Reply to Great article on the direction UVA is heading......

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[quote=Anonymous][quote=Anonymous]They (and pretty much all universities) have no incentive to change.  Most of them are inefficient bureaucracies that have almost 2 employees to one student, pay really well above a certain level.  Why would they given up that comfortable existence to, what, "change the face of education" in VA?
[b]
The VA general assembly needs to step in to collectively manage money earned by all the universities and spend that money wisely to expand into areas that are underserved.[/quote][/b]

Lord, you are ignorant.  You have no idea of the history behind the school or the history of the endowment.  UVA was spun off by the VA Assembly in 2005 to manage itself..  It receives less than 6% from the State of Virginia for operations.  Through brilliant investment, it created its own endowment of $8B.  Now the general assembly wants it back because it's clear UVA is better at managing money than the Virginia General Assembly  Here's the history of the endowment from wikipedia:

Though UVA is the flagship university of Virginia, state funding has decreased for several consecutive decades.[45] Financial support from the state dropped by half from 12 percent of total revenue in 2001-02 to six percent in 2013-14.[45] The portion of academic revenue coming from the state fell by even more in the same period, from 22 percent to just nine percent.[45] This nominal support from the state, contributing just $154 million of UVA's $2.6 billion budget in 2012-13, has led President Sullivan and others to contemplate the partial privatization of the University of Virginia.[5] UVA's Darden School and Law School are already self-sufficient.

Hunter R. Rawlings III, President of the prominent Association of American Universities research group of universities to which UVA is an elected member, came to Charlottesville to make a speech to university faculty which included a statement about the proposal: "there's no possibility, as far as I can see, that any state will ever relinquish its ownership and governance of its public universities, much less of its flagship research university".[5] He encouraged university leaders to stop talking about privatization and instead push their state lawmakers to increase funding for higher education and research as a public good.[5]

The University of Virginia is one of only two public universities in the United States that has a Triple-A credit rating from all three major credit rating agencies, along with the University of Texas at Austin.[/quote]

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