3/7/2016: And another raise. Mediation starts April 27, meanwhile the legal bills pile up. All paid from the academic budget, of course.
2/07/2016: What’s it about this time? Duck bowl games.
Back in 2012 Duck Executive Senior Associate Athletic Director for Finance and Administration Eric Roedl got a call from some insurance salesman, and ended up buying a policy that would pay the Duck football coaches in the event their unpaid student-athletes won enough bowl games to trigger the lucrative bonus clauses in the coaches’ contracts. These bonuses topped out at about $1M. UO paid Lloyd’s of London $489,940 for the policy.
Unfortunately, it seems that Roedl didn’t read the fine print on the contract. Hey, it’s not like he was spending his own money, as Milton Friedman would have put it. It turns out Lloyd’s was only obligated to pay the coaches if the Ducks won the BCS. If they topped out at some intermediate lesser bowl, then the bonuses were UO’s problem. Which, of course, is what happened, meaning UO was out $687,965.74 in bonuses, *and* the $489,940 insurance premium. Clever salesman.
So UO promptly sued Roedl for spending UO money without exercising due diligence.
Just kidding. Roedl works for the Ducks. How bad would that look? Instead UO sued the insurance salesman. And, from the looks of the lengthy docket here, I’m guessing UO’s HLGR lawyers are doing pretty well off this.
Then UO gave Roedl a raise. Then another raise. He’s now at $225K – up $55K from his starting salary three years before, and up $81K from what Jamie Moffitt was getting in 2010 to do the same job:
So it’s win, win, win for Roedl, Lloyds, and HLGR. Not so good for UO, of course. Originally HLGR wanted to take this case to a jury, but that hasn’t been working out too well for them lately, and so now the plan is to try for mediation:
MINUTES of Proceedings: Status Conference. Parties are to schedule mediation. All court deadlines are stayed pending the completion of mediation. Telephone Status Conference is set for 4/27/2016 at 09:00AM by telephone before Chief Judge Ann L. Aiken. Court will send call-in instructions prior to the call. C. Robert Steringer present as counsel for plaintiff. John E. Zehnder, Jr. present as counsel for defendants. James T. McDermott and Gabriel Weaver for Third Party Defendants. Court Reporter: Kristi Anderson. Chief Judge Ann L. Aiken presiding. (rh) (Entered: 12/15/2015)
They have been having a hard time figuring out how to spend all their money, so Jamie can pretend they’re broke. It’s a pretty good shtick, they’ve been making around $20 mil surpluses and just burning it as fast as they can on raises and ads. Good luck two percenters!
Yeah imagine if they don’t keep up with the budget, miss a round of frivolous raises, end up with a fat surplus, and then had to send some cash to these pesky academics. It would be a real shame….
What are you all complaining about? You should know by now that mediocrity and incompetence is celebrated, and apparently encouraged and rewarded at the U of O.
That’s only a 1% raise. He must be being punished.
*shouting* Every unit *whispers* except athletics *shouting again* is having to make cuts this year.