Eugene David ...The One-Minute Pundit |
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Friday, May 20, 2011
Jim Calhoun, the CEO of Connecticut's professional-collegiate men's basketball franchise, stocks his team with dummies -- and now he'll have to pay...a price:
A low [Academic Performance R]ating is costly to Calhoun personally. His contract calls for him to donate $100,000 to a UConn scholarship fund if the program doesn't meet the APR. He also will forfeit his postseason bonus of $87,500, earned during UConn's run to the national title. This is like what happens to a CEO when his options go underwater: He takes a paper hit but his salary's sure to stay the same. This won't hurt much either. (The bulk of the money he makes, up to $3 million in the final year of his contract in 2014, comes from speaking and media fees). [sic] As I said....
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