Hobart 2020

[oldbartman]

With the NCAA's granting of an additional year to all players, has anyone heard what 2020 juniors, sophomores and freshman plan on taking advantage of that?

[Drcthru]

With the NCAA's granting of an additional year to all players, has anyone heard what 2020 juniors, sophomores and freshman plan on taking advantage of that?

Why would any not?

[Farfromgeneva]

All in is like $72k now and we don’t have any grad programs except a MAT

[Laxgunea]

I think Scott is done. Heard they bent over backwards, but in the end it was visa problems.

And for TAV: one reason the financial outlook is so terrible for colleges is that tuition driven schools are facing a disaster in 2024 as high school graduation rates drop. Why? As you said, it always goes back to money ... 2008 crash -- people stopped having kids.

Other news: not sure the Poole Dome is playable for a while. I heard the collapse was due to a structural fault, and that it still hasn't been certified as safe for use. Hope that changes soon. Great incoming class of lacrosse players.

[Farfromgeneva]

Bummer on Scott. Would’ve been a tremendous 4.5th season for him I have no doubt. Really enjoyed watching him transition from a pure shooter/scorer to a complete two way midfielder over the years.

[MDlaxfan76]

I think Scott is done. Heard they bent over backwards, but in the end it was visa problems.

And for TAV: one reason the financial outlook is so terrible for colleges is that tuition driven schools are facing a disaster in 2024 as high school graduation rates drop. Why? As you said, it always goes back to money ... 2008 crash -- people stopped having kids.

Other news: not sure the Poole Dome is playable for a while. I heard the collapse was due to a structural fault, and that it still hasn't been certified as safe for use. Hope that changes soon. Great incoming class of lacrosse players.

Will we see increasing % of overseas students come 2024?

Seems to me that may be the only way for many of these schools to remain afloat.

[Farfromgeneva]

Just check their test scores so you don’t end up with a Duke MBA issue down the road.

[Laxgunea]

Maybe we could pull a Lori Laughlin and improve our endowment with a few players who have never seen a stick.

[stupefied]

Is Hobart in financial jeopardy?

[Farfromgeneva]

Not immediately, but we are staring at a 8 figure operating deficit this year, weak endowment relative to peers (+/- $200mm) from a lack of fundraising under the prior president (Gearan, not Vincent, his Achilles was asking for money but plenty was spent in front of the directed donations for the performing arts center particularly and also the boswell/field house renovations) in light of the general decline in the NE in college age applicants coming. Been pretty insular and locally focused which held its charm and did well in the 1970s and 1980s but many 1980s and 1990s administrative holdovers are ill equipped to make the hard decisions necessary and have generally abrogated responsibility to an increasingly arrogant and power hungry faculty (Duetchman and Jodi Dean being prime examples, used to have stronger academic focused faculty like Pat McGuire and Dan OConnell who weren’t concerned with internal politics, in fact what was once a very strong economics department is Tom Drennan and that’s about it).

We are fine over the next 5-10yrs compared w many upstate schools: Elmira, St John Fisher, Lemoyne, Utica, Wells, etc but have fallen to bottom of pack vis a vis Liberty League cohort which includes Vassar, Union, RPI, Skidmore, Clarkson, Bard and even (ugh) St Lawrence, who was thisclose to bankruptcy in 1980s, both financially and overall perception as may be gleaned from US News where we’ve dropped from upper 50s in the National liberal arts ranking to around 73 in the last 10-15yrs. Formerly ahead of a few LL peers and in the ballpark with Union and some lower level NESCAC schools like Hamilton, Conn College, Trinity to a mix of SE and midwestern liberal arts colleges they wouldn’t have associated with 1-2 decades ago.

So not immediate trouble but also the tail end of the Dick Hersh presidency (predecessor to President Gearan) turned off a lot of 1990s grads who are now prime earning/donor phase of life and giving rate sucks balls with that cohort. (I’m 01 so lived through end of Hersh and beginning of Gearan, even holding a position in student government the year he started).

If folks are being honest and self critical, we have work to do. Unfortunately a sprawling board of largely local area people, local administrators that are insular, far too powerful faculty worries me about our ability to keep and improve the trajectory in the face of a semi existential crisis coming for all NE colleges that aren’t state funded or top tier w $350-$400mm+ endowments.

[Farfromgeneva]

Goalie from Blue Ridge in 21. That class is filling up now, considine, Murray and a few others, looks like more back half of field players so far

https://dailyprogress.com/sports/blue-r ... da0f2.html

[stupefied]

Not immediately, but we are staring at a 8 figure operating deficit this year, weak endowment relative to peers (+/- $200mm) from a lack of fundraising under the prior president (Gearan, not Vincent, his Achilles was asking for money but plenty was spent in front of the directed donations for the performing arts center particularly and also the boswell/field house renovations) in light of the general decline in the NE in college age applicants coming. Been pretty insular and locally focused which held its charm and did well in the 1970s and 1980s but many 1980s and 1990s administrative holdovers are ill equipped to make the hard decisions necessary and have generally abrogated responsibility to an increasingly arrogant and power hungry faculty (Duetchman and Jodi Dean being prime examples, used to have stronger academic focused faculty like Pat McGuire and Dan OConnell who weren’t concerned with internal politics, in fact what was once a very strong economics department is Tom Drennan and that’s about it).

We are fine over the next 5-10yrs compared w many upstate schools: Elmira, St John Fisher, Lemoyne, Utica, Wells, etc but have fallen to bottom of pack vis a vis Liberty League cohort which includes Vassar, Union, RPI, Skidmore, Clarkson, Bard and even (ugh) St Lawrence, who was thisclose to bankruptcy in 1980s, both financially and overall perception as may be gleaned from US News where we’ve dropped from upper 50s in the National liberal arts ranking to around 73 in the last 10-15yrs. Formerly ahead of a few LL peers and in the ballpark with Union and some lower level NESCAC schools like Hamilton, Conn College, Trinity to a mix of SE and midwestern liberal arts colleges they wouldn’t have associated with 1-2 decades ago.

So not immediate trouble but also the tail end of the Dick Hersh presidency (predecessor to President Gearan) turned off a lot of 1990s grads who are now prime earning/donor phase of life and giving rate sucks balls with that cohort. (I’m 01 so lived through end of Hersh and beginning of Gearan, even holding a position in student government the year he started).

If folks are being honest and self critical, we have work to do. Unfortunately a sprawling board of largely local area people, local administrators that are insular, far too powerful faculty worries me about our ability to keep and improve the trajectory in the face of a semi existential crisis coming for all NE colleges that aren’t state funded or top tier w $350-$400mm+ endowments.

Thank you for thorough brief, always a good read ...Asked because H/W financial viability was injected into lax convo by Colgate lax parent which made me seek true state . Glad to hear that Hobart should be ok in intermediate timeframe affording time to adjust to evolving landscape. Upstate colleges with large endowments ie Cornell have likely benefitted much from market gains but smaller schools have more challenges to weather. Told Syracuse raised tuition by 4% which perplexes in current environment. Perhaps shifting costs to some to offer financial aid to more but pushing envelope imo.

[Farfromgeneva]

Interesting. Guess I’d be pulling that scam too if my team got beat like a red headed step child last two years by Hobart. Sort of a derivative of the “that’s ok you’ll be working for us one day“ at the end of a bad loss that ive seen at Georgia Tech/UGA games far too many times. My hope is we can consolidate better student from area schools that are closer to door closings and drift up that way but we will see.

[stupefied]

Interesting. Guess I’d be pulling that scam too if my team got beat like a red headed step child last two years by Hobart. Sort of a derivative of the “that’s ok you’ll be working for us one day“ at the end of a bad loss that ive seen at Georgia Tech/UGA games far too many times. My hope is we can consolidate better student from area schools that are closer to door closings and drift up that way but we will see.

Lol, agree.

[Laxgunea]

I agree with most of your analysis FFG, but not all of it. Faculty not nearly as powerful as they were when you were there. Iva is gone ... forced out. Upper admin doesn't listen to Dean. The problem in econ is that they got top heavy and everyone retired around the same time. They haven't been able to hold young faculty because they get quickly snapped up by better paying schools. Also, all die respect to Drennen, but the very best they have now is Waller ... probably the top Veblen expert in the world and just finished a fellowship at Oxford a year or two ago.
HWS faculty just ranked 9 in nation among peers ( based on student rankings). The place runs on volunteerism and love ...all behind the scenes. Upper admin took a 20% payout this year. Everyone else 13%, plus 50% reduction to 401k.
The bloat was Gearan"s and was largely in student affairs, administration, and some athletics. That athletic bloat is gone now and there is no fat to trim.
The other issue was admissions. We mortgaged reputation to bring in big classes to pay for buildings (not infrastructure ... though the place could sure use better connectivity now). Current VP of admissions is turning it around, but it is bitter medicine in the first few years. Should have never had a PepsiCo salesman in admissions. Run a school like a business and you get what you wish for. Next and final turnover must be in upper admin ... but not new pres or provost, who are tough but good.
Pres announced that budget is balanced for this year. I dont believe it because no one yet knows who returned for the fall. Classes dont start until Monday.
Bottom line: Gearan was a blue sky guy who didnt raise the money people thought he did. He and Vincent both walked with nifty settlements .... enough to cover last years deficit. It isnt the incoming profs at 63k per year and 200k debt who are the problem.
I'm class of 85, and I'd love to see the donations increase across the board. A cool 300 mil from Abigail Johnson wouldn't hurt! ( JK ... rumor is she gives a ton on the DL).
Good news is we'll survive. And be better for it. Stock will rise if we can keep it open all fall.

[Farfromgeneva]

Didn’t realize Waller was still around, I had Gunn (apparently of the Gunnery family) for political Econ. Both are very good, but felt really strong when we had them plus Gilbert, McGuire, McGowan (crazy but strong) Frishman the McKinneys, etc. saw the ranking promoted not sure what it means but we’ve always underpaid faculty.

Talked to a FB player who moved up (off campus) last Monday to help his younger FR brother come and not everyone is showing up it’s pretty clear and there’s going to be a big hole this year despite laying off of furloughing a number of staff including half the FB coaches.

We’re on the same page re Gearan which is why I don’t understand the crowd that wants to put a statue of him up based mostly on tenure.

Hanna screwing up the D1 paperwork (Not filing, that’s on him) for 15yrs leading to NCAA sanction to force us to hire the compliance guy OConner was a bad waste of resources too.

Still think the career services is pretty underwhelming when it costs like $70k+ full sticker to attend. Get a nice crib in Seneca lake for $300k.

I’ve heard Abby Johnson gives money behind the scenes but with our endowment it clearly hasn’t been that much.
She’s worth an estimated $16Bn. 5% of that would be 4x our current endowment and push us to around $1Bn (and for what it’s worth probably up 10-20 spots in USNWR on that alone). If we’re low $200s, she can’t have given more than 1/10th of 1% (10 basis points, $16mm). https://en.m.wikipedia.org/wiki/Abigail_Johnson

[Farfromgeneva]

Just a refresher on what we are all about:

https://vault.si.com/vault/1974/04/22/s ... -big-shots

[faircornell]

I could be wrong, but I see from a social media post that HWS is opening this fall. Good luck with the academic opening. I hope that it goes well for you.

[Farfromgeneva]

Start classes on Monday (think FR had orientation last week). Here’s to hoping it works out. We’ve got a new president, Joyce Jacobsen (preciously at Wesleyan), who has a lot riding on this.

[Drcthru]

Start classes on Monday (think FR had orientation last week). Here’s to hoping it works out. We’ve got a new president, Joyce Jacobsen (preciously at Wesleyan), who has a lot riding on this.

Nice typo