, as the picture of Mr. Infinity, which Nando finally got up the courage to remove.

      Delete
  7. Nice post, Nando. I'm beginning to wonder at what point excessive compensation violates a non-profit's obligation to "... ensure that its earnings do not inure to the benefit of any private shareholder or individual."

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  8. Anyone here old enough to remember High School High? It was a terrible movie. But why hasn't someone come out with a movie called Law School University?

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  9. Suffolk is located in Massachusetts. Massachusetts is flooded with law grads. The only good thing about Suffolk Law School, is at least it is not New England Law, another Boston law school with low standards and a highly paid law dean.

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  10. "Tenure" and "academic freedom" are antiquarian institutions that should not survive in this century. For decades, "academic" hustlers have hidden behind these concepts to escape accountability and embrace a lackadaisical attitude towards teaching. When I went to law school, law professors seemed bothered by "office hours" (most didn't even bother to keep them) and resented students for asking them questions after class. They were too lazy to draft new exams which is why the students who did well knew to get the past exams since the professors were predictable slouches who recycled past exams.

    I remember abovethelaw covered this school a few months ago. It spent millions on an ad campaign which touted that Suffolk placed more traffic court judges on the bench than Harvard, Yale and Columbia combined. That's akin to claiming that your law school produces more solo practitioners than any other law school in the nation.

    By the way, wasn't Dick Sargent the actor who replaced Dick York as Darrin Stephens on that show "Bewitched?"

    ReplyDelete
  11. This is funny - Painter is now on JD Junkyard claiming that he knows the name of his little archenemy ... but that he isn't going to reveal it because he'd hate to harm the guy's reputation. A likely story!

    Apparently Painter is in complete denial of reality, and now claims that he is working in a "factory."

    Hard to tell which of these claims is a bigger crock of shit.

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    Replies
    1. Hopefully, it works for him. And I don't think he's in denial of the reality that his life is totally screwed.

      But if he's to be taken for his word, then that means he's not posting here anymore. Thus, we can put his drama behind us and focus our efforts on shining more light on the law school scam.

      Delete
    2. ^ Play that banjo.

      Delete
    3. @4:43 I don't play the banjo, live with the folks, or default on my debts. But thanks for the false accusation.

      Delete
    4. @8:31,

      Don't remember making an "accusation" - I simply pointed out that Painter obviously is still commenting on TTR - like when he made that brain-dead "banjo" comment that I was quoting from the prior post.

      Defensive, much?

      Delete
    5. Why do unemployed law school grads get super big boners just from talking shit about Painter?

      Delete
    6. @11:36,

      WE DON'T. We just want the little pantload to go the fuck away and stop vandalizing scamblogs with his 75-I.Q. stupid comments and dramatic bullshit. He SAYS he isn't posting here - if not, he must have an insanely talented and persistent impersonator.

      Play that banjo.

      Delete
    7. I've always loved how I was one of the few commenters here with the testicular fortitude to have a consistent handle and avatar.

      Fuck your banjo.

      Delete
    8. Um, OKAY, Strelnikov! You and Painter are the two courageous lions of unemployment. Your back must be mighty sore from all of that mastur-patting you are doing.

      Delete
    9. @Strelnikov September 9, 2014 at 12:33 AM
      "Fuck your banjo."

      You shouldn't do that with your banjo. I think that it would definitely affect the sound.

      Delete
  12. http://taxprof.typepad.com/taxprof_blog/2014/08/suffolk-law-school.html

    Now check out this insightful comment from “Unemployed Northeastern” – on August 30, 2014 at 8:02:41 am:

    “Cross-posting from Inside Higher Education:

    "Not really a surprise. Suffolk came very late to the GW-ization party (i.e. charge. Ivy prices for an average regional college experience, pay the president $2 million per year) and was caught flatfooted. The university has long been subsidized by its law school, one of the largest and least-selective institutions in the country. Now that word has gotten out about the job outcomes for law school graduates, enrollment plunged, people balked at the tuition, and Suffolk ended up offering buyouts to ALL of the tenured law faculty. IIRC, Suffolk has also been on a building tear of late in downtown Boston, for which they almost certainly floated enormous bond obligations. I rather suspect Suffolk is in a fairly grave financial position at the moment; time will tell.

    In fact, a quick search reveals that as of last September, Fitch rated Suffolk's bonds at a dismal BBB, just above "non-investment grade" ratings in the Fitch scale. The outlook reading is fairly wincing:

    http://www.businesswire.com/news/home/20130904006605/en/Fitch-Affirms-Suffolk-University-MA-Bonds-BBB#.U_9qE8t0wdU

    Annual debt servicing is 12.2% of the operating budget and student-generated revenues (read: student loans & tuition payments) provide ALMOST 95% of the operating revenues, which obviously makes a downturn in enrollment devastating." [Emphasis mine]

    Yes, this fourth tier univer$iTTTTy appears to be in excellent financial shape, right?!?! Hell, if the pigs were holding a bake sale – to raise money for this toilet – they would claim to be on solid footing.

    http://economix.blogs.nytimes.com/2011/06/27/the-lawyer-surplus-state-by-state/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1

    As this article and accompanying chart point out, Massachusetts is home to the FIFTH MOST GLUTTED lawyer job market in the country. They are behind New York, California, New Jersey, and Illinois.

    http://lawschool.uslegal.com/law-school-accreditaion/massachusetts-accredited-law-schools/

    You will note that there are eight ABA-accredited schools located in Massachusetts. For $ome rea$on, the swine never figured out that this would lead to gross oversaturation of the state’s attorney job market. Then again, the cockroaches simply did not give a damn. They assumed that lemmings would continue to line up, even after the garbage “profession” underwent permanent change.

    ReplyDelete
  13. This comment has been removed by a blog administrator.

    ReplyDelete
    Replies
    1. How about just posting receipt of a $1000 payment to his student loan balance?

      Delete
    2. Hey, it's the racist "black booty" troll again, trying to discredit the law school reform movement. I'm surprised that nando lets him comment here.

      Delete
  14. $45,922 for tuition is an utterly ridiculous amount to pay for a fourth tier school. In comparison, Harvard charges $54,850. The catch is that a graduate from Harvard actually has a chance of getting a job that pays enough to make debt financing a legal education worth it.

    Maybe if a kid comes from a rich and connected family, the price to attend Suffolk would be worth it. However, taking out over $150K in student loans to finance a JD from this place is tantamount to assisted suicide.

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  15. All fourth tier law schools should be shut down. Those schools only exist to provide professors and deans cushy jobs. Why doesn't Congress act? All this talk the last few years of sequestration and budget cuts and no one does a fucking thing about the broken student loan system.

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    1. You are absolutely right. All we have to do is say that if you have less than 60% of your graduating class in full time, long term, bar pass required jobs 10 months after graduation, then you don't get any federal dollars.

      Delete
  16. Suffolk is an overpriced shithole.

    ReplyDelete
    Replies
    1. If tuition were suddenly reduced to zero, Suffolk would still be an overpriced shithole.

      Delete
  17. My Goals:
    1) Take over the ABA
    2) No more new law schools
    3) Close the worst bottom-tier "toilet" law schools.
    4) Make educational debt like any other unsecured debt in bankruptcy.

    Keep up the great work Nando!!

    ReplyDelete
    Replies
    1. And don't forget that we also need to; (5) Require a 15% minimum tuition reduction for all schools that get federal money, (6) Cap tuition increases to inflation minus 1% and (7) Cap the amount of administrator and professor pay.

      Delete
  18. http://jdunderground.com/all/thread.php?threadId=76486

    On August 31, 2014, someone using the JDU handle “spaghetti” started a thread labeled “Trouble at Suffolk Law.”

    http://jdunderground.com/all/thread.php?threadId=76486#post1054330

    Take a look at this brilliant comment, from contributor “eddiemunster” – from August 31, 2014 at 12:04 pm:

    “To date, six at-risk (often small, private, not great locations) law schools in the northeast region have done buyouts:

    Albany
    Buffalo
    New England
    Vermont
    UNH (Franklin Pierce)
    Suffolk

    That means the northeast market is already flooded with professors looking for new gigs. Can't imagine what this looks like on a national scale but it can't be good. First round are buyouts, then salary caps, then contract terminations, etc.

    Once they've reached the point where there are no more costs to cut and they still can't attract more students, schools will start to close.”

    I recognized long ago that there will not be a legislative solution to this problem – as members of Congre$$ don’t have the balls to scale back the federal student loan system. They don’t want to be seen as “anti-higher education” or “limiting opportunities.” The politicians in black dresses also will not allow justice.

    In the end, the only way to hurt these vile bitches and hags is to hit them in the pocketbook. Publishing true figures and exposing this sick indu$try is the best way to accomplish this goal. At some point, large numbers of potential applicants will figure out that they will be FINANCIALLY RUINED – by pursuing a garbage “legal education.”

    http://jdunderground.com/all/thread.php?threadId=76486#post1054514

    Now check out this excellent thread within this discussion:

    “chicagojoe (Aug 31, 2014 - 4:30 pm)

    If these things were real businesses, the legitimate investors would be pulling out and winding these things down left and right.

    therewillbeblood (Aug 31, 2014 - 5:07 pm)

    If these things were real businesses, a lot of deans would have been indicted for fraud.”

    ReplyDelete
  19. Ahhh... let's not forget that Massachusetts has as one its senators a former law skool professor---Senator Warren
    pulled in huge bucks as a "professor", including for teaching one class at Harvard. Also claimed she was a "Native American" to get one of her professor gigs.

    Now in Washington, after she's raked in her $$$$, she is supposedly on the side of reform........

    ReplyDelete
    Replies
    1. I'm sure she'll do well in her new position as a lobbyist for the law schools. She has no morals, no social skills, and a subnormal IQ.

      Delete
  20. 64 law schools. 1 per state + the national schools. Couple that with dischargeable student loans and problem solved.

    Suffolk should be closed, like yesterday.

    ReplyDelete
    Replies
    1. Hear hear!

      Kids, make it a tier 1 law school with minimal debt or pick another career.

      Delete
  21. https://www.youtube.com/watch?v=1f9IgOjZjn4

    ReplyDelete
    Replies
    1. ^ DEFINITELY not posted by Painter. After all, he swore he'd never post here again! (Just like he promised to pay back all that money at the time he borrowed it).

      PLAY. THAT. BANJO.

      Delete
  22. Now here's some clickbait gold from Above the Law...

    "The ABA Doesn't Care if Law Students are Poor"

    http://abovethelaw.com/2014/09/the-aba-doesnt-care-if-law-students-are-poor/

    News Flash: The ABA doesn't give a fuck if lawyers are drowning in $200K in student loan debt and can't find a job either.

    ReplyDelete
    Replies
    1. Now that's gold.

      Screw the ABA. And it goes right on down the chain. The Scam Deans, law profs, after-market cottage industries, and the States who got you once you're licensed and keep dinging you with mandatory Bar dues, CLE requirements, etc.

      Nope. They don't care. All they ever cared about was getting the money and leaving you stuck with the non-dischargeable bill.

      Delete
  23. This comment has been removed by a blog administrator.

    ReplyDelete
  24. https://www.youtube.com/watch?v=zZwmoVYEwV4

    ReplyDelete
    Replies
    1. This comment has been removed by a blog administrator.

      Delete
    2. This comment has been removed by a blog administrator.

      Delete
    3. Painter is complaining about the racist comments of one commenter while making homophobic bigoted comments. The parallels being racism and homophobia completely escape him.

      Delete
  25. Nando, why do you allow these whackos to post here? Anybody reading their posts would conclude they were losers who deserved to be unemployed.

    ReplyDelete
    Replies
    1. Johnny's Racist Roach BootySeptember 10, 2014 at 4:49 PM

      The drama is getting a little out of hand.

      Delete
    2. Unemployed losers feed off of each other. No one hates an unemployed loser like another unemployed loser.

      Delete
  26. More $8/hour law jerbs down in South Carolina.

    http://abovethelaw.com/2014/09/more-extreme-low-paying-lawyer-jobs/2/

    Oh the places you'll go....

    ReplyDelete
  27. http://abovethelaw.com/2014/09/suffolk-law-offers-more-buyouts-than-harvard-yale-and-columbia-combined/

    On September 3, 2014, Elie Mystal published an entry entitled “Suffolk Law Offers More Buyouts Than Harvard, Yale, And Columbia Combined.” Read the following excerpt:

    “Law school applications are down because law school isn’t a good value, not because law school hasn’t been correctly marketed to prospective students.

    It looks like Suffolk Law is going to have to face the music. The university has already replaced its president. Now the law school is offering buyouts to tenured faculty and professors with renewable contracts…

    What’s funny is how Suffolk is still adopting the “nothing to see here” media approach to its declining fortunes.

    Check out this excerpt from the Boston Globe:

    The unexpected change in leadership comes as Suffolk seeks to stabilize its finances and attract students in the college-dense region. Facing a decline in enrollment and revenue, the university announced in June it would freeze employee salaries for the next fiscal year. It also offered buyouts to all law school faculty members with tenure or renewable long-term contracts….

    University officials, however, defended the school’s financial standing Wednesday, noting that the endowment has grown by 52 percent since 2011, and its operating surplus has increased.

    Look, universities on sound financial footing don’t offer to buy out all of their tenured law professors. That’s not how it works.”

    It’s great to see the academic cockroaches scramble for asses in seats. It is ALL about the money, people. Then again, everybody with an IQ above room temperature figured that out a while ago.

    Mystal is right on target. Univer$itie$, including even fourth tier cesspools, do not provide buyout offers to every one of their tenured pigs – when the school is on solid financial ground. And you wonder why people view these “professors” and deans as less trustworthy than the typical used car salesman.

    ReplyDelete

 
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