MSU-$500 million payout to victims

Discussion in 'Sound Off (MichiganForums.com)' started by Pinefarm2015, May 16, 2018 at 4:24 PM.

  1. MossyHorns

    MossyHorns

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    I'm curious how MSU will come up with the $. My tax dollars better not be used to bail out MSU's stupidity.
     
    multibeard and Scout 2 like this.

  2. MEL

    MEL

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    Us taxpayers ALWAYS bail out public institutions.
     
  3. bucko12pt

    bucko12pt

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    MSU is owned by the citizens of the State of Michigan, so three guesses who will get stuck paying the bill.
     
    Last edited: May 16, 2018 at 10:03 PM
    multibeard likes this.
  4. Chromedoggy

    Chromedoggy Premium Member

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    Yep, Taxpayers are on the hook. Shut it down, send all of the direct and indirect involved parties to jail, strip their perks and pensions. If it were a corporation that had to support it's self, it would be done, and there would be an uproar to boycott.
     
  5. zig

    zig

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    They'll probably use a combination of things. I'm sure they have some unrestricted net assets, although probably not enough to cover the whole bill. A tuition hike is probably definitely on the table, although there are restrictions on that too. Plus, I would think they will have to be very careful with a hike given the already bad publicity. The last thing they need is for enrollment to plummet. Maybe insurance? I think Penn State was able to get some $ from their carriers after a legal battle. All in all, a mess. Sad.
     
  6. multibeard

    multibeard Premium Member

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    YUP the taxpayers will get stuck paying off MSU's covering up this fiasco for way to long.
     
  7. retired dundo

    retired dundo

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    I wonder what percent the lawyers will get
     
  8. motdean

    motdean

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    Seriously, I was hopeful that lasting change would come out of this.

    Those poor girls deserved better....
     
  9. pescadero

    pescadero

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    MSU has insurance (that apparently will only cover about $40 million), supposedly has ~$1 billion in cash on hand, and has an ~$3 billion endowment.

    I suspect they will tap those funds, along with raising tuition and selling off some assets to cover it.
     
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  10. MossyHorns

    MossyHorns

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    This won't be the last lawsuit against MSU. I'm sure MSU will have to pay out some big money to William Strampel's (Nassar's boss) victims.
     
  11. ratherboutside

    ratherboutside

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    If you want change, replace the entire board of trustees. They dont get it. They won't ever get it and the school will hire more of the same people after this is over.

    People calling for replacing Engler dont understand that with the current board, the next interim president will be the same as the last.

    Sent from my SM-G955U using Michigan Sportsman mobile app
     
    Sasquatch Lives likes this.
  12. motdean

    motdean

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    While I don't know the details enough to confirm, it sure feels that way.
     
  13. Far Beyond Driven

    Far Beyond Driven

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    supposedly has ~$1 billion in cash on hand, and has an ~$3 billion endowment.

    And can pay a football coach a couple million a year, yet I drive 20 year old cars so I can afford to fund my daughter's college accounts...
     
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  14. DecoySlayer

    DecoySlayer

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    It is a real racket for sure.
     
    kingfisher 11 likes this.