Hance newsletter.....
good stuff on the surface of things.....
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I’m sure there’s some good news there, but it smacks a little of some number-juggling to put a rosy perspective on things. The growth figures are for several years, some periods of comparison seem cherry-picked, etc.
- 18.5% student growth sounds good till you see it’s about 3.7% per year.
- $500 mil over 5 years is pretty good for the building program, but it doesn’t say how much is for Tech and how much is for other parts of the system. He calls Vision & Tradition a capital campaign, but when you follow the link it talks about new scholarship gifts. non sequitor
- Improving our endowment ranking is good but it doesn’t give any numbers or the goal required to reach Tier I. #85 seems to leave some distance to go.
- The increase in student loans can likely be credited to increased government guarantees. Not sure that’s a good thing in the long run for the school or the students.
- Offering more degrees is good for Tier I, but much has been said about sacrifices to existing programs in exchange for more numbers
- The growth in research (about 37% each year over the last 5 yrs) is good progress. If we pass the audit next year, we might qualify for some of that money from the state legislature that will help us toward Tier I (assuming the state actually has the money to give us when the time comes. Remember the state’s deficit this past year and the fact that education spending was cut to make things balance.).
Better than a poke in the eye with a sharp stick, but spin mixed in as well, IMHO.
"I’ve established a reputation for integrity. I have maintained those high standards" - Craig James
There's always spin in these types of reports
That’s not too big of a deal in my view. The reader’s job, should he or she wish to do so, is to analyze the statements as TechFirst has done.
For the most part, I think all of this looks pretty positive.
The finance guy in me is more curious about things like the school’s debt and solvency; and the composition of the $500 million (i.e. how much is real cash vs life insurance policies that are to be redeemed, in some cases, many many years down the road. Of course, the more real cash – the better!). I am also curious how the $500 million is calculated. As most of you finance people around here know, $500 million today is worth more than $500 million 20 years from now.
Having said that , I doubt Tech is alone in masking the distinction between cash and life insurance policies. Montford was the first chancellor/president at Tech who implemented the life-insurance-as-donation concept.
I am less enamored with Tier 1 talk than others here (although I respect your views on it). Personally, I don’t understand ill-defined nebulous goals, but as long as the university keeps doing good things, I don’t lose too much sleep over it either.
"This time it's different."
PS
The endowment improvement IS real cash. Our improvement in this area is a real accomplishment. The endowment kicks off an annual dividend that is used to fund scholarships and other activities. The bigger the endowment the more cash we have to fund those sorts of things.
The lesson here is that it’s better to be well endowed than less endowed. But then of course, you probably knew that already! :-)
"This time it's different."
by LondonRaider on Dec 23, 2011 6:21 PM CST up reply actions
londonraider,
i love you man. (no homo). but i do. also just got home from the bar/bowling alley. but i do, man. at any rate, great analysis. 3rd principle of my intro to finance class: cash flows are the source of value. 4 principles total. can’t wait to finish my degree! indeed, it is the reader’s job to sift through all the spin. thanks for helping us. Merry Christmas!
by Jameson Vernon on Dec 24, 2011 2:00 AM CST up reply actions
I'm reading it and it sounds good but....
all I see is “Bla bla bla, I’m a terrible person and a horrible administrator. Bla bla bla, UNT and Uof H beat us because they had better admininistrations. Bla bla bla, but here look, I’m trying.”
It was all I could do
to try and forget who wrote it and see if there was any actual meat in the letter. It left out the part about doing long-term damage to the university in other areas. He’s ignoring the elephant in the room and hopes that everyone else will, too.
"I’ve established a reputation for integrity. I have maintained those high standards" - Craig James
I applaud your effort.
TechFirst for Chancellor.
by RdrPwr on Dec 24, 2011 8:10 AM CST up reply actions 1 recs
the elephant,
will stomp on him eventually
by Jameson Vernon on Dec 24, 2011 2:09 PM CST up reply actions
Well said!
But I thinks he rides off into the sunset with a tarnished legacy instead. . .
"This time it's different."
by LondonRaider on Dec 24, 2011 4:08 PM CST up reply actions
Time to correct misinformation
RdrPwr, I know that you mean well, but I have now seen you post 3 times that “UNT and U of H beat us,” and that is just not true. I understand your interpretation of U of H, they did qualify for Research funds before Tech, but UNT is not even close to consideration. I would assume you have UNT confused with UT-Dallas, which is the number 3 school in this equation thanks largely to legislative pressure from Dallas politicos, but though they are an up-and-comer for undergraduate studies, they are still noticeably behind Tech and UH in graduate research [which is where it counts].
As it stands now Tech and UH are the top emerging research schools with UTD third [and realistically these are the only schools with any chance at Tier One within the next 10 years] What people need to know is that the Tier One criteria set by the Legislature are multi-leveled, with the Research funding a part. UH qualified for the Research funding last year (based on their strong ties to Houston’s energy industry) but Tech has equalled them this year. But, Tech was the first to qualify for TRIP funding, being awarded twice what UH received. And Tech is in better financial shape to continue, as the Biennial State Appropriations show UH was cut by 13%, Tech by 5.2%.
But an important point, as stated by Bailey in his 2011 Presidential Report, is that “Becoming NRUF eligible…is not equivalent to achieving Tier 1 status. Rather it is an important step to Tier 1 status.” Everyone needs to become familiar with the State-legislated Tier One criteria [go to Administration—President—Tier One—2011 Presidential Report, for the criteria and Tech’s most recent progress] 2 crucial elements involve “High quality of freshman class,” and “High quality of grad programs—graduation rate.” Tech has met these standards, UH has not—and won’t for some time. [UTD has met the first, though not the second] In short, Tech is on track to become Texas’s 4th major research institution when all is said and done. Only 6 behind California!
It is ridiculous that our state turns everything (including education) into a contest—but that’s what you get from a Legislature that doesn’t give a damn about public education. EVERYONE—GO READ THE PRESIDENT’S 2011 REPORT.
Thanks, Dr-Cane
Facts always make a discussion more interesting.
Yea seems like some take what UH, UNT and UTD say at face value and are overly critical of information from our administration. “Tier 1” is really a bastardized term (sort of like “Organic”) its being spun quite hard, and given there is more media in Dallas and Houston it only looks like we are behind.
College Football: "Our Traditions are now for Sale"
.....................................................................................
"Well the ball just didnt bounce our way today" Tommy Tubervile, after decades of coaching experience, the best he can do ....................................................................................................................................
Blaze a trail, spend some time in West Texas, feel the sand sting your skin and burn your eyes, let the winter dry your hands, learn that its there only because our ancestors didn’t want to be around other people … that’s West Texas
Oh well ok then.
Guess that’s what I get for believing things I read on DTN without my research. My apologies. Still think warm dog shit is better than Hance though.
by RdrPwr on Dec 24, 2011 12:53 PM CST up reply actions 1 recs
I'm with ya............
keeping life simple and 2 the point.
"All I wanted was my icream cone and my little cream soda, oh well, oh well, oh well" White Stripes
what is,
TRIP funding? and what does NRUF stand for? Sorry i know i posted the newsletter but i’m still learning all this. and i would posit that competiveness is a good thing, and would do well for the public education system, which definitely needs drastic improvement. at least we are not Georgia, or haven’t been revealed to be like that yet. i hope that’s not the case anyway
by Jameson Vernon on Dec 24, 2011 2:15 PM CST up reply actions
The Texas Legislature in the spirit of competition established a series of requirements for universities to meet in order to gain what they have designated as “TierOne Status.” (Meaning the State of Texas and its Legislature will then elevate these “winning” schools to the same prestige level and funding level as current “flagships” UT and TAMU—Rice is also “TierOne” but as a private univ., State gives it no funding. Note: This whole game is in-house Texas and has little bearing on current national academic reputation—it is basically all about increased State funding and influence which both UT/TAMU BORs and UT/TAMU-educated legislators have been trying to block for years (more $$ for themselves).
A first/major step in this legislation was the creation of the NRUF—the National Research University Fund [“National” as in State of Texas]—a political obstacle course each university must run in order to get big money.
A sub-program created out of the NRUF was the TRIP—Texas Research Incentive Program—where $50million was made available in matching funds. Tech was able to get $24mill from the TRIP (to UH’s $12mill).
As long as we’re on terms, the third term you will hear is Tech’s ultimate goal, admission into the AAU—this is NOT the Amateur Athletic Union as many think, but the ASSOCIATION OF AMERICAN UNIVERSITIES, a prestigious fraternity of 59 schools, founded in 1900, whose newest member is TAMU (admitted in 2001). AAU membership is not a condition of the Texas “TierOne” designation, and Tech’s chances of getting in in the next five years are slim. Anyway—hope this helps and still, read the 2011 Report.
Realistically...
Saying Tech’s chances of AAU membership in the next five years is being extremely optimistic. Tech has almost no chance of gaining membership in five years. If we keep on the path we’re currently on, we might be able to get into that conversation in 8-10 years.
by RedRaiderForLife95 on Dec 31, 2011 11:27 AM CST up reply actions
Thanks for the information, Doc. This motivates me and gives me some encouragement.
I will continue to give financial and moral support.
Oh, and despite a joke of a football program...
…Tech now is the laughingstock of Universities and a posterboy for dishonesty, back-room corrupt dealings, and probably will forever be the go to case study for hiding behind sovereign immunity. Strive for honor… Ever more. Unless you are Kent Hance and the Admin at Texas Tech.
Maybe someday soon we will be TierOne liars and thieves?
Antiswarms opinion…
Be looking for Antiswarm's first fiction novel The Last Pilgrims, due out in early 2012.
by antiswarm on Dec 24, 2011 9:39 PM CST reply actions 1 recs
man, u are negative
comments like this are just ignorant
That's basically name-calling
You can disagree with that.
"I’ve established a reputation for integrity. I have maintained those high standards" - Craig James
I think you will find that reality is much larger than the game that gets played on Saturdays
College Football: "Our Traditions are now for Sale"
.....................................................................................
"Well the ball just didnt bounce our way today" Tommy Tubervile, after decades of coaching experience, the best he can do ....................................................................................................................................
Blaze a trail, spend some time in West Texas, feel the sand sting your skin and burn your eyes, let the winter dry your hands, learn that its there only because our ancestors didn’t want to be around other people … that’s West Texas
what did he say that was ignorant?
Keep in mind that ignorance is not havind the facts.
"All I wanted was my icream cone and my little cream soda, oh well, oh well, oh well" White Stripes
Actually, it's not
Tech has a much better academic reputation today than it did ten years ago. Most employers and academics don’t measure a university by the status of its football program—if it did, Rice would be crap. As for “posterboy for dishonesty…”, I believe Ohio State, USC, Arizona State, and certainly Penn State would gladly change places with Tech. Here’s to a better 2012.
I'd bet AAU member institutions Ohio State, Penn State, and USC....
would never “gladly” change places with the historic or current Texas Tech. Ever. Under any circumstances.
Arizona State? Well…..maybe.
yes and no...
Forest, you misread the post. Anti labeled Tech a “posterboy for dishonesty” and corruption, obviously alluding to the Hance-Leach soap opera. “posterboy” implies THE program everyone nationally is looking at as the illustration of athletic problems. But the Hance-Leach drama is old news to all except many on this board and a few ESPN toadies. Currently—the “posterboy” for all things corrupt in college athletics is Penn State, having recently supplanted Ohio State. Would either school gladly trade their current athletic problems and national image for those of Tech? I think so. But, you raise the point that many here are missing, and that is when all is said and done these are still great academic institutions, in spite of their athletic press coverage. In spite of the Tech athletic problems, the university has made tremendous gains in the last five years—thanks to the dedication of a bunch of people—no university is a one-man show.
How about that 162 ranking we got from Newsweek or USA Today, whichever one it was?
Employers DO look at that when hiring. I’ve seen it first hand.
Great interviewers will get the job...
No matter where their degree is from. Most employers and HR coordinators LOVE hiring Tech Alums in this area. I know a lot of them would just as easily hIre us over an Aggie or Longhorn. It also depends where you live. I work in uptown Dallas and live in Plano, and cannot begin to tell you how many Double T’s I see on the back of very high end vehicles zooming up the tollway.
All I know is the Tech alumni are doing well in this area. Must be doing something right.
by TTU RHIM '09 on Dec 26, 2011 11:56 AM CST up reply actions 2 recs
Yeah, this has been my experience
Nailing the interview gets you the job. Having a degree from a reputable university seems to be all that is needed in most fields.
Getting a foot in the door for an interview happens from knowing someone anyway, don’t think it has much to do with what school you went to.
You could be a total braniac from Harvard and have zero social skills and not get the job unless the job is to be a rocket scientist.
Really unless you have parental pressure, you are a determined over achiever or really certain of what you want to be when you grow up (seeking a particular program), the majority of us go to where we can or go to what feels right for us as people.
The rest is window dressing, Ive found the growth as a person based on the college environment (life, work, school, friends, peers, mentors) much more than the 99% of the academics I have forgotten or never used. And that live experience is what “wins” interviews.
College Football: "Our Traditions are now for Sale"
.....................................................................................
"Well the ball just didnt bounce our way today" Tommy Tubervile, after decades of coaching experience, the best he can do ....................................................................................................................................
Blaze a trail, spend some time in West Texas, feel the sand sting your skin and burn your eyes, let the winter dry your hands, learn that its there only because our ancestors didn’t want to be around other people … that’s West Texas
oh my god,
i love your handle. excellent. those weather guys in lubbock are obsessed with that term. as am i, apparently
by Jameson Vernon on Dec 28, 2011 2:59 AM CST up reply actions
Thanks, man
I don’t know who came up with that word but it is one of the best I’ve heard – how many words have “boob” in it that are okay to say?
well sir,
it is an arabic word. go figure…i bet few arabic people realize the fun we english speakers have with that word. i always picture the dust storm from that movie hidalgo, or the movie aladdin, when i think of how to describe a haboob
by Jameson Vernon on Dec 29, 2011 9:27 PM CST up reply actions
Oh definitely, I didn't say I agree with those rankings.
I’ve just seen those rankings work against Tech.
Thanks to Jameson Vernon for the post and Dr-Cane for the comments
I had received the progress letter directly to my email in-box, presumably due to past contributions to the Loyalty Fund, the Fund for Tier 1, etc. I hope that other DTN contributors did as well.
As to corporate recruiting and the value of a degree from Texas Tech, I would like to again direct attention to the Sept. 13, 2010 issue of the Wall Street Journal (yes, I kept the copy).
In it, the SWJ published their national survey of corporate recruiters for bachelor’s degree graduates and listed the recruiter’s Top 25 schools. Texas Tech was ranked 18th, ahead of such schools as NC State, U. of Virginia, Rutgers, Notre Dame, MIT, USC, Wash. State, and NC at Chappel Hill. Yes, I was susprised and took great pride in this. The article noted that the recruiters looked not only for graduates that were well-educated and well-trained but also graduates that were well-rounded and who could succeed.
I am a member of the RRC and live and die with my Red Raiders on the gridiron. But, I also take great pride in the continued development of the university as a whole. I hope that others do as well. On a personal note, I would only add that I was recruited directly off the Tech campus by one of the then “Big 8” national accounting firms. No one ever questioned the value of my Accounting degree from Texas Tech.
hells yah brother,
i remember that article! i was going to post something about it until i saw your comment. good stuff
by Jameson Vernon on Dec 28, 2011 3:03 AM CST up reply actions
A few thoughts....late to the party
1) Texas Tech to me are the good people I have met since 1983. Regardless of my thoughts on KH, I will take red raider alums over any group I’ve seen. We are not entitled and understand the value of friendship (and cold beer).
2) if you are in a position to hire or help…look for a red raider
3)Montford had much to do with tech improving since I was in school…and some very good lifers like dean dean.
4)Bailey might be pretty good..and not a bad guy
5)we are all much more in tune with bor, chancellor and many other facets that I wouldn’t give two shits about prior to mikes firing. This is a good thing to be critical…but let’s not ruin the brand because of hance or disdain for him.
This is a 3 ring circus up in here......
by oldschoolraider on Dec 30, 2011 1:02 PM CST reply actions
Good point, oldschool
Remember, someday Hance will be GONE! Hopefully, it will be sooner than we might think.
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