Tuesday, April 28, 2009
Athletics Director Lew Perkins is set to receive $750,000 more in his retention plan than what was originally agreed upon. After Perkins rejected offers from another university, Chancellor Robert Hemenway agreed to add the bonus, raising Perkins’ original $1.3 million paycheck to $2.05 million if he stays in office until June 30, 2009. Come July 1, Perkins could simply walk away with $750,000 more in his pocket. Chancellor Hemenway should not sign off on bonuses such as this so close to his retirement. At the bare minimum, any bonus Perkins receives should require Perkins to remain for a more substantial amount of time at the University.
Perkins’ bonus stands in stark contrast to the painful budget cuts the University is facing this year. University staff members have lost their jobs, and significant programs for students and University employees have been cut, such as student learning communities and faculty discounts on tickets to sporting events. So far, the University has left 110 faculty positions vacant that would otherwise have been filled. Students will surely suffer because of these deep cuts in academic resources. It is unseemly, to say the least, that our University will be rewarded with three-quarters of a million dollars for sticking around for another nine weeks.
Kelsey Clark, Lenexa junior, said she thought it seemed weird that the University would give away that much money during a time like this.
“There’s always news of something new being cut or losing money because of the economy,” Clark said. “It’s just strange he would be making that much more money when they make it seem like KU doesn’t have any money to spare.”
Fran Scheurerman, Leawood junior, said that if a bonus was
“what it takes to keep a guy like that around then I’m all for it.”
But Scheurerman said she opposed the $750,000 reward for retention over such a short period of time.
Perkins is among the highest-paid athletic directors in the nation, and the original $1.3 million bonus promised in his contract should serve as more than enough incentive for him to remain at the University until the end of June. The costs of the bonus more than outweigh the marginal benefit of increasing the incentive by such a conspicuous sum of money. The University has already received criticism for the decision, and Hemenway, by agreeing to the bonus right before he leaves office, is in effect tying the hands of the incoming administration.
The unusually poor timing of the $750,000 bonus raises questions about Hemenway’s judgment in the waning days of his administration. Any retention bonus for Perkins should wait until the new chancellor takes office, and it should certainly entail a commitment by Perkins to stay at the University for a period longer than nine weeks. It should be up to next year’s University administration to weigh the costs and benefits of retaining the athletics director.
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Comments
Editorial: Perkins’ bonus comes with terrible timing
University and Athletic budgets are separate. How many times does this have to be said?
Editorial: Perkins’ bonus comes with terrible timing
I could live for 25 years if I had 750,000. I could probably live till I die with 2 mil. Ridiculous is what this is.
Editorial: Perkins’ bonus comes with terrible timing
"University and Athletic budgets are separate." Except for the involuntary amount included in student fees. But that's non-revenue and not related directly to this. I just wanted to say what's said every time, like you. Because you're mine hero.
Editorial: Perkins’ bonus comes with terrible timing
Well he deserved it, I mean, who doesn't deserve to have their million dollar salary doubled? These times are tough.
Editorial: Perkins’ bonus comes with terrible timing
This article isn't based on anything resembling the truth.
The Chancellor approved the 2009 bonus a year ago (before he announced his retirement), but you make it sound as if it happened last week. No one is making 750,000 for sticking around for nine weeks. There happen to be nine weeks left on a long term deal, and that's bound to happen eventually. The only new bonus Hemenway agreed to recently comes due in 2011 and again in 2013. A very reasonable time frame for a retention bonus. Even though Hemenway is retiring, I don't believe he should stop acting as Chancellor. This bonus is well thought out, and provides a level of security to someone who will be greatly affected by the changing of the guard at the Chancellor's office.
Lew has proven his worth as an AD. He has kept around top flight coaches, built new facilities, increased the profile of both our revenue and non revenue sports and done it all with very very little student money. When you're the best at what you do, you deserve to get compensated.
Editorial: Perkins’ bonus comes with terrible timing
"When you're the best at what you do, you deserve to get compensated."
Show me the best janitor in the world, and I'll show you someone making less than Lew Perkins. If you believe that "the best" get "compensated" your might want to check that you're not defining "the best" by who's getting "compensated".
Editorial: Perkins’ bonus comes with terrible timing
You didn't respond to any of my actual critique of the column, just singled out the last line and disagreed with it for no apparent reason.
I went ahead and checked, and it turns out, I'm not using that definition at all. To me, Lew Perkins is one of the best AD's in the country because of what he's done with our athletics program. From fundraising to academic standings, a national championship in basketball and an Orange Bowl Championship in football. Massive facilities upgrades either completed, underway or in the planning stages across the board for both revenue and non revenue sports. What more could you want an AD to do? Work for free, apparently. If you'd like to argue against capitalism feel free. I won't argue with you there. But in our society someone who gets results like Lew, who brings in money and exposure to the program he's here to lead, gets paid. He gets paid big. So do athletic directors elsewhere.
The only AD to have accomplished on Lew's level is Florida's Jeremy Foley. Florida, too, won a national championship in basketball and a BCS Bowl in the same year. His base pay (including athletics money, not entirely state money) before bonuses, is higher than Perkins'. ($965,000 to $900,000). Lew did it in five years. Foley has been at Florida since 1992. Paying Lew a similar amount to keep him around is not unreasonable, and is in the best interests of KU Athletics Inc.
Editorial: Perkins’ bonus comes with terrible timing
Your assertion was stupid. He's not being overpaid because he's good at something, he's being overpaid because he's attached to the sports program. Make sure you check out http://www.merriam-webster.com/dictionary/reasonable
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