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Why is Jay Paterno Voting against Lasch improvements?

Understand where you are coming from but

I suspect that if his father wanted the renovations under the same circumstances his vote would have been a little different. Just my opinion. always felt he had a little bit of a chip on his shoulder against O’Brien and Franklin but maybe my perception is wrong.
uh yea in spades
 
Art, with all due respect, the things you write aren't automatically true just because you wrote them. How do you know whether that was the case, or whether the Lasch renovations won't be? Football is not losing money. And the Lasch building renovations are about 1/3 of the cost of those renovations/scoreboards.
Do you know what "self-liquidating" means? If not, ask Brandon Short, he doesn't know either.
 
Disagree. i think his arguments were silly UNLESS he votes against every spending initiative. The football program is self funding. We can either be part of an arms race or not but I don't think it is a long term viable option to opt out of the race and remain competitive by thinking we can live in the 80's and say We Are. and quality players will flock to us.

Wrong. The football program funds more than two dozen money-losing sports and a bloated athletic department administration. Given those priorities, money to service the debt for this project will be tight. Maybe this is another one of Ms. Excellence's "100 Year Plans."
 
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Understand where you are coming from but

I suspect that if his father wanted the renovations under the same circumstances his vote would have been a little different. Just my opinion. always felt he had a little bit of a chip on his shoulder against O’Brien and Franklin but maybe my perception is wrong.

This isn't about Jay. it's about a dumb financial decision.
 
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I suspect that if his father wanted the renovations under the same circumstances his vote would have been a little different.
I also suspect that if PSU's Administration had treated Joe better, their constant cravings for $$$ would have been eagerly fulfilled years ago.
 
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Pfft. Lightweight. Sandy laughs at clempson.
laughing-at-you-happy.gif
 
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Guaranteed fundraising would be way better.

Someone had better hope that Pegula is lurking.

My understanding is that the first phase of Lasch renovations was funded by donations and internal reserves. This phase is by debt and there remains one more.

Then there is/was the abortive Athletic Facilities Master Plan. Guess fundraising for the first phase didn't go too well (other than the lacrosse field, which wasn't in the immediate plans). Imagine Populous was paid a nice piece of change for that doorstop.
 
Wrong. The football program funds more than two dozen money-losing sports and a bloated athletic department administration. Given those priorities, money to service the debt for this project will be tight. Maybe this is another one of Ms. Excellence's "100 Year Plans."
Football capital spending would be self liquidating if not for these other sports. So it becomes an issue when football isn’t making as much money as it did. Do you not spend and risk losing revenue in the future? Do you spend and hope it pays off enough to end up ahead? It’s definitely a balancing act. There are plans to upgrade / build new facilities for these money losing programs. Maybe they should look at eliminating a few of those instead. I’m of the opinion you feed your cash cow whatever feed your cash cow desires (within the parameters of what others are doing).
 
Football capital spending would be self liquidating if not for these other sports. So it becomes an issue when football isn’t making as much money as it did. Do you not spend and risk losing revenue in the future? Do you spend and hope it pays off enough to end up ahead? It’s definitely a balancing act. There are plans to upgrade / build new facilities for these money losing programs. Maybe they should look at eliminating a few of those instead. I’m of the opinion you feed your cash cow whatever feed your cash cow desires (within the parameters of what others are doing).

Sandy laughs at eliminating.
 
Football capital spending would be self liquidating if not for these other sports. So it becomes an issue when football isn’t making as much money as it did. Do you not spend and risk losing revenue in the future? Do you spend and hope it pays off enough to end up ahead? It’s definitely a balancing act. There are plans to upgrade / build new facilities for these money losing programs. Maybe they should look at eliminating a few of those instead. I’m of the opinion you feed your cash cow whatever feed your cash cow desires (within the parameters of what others are doing).

Spending on a project that, in and of itself, does not generate cash is the same as losing future revenue except: a) it's classified differently (increased expense); and b) it's guaranteed. Regardless, do you believe that anyone did a dollars and cents analysis? Don't bet the old homestead on it.

But you raise a good point about feeding the cash cow. Unfortunately, the folks who run the Athletic Department don't think that way, or, at best, are late coming around. If you look at the first presentation of the Athletic Facilities Master Plan, Beaver Stadium was in the last phase, fifteen or more years off, and other football facilities weren't even mentioned. Instead, the immediate plans were to build an outrageously expensive aquatic facility, indoor tennis courts, upgrades to the soccer stadium, a practice facility for the money-losing sports, and last but not least the Center for Excellence (who the fvck names a building that?). If those are the projects to which you refer, fortunately, it doesn't look like they are happening (or it's the best kept secret outside of Area 51).
 
Spending on a project that, in and of itself, does not generate cash is the same as losing future revenue except: a) it's classified differently (increased expense); and b) it's guaranteed. Regardless, do you believe that anyone did a dollars and cents analysis? Don't bet the old homestead on it.

But you raise a good point about feeding the cash cow. Unfortunately, the folks who run the Athletic Department don't think that way, or, at best, are late coming around. If you look at the first presentation of the Athletic Facilities Master Plan, Beaver Stadium was in the last phase, fifteen or more years off, and other football facilities weren't even mentioned. Instead, the immediate plans were to build an outrageously expensive aquatic facility, indoor tennis courts, upgrades to the soccer stadium, a practice facility for the money-losing sports, and last but not least the Center for Excellence (who the fvck names a building that?). If those are the projects to which you refer, fortunately, it doesn't look like they are happening (or it's the best kept secret outside of Area 51).

New facility name:

The Anne Saunders “Sandy“ Barbour Grand Cathedral of Practice for Money-Losing Sports
That should cost, what, $150 MM?
 
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Spending on a project that, in and of itself, does not generate cash is the same as losing future revenue except: a) it's classified differently (increased expense); and b) it's guaranteed. Regardless, do you believe that anyone did a dollars and cents analysis? Don't bet the old homestead on it.

Understood. But companies spend money all the time upgrading office space and cafeterias. This space doesn’t generate cash. But it helps acquiring and keeping talented employees. This adds to the bottom line in the long term and is tough to calculate. It’s the same concept for upgrading locker rooms and practice spaces for the football team. It helps retain / attract better coaches and players who ultimately are the product being sold.

Instead, the immediate plans were to build an outrageously expensive aquatic facility, indoor tennis courts, upgrades to the soccer stadium, a practice facility for the money-losing sports, and last but not least the Center for Excellence (who the fvck names a building that?). If those are the projects to which you refer, fortunately, it doesn't look like they are happening (or it's the best kept secret outside of Area 51).

Those are the plans I was talking about. I don’t mind those projects, but I think they should be fully funded before they are started and should not take money away from reasonable and necessary upgrades to the cash cow facilities (necessary to not fall too far behind where we end up in the same class as Indiana and Purdue).
 
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New facility name:

The Anne Saunders “Sandy“ Barbour Grand Cathedral of Practice for Money-Losing Sports
That should cost, what, $150 MM?
If Anne Saunders "Sandy" Barbour were a top notch athletic director (AD) Penn State wouldn’t be borrowing to achieve facilities expansion.

She, (Barbour) is a terrible AD as she proved at Cal Berkeley yet was still hired at PS. And once again Barbour has proven that she’s not qualified to run PS’s Department of Athletics. As Vice President for Intercollegiate Athletics at approximately $700,000 + per, she’s incompetent.

Where is the overarching PS Athletics excellence fund raising efforts aiming at $400 million like VT
or higher amounts like Bama ? There aren’t efforts like this because she’s not well liked and doesn’t have the skills to thread that needle.

When I say that Sandy isn’t well liked, I mean not well liked among PS Alums and Friends who have lots of money.

PS Administration under President Barron “leadership” and the PS BOT have been more interested in making Penn State into the Berkeley of the East than running a first class meritocracy.
 
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Understood. But companies spend money all the time upgrading office space and cafeterias. This space doesn’t generate cash. But it helps acquiring and keeping talented employees. This adds to the bottom line in the long term and is tough to calculate. It’s the same concept for upgrading locker rooms and practice spaces for the football team. It helps retain / attract better coaches and players who ultimately are the product being sold.



Those are the plans I was talking about. I don’t mind those projects, but I think they should be fully funded before they are started and should not take money away from reasonable and necessary upgrades to the cash cow facilities (necessary to not fall too far behind where we end up in the same class as Indiana and Purdue).

1. A well-run company is not upgrading office space and cafeterias when it is cash-strapped and has to borrow to do it

2. So an $80mm swimming hole (believe that was the number cited by Barry Fenchak and I've seen nothing that causes me to question it) doesn't bother you? Ms. Excellence would like to invite you out to dinner.
 
New facility name:

The Anne Saunders “Sandy“ Barbour Grand Cathedral of Practice for Money-Losing Sports
That should cost, what, $150 MM?

Believe the plan was to slap her name on another building, "The Anne Saunders Barbour Center for Excellence." I kid you not, though I can't vouch for the accuracy of it.
 
2. So an $80mm swimming hole (believe that was the number cited by Barry Fenchak and I've seen nothing that causes me to question it) doesn't bother you? Ms. Excellence would like to invite you out to dinner.
If, as I said, they are fully funded (meaning donations for the project have been collected), then I’m all for it. I’m not for borrowing crazy sums of money for facilities that don’t generate revenue and aren’t really for education.
A well-run company is not upgrading office space and cafeterias when it is cash-strapped and has to borrow to do it
A well run company isn’t cash strapped to begin with and probably isn’t behind the competition in these areas either. At some point that company has to decide to shit (bite the bullet and upgrade) or get off the pot (become more like Indiana / Purdue than OSU / Michigan).
 
Believe the plan was to slap her name on another building, "The Anne Saunders Barbour Center for Excellence." I kid you not, though I can't vouch for the accuracy of it.

That goes without saying.
 
Believe the plan was to slap her name on another building, "The Anne Saunders Barbour Center for Excellence." I kid you not, though I can't vouch for the accuracy of it.
Wow. That's ... I don't even know what to write. I'm gobsmacked. I mean ... Well ... I could see a statue modeled after the one of Boudica at Westminster Bridge. A whole building though?

boudica.jpg
 
With everything that’s happened over the past 18+ months, there are plenty of well run companies that are cash strapped.

Yup, it happens and when it does they pull in their horns until conditions change. That said, I'm not sure anyone could call PSU's Athletic Department "well-run."
 
It's odd that people don't want to invest in the program....very odd. OB and JF have to fight for every GD cent for their staffs and every little thing is a begging contest. Winning championships is good for business....not trying isn't.
Spending on sports, specifically football, has to slowdown before virtually every team is losing money.
Most athletic programs already are losers ( I believe).
Its an arms race to ….
 
Via the football excellence fund.
So the football excellence fund will raise incrementally more than the $10mm or so yearly donations that the football program currently takes in in order to service the debt? How much? How long will it take to fully pay-off the borrowings? Usually when a large capital project is undertaken and major donors have committed to it that's included in the announcement of the project. I don't recall hearing that.
 
Wrong. The football program funds more than two dozen money-losing sports and a bloated athletic department administration. Given those priorities, money to service the debt for this project will be tight. Maybe this is another one of Ms. Excellence's "100 Year Plans."
Well what I said was the football program was self funding not that the football program could fund 2 dozen money losers and a bloated AD. Put another way. Let’s say today we average 100,000 fans. If we don’t keep up we could easily drop to 85000 fans. My guess is the revenue 15,000 fans for 7 games would cover the debt service on the renovations
 
Why did they do any of those things? That is really stupid. The slide is supremely dumb
Why? Because apparently there are 4- and 5-star recruits that choose a school because they have a sliding board. If that was not the case, there would be no reason to have it.
 
So the football excellence fund will raise incrementally more than the $10mm or so yearly donations that the football program currently takes in in order to service the debt? How much? How long will it take to fully pay-off the borrowings? Usually when a large capital project is undertaken and major donors have committed to it that's included in the announcement of the project. I don't recall hearing that.

Wow, you weren't the first one they called? :rolleyes: The excellence program doing very well with donations and will likely service the debt load. There have been many individual announcements regarding donor contributions to the fund. Many of us don't care to make that public but if you get the chance to walk through Lasch you will see our names on many of the spaces.
 
Why? Because apparently there are 4- and 5-star recruits that choose a school because they have a sliding board. If that was not the case, there would be no reason to have it.

What happened to making a 40.-YEAR. DECISION. o_O ?
 
Wow, you weren't the first one they called? :rolleyes: The excellence program doing very well with donations and will likely service the debt load. There have been many individual announcements regarding donor contributions to the fund. Many of us don't care to make that public but if you get the chance to walk through Lasch you will see our names on many of the spaces.
Why the fvck would they call me?

So we have it on your authority that the debt will be paid off lickety-split.

rainys%20lickety%20split.jpg

Wanna give us an over/under?
 
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