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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 3 days ago #393500

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panther2 wrote:

Beast of the East wrote: There is another way to look at it I believe. Some of the highest paid coaches bring incredible value to their school, way beyond wins and losses.

Jay Wright,by doing the impossible, winning 2 ncaa championships in 3 seasons literally has been the most influential person to transform Villanova.

Virtually the entire south campus has been built on the heels of basketball success. The arena has been rebuilt to professional level amenities. The north campus sparkles. Admission is more competitive than ever, and they will tell you for the first time in their history, when given a choice between bc and villanova, more accepted students choose villanova.

The school is now raising $100 million per year in donations. Academic standards have been raised. There are a ton of great employees and to thank them father peter now closes all offices for the Christmas holiday - up to 2 weeks of additional vacation.

For all of this, Jay Wright earns 4.4 million. If any college coach could command 10 million on the open market, either at a big school, or one with deep pockets, or an nba team. He has said nothing doing to all of them, not even leveraging an offer to get a raise at nova.

Should he take a voluntary pay cut with all the great things that have happened because of his success? I'd say no way.

There are others who also raise their school in all ways.

Now I think schools and businesses who ask employees to take pay cuts should promise them that if and when prosperity returns they will be given back pay, I'd be better with the proposition of pay cuts.





Beast, I disagree. If I am making 4,5,6, or 7million dollars a year, I should be able to live with 10% less. The creative way to do this would be to donate that 10% back to the school so that you can get the tax write off.

This would maybe allow schools to keep some secretaries, grounds people, maintenance workers, and others who need their 40 and 50 thousand dollar salaries to feed their families and pay their bills.

After all, how many pieces of cake can one man eat???


I'm not saying Wright has or hasn't taken a pay cut, and neither has he. But here's one thing - I never judge - what people making more than I am do with their money. I've found it's much more productive for me to consider what I should be doing with charitable and time, energy, and assets. When you get into the mindset that wealthier people should do more, than you give yourself a reason to do less. I am continually inspired by the generosity of St. John's biggest donors, many of whom I know - inspired to do more myself when I see how committed they are to helping the school. I think if more people felt like that our school would be in much better shape in all ways.

Closer to home on Redmen.com, Steve Lavin was eviscerated even though he took more than a 10% pay cut when offered the job at St. John's if SJU would allocate additional funds for him to hire a top notch, highly compensated staff. If I am remember correctly, he also pledged to donate $10,000 per year of his contract to the school. The reactions from our "fans" - that's a paltry amount for a highly compensated person, not knowing of course what Steve's other charitable donations may be.

Many folks on here went one step further with Mullin, questioning why he never made a sizable donation to the school. I don't know if he did so quietly, or never did, but who the hell's business is it? If anyone is so concerned about charitable donations check your tax returns, and if you think people should give more, look in the mirror and go make some donations or do some charitable work.

In fact, I am much more in favor of the private sector doing charitable things than leave it to government. It's a seismic difference being political parties, but I don't want this thread to be locked by a distraction and have it end up in politics.

If a million people give $100 dollars, it's much better than a wealthy person giving a million dollars. It's a problem with St. John's alumni, because our endowment given the size of our donor base is kind of paltry for the city where wages are as high as anywhere. People here wait for the Mike Repoles of the world to save our program with donations (when in fact Bill and Leslie Collins with far less assets have given far more but that's besides the point). The point is we should all do more of our share and worry a whole less about what highly compensated people do or don't do. Quite frankly it's none of our business.
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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 3 days ago #393502

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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 2 days ago #393506

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fuchsia wrote: Did the Paul Ryan tax cut have negative impact on writing off charitable donations?


Great question that me--being a geek--looked up. The answer is that the Law raised the after-tax cost of charitable donations 7%...and resulted in lost donations to charities in 2018. Makes sense given the Law's structure.

www.taxpolicycenter.org/briefing-book/ho...es-charitable-giving

www.marketwatch.com/story/americans-slas...-overhaul-2019-07-09

P.S.

The 'answer' is, it's complicated. Following links disagree, but seems charitable donations hit record levels in 2019--but adjusted for inflation were lower than 2017 (before the tax cut). Americans seems to be very generous folks. Nice to see.

taxfoundation.org/tax-cuts-jobs-act-affect-charitable-giving/

www.newsweek.com/giving-tuesday-charitab...reaks-donors-1475136
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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 2 days ago #393537

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Beast of the East wrote:

panther2 wrote:

Beast of the East wrote: There is another way to look at it I believe. Some of the highest paid coaches bring incredible value to their school, way beyond wins and losses.

Jay Wright,by doing the impossible, winning 2 ncaa championships in 3 seasons literally has been the most influential person to transform Villanova.

Virtually the entire south campus has been built on the heels of basketball success. The arena has been rebuilt to professional level amenities. The north campus sparkles. Admission is more competitive than ever, and they will tell you for the first time in their history, when given a choice between bc and villanova, more accepted students choose villanova.

The school is now raising $100 million per year in donations. Academic standards have been raised. There are a ton of great employees and to thank them father peter now closes all offices for the Christmas holiday - up to 2 weeks of additional vacation.

For all of this, Jay Wright earns 4.4 million. If any college coach could command 10 million on the open market, either at a big school, or one with deep pockets, or an nba team. He has said nothing doing to all of them, not even leveraging an offer to get a raise at nova.

Should he take a voluntary pay cut with all the great things that have happened because of his success? I'd say no way.

There are others who also raise their school in all ways.

Now I think schools and businesses who ask employees to take pay cuts should promise them that if and when prosperity returns they will be given back pay, I'd be better with the proposition of pay cuts.





Beast, I disagree. If I am making 4,5,6, or 7million dollars a year, I should be able to live with 10% less. The creative way to do this would be to donate that 10% back to the school so that you can get the tax write off.

This would maybe allow schools to keep some secretaries, grounds people, maintenance workers, and others who need their 40 and 50 thousand dollar salaries to feed their families and pay their bills.

After all, how many pieces of cake can one man eat???


I'm not saying Wright has or hasn't taken a pay cut, and neither has he. But here's one thing - I never judge - what people making more than I am do with their money. I've found it's much more productive for me to consider what I should be doing with charitable and time, energy, and assets. When you get into the mindset that wealthier people should do more, than you give yourself a reason to do less. I am continually inspired by the generosity of St. John's biggest donors, many of whom I know - inspired to do more myself when I see how committed they are to helping the school. I think if more people felt like that our school would be in much better shape in all ways.

Closer to home on Redmen.com, Steve Lavin was eviscerated even though he took more than a 10% pay cut when offered the job at St. John's if SJU would allocate additional funds for him to hire a top notch, highly compensated staff. If I am remember correctly, he also pledged to donate $10,000 per year of his contract to the school. The reactions from our "fans" - that's a paltry amount for a highly compensated person, not knowing of course what Steve's other charitable donations may be.

Many folks on here went one step further with Mullin, questioning why he never made a sizable donation to the school. I don't know if he did so quietly, or never did, but who the hell's business is it? If anyone is so concerned about charitable donations check your tax returns, and if you think people should give more, look in the mirror and go make some donations or do some charitable work.

In fact, I am much more in favor of the private sector doing charitable things than leave it to government. It's a seismic difference being political parties, but I don't want this thread to be locked by a distraction and have it end up in politics.

If a million people give $100 dollars, it's much better than a wealthy person giving a million dollars. It's a problem with St. John's alumni, because our endowment given the size of our donor base is kind of paltry for the city where wages are as high as anywhere. People here wait for the Mike Repoles of the world to save our program with donations (when in fact Bill and Leslie Collins with far less assets have given far more but that's besides the point). The point is we should all do more of our share and worry a whole less about what highly compensated people do or don't do. Quite frankly it's none of our business.


It’s called leadership, something both of our countries seriously lack. A 10% reduction in pay for someone making 7 figures in absolutely nothing, zero. I am shocked that no one is proposing larger percentage cuts especially when the little guy has been getting killed in this pandemic, especially since there probably will not be spectators in the stands these next 12 months.
It has nothing to do with the value they brought to the school. And you proved my point by stating he could have left for another school or the NBA where he would be paid a few millions dollars a year more. So he doesn’t need a cent more, if Jay Wright wanted to be paid more he would have left but he stays at Villanova because he and his wife love the school. That is very noble on his part and I have the utmost respect for him for multiple reasons.
However, we now entered month five of a pandemic with no end in sight. Unemployment in Canada and the US is at levels not seen since WW2. Those who are fortunate enough should not bat an eye lash at helping others stay employed , who as Panther2 pointed out were the first to be let go and probably lost their health care benefits shortly after. These people are hémoraging. To ask a college head coach to take a 25% salary reduction, especially when they have not been able to do the hardest part of their job, out of town recruiting, and no off season practice is a no brainer to me, even if a Diablo Sweeney put Clemson football back on the map.
True story, at the onset of the pandemic all the partners in my firm immediately agreed to a 50% reduction in draw, and a freeze of all expense accounts as well as the elimination of all discretionary firm spending, the whole in order that we could keep our staff employed as long as possible. Other firms let go all non partners and support staff on day 1. We made sure those most affected by a pay cut Or reduced hours would be the least affected and made sure that those who made the most took the largest pay cuts. We care about our staff and consider ourselves to be very privileged. A poor year or two of earnings over a lifetime is the right thing as compared to increasing the hardships of the working person.
As I said it’s called leadership, and leadership starts at the top.
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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 2 days ago #393543

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redmannorth wrote:

Beast of the East wrote:

panther2 wrote:

Beast of the East wrote: There is another way to look at it I believe. Some of the highest paid coaches bring incredible value to their school, way beyond wins and losses.

Jay Wright,by doing the impossible, winning 2 ncaa championships in 3 seasons literally has been the most influential person to transform Villanova.

Virtually the entire south campus has been built on the heels of basketball success. The arena has been rebuilt to professional level amenities. The north campus sparkles. Admission is more competitive than ever, and they will tell you for the first time in their history, when given a choice between bc and villanova, more accepted students choose villanova.

The school is now raising $100 million per year in donations. Academic standards have been raised. There are a ton of great employees and to thank them father peter now closes all offices for the Christmas holiday - up to 2 weeks of additional vacation.

For all of this, Jay Wright earns 4.4 million. If any college coach could command 10 million on the open market, either at a big school, or one with deep pockets, or an nba team. He has said nothing doing to all of them, not even leveraging an offer to get a raise at nova.

Should he take a voluntary pay cut with all the great things that have happened because of his success? I'd say no way.

There are others who also raise their school in all ways.

Now I think schools and businesses who ask employees to take pay cuts should promise them that if and when prosperity returns they will be given back pay, I'd be better with the proposition of pay cuts.





Beast, I disagree. If I am making 4,5,6, or 7million dollars a year, I should be able to live with 10% less. The creative way to do this would be to donate that 10% back to the school so that you can get the tax write off.

This would maybe allow schools to keep some secretaries, grounds people, maintenance workers, and others who need their 40 and 50 thousand dollar salaries to feed their families and pay their bills.

After all, how many pieces of cake can one man eat???


I'm not saying Wright has or hasn't taken a pay cut, and neither has he. But here's one thing - I never judge - what people making more than I am do with their money. I've found it's much more productive for me to consider what I should be doing with charitable and time, energy, and assets. When you get into the mindset that wealthier people should do more, than you give yourself a reason to do less. I am continually inspired by the generosity of St. John's biggest donors, many of whom I know - inspired to do more myself when I see how committed they are to helping the school. I think if more people felt like that our school would be in much better shape in all ways.

Closer to home on Redmen.com, Steve Lavin was eviscerated even though he took more than a 10% pay cut when offered the job at St. John's if SJU would allocate additional funds for him to hire a top notch, highly compensated staff. If I am remember correctly, he also pledged to donate $10,000 per year of his contract to the school. The reactions from our "fans" - that's a paltry amount for a highly compensated person, not knowing of course what Steve's other charitable donations may be.

Many folks on here went one step further with Mullin, questioning why he never made a sizable donation to the school. I don't know if he did so quietly, or never did, but who the hell's business is it? If anyone is so concerned about charitable donations check your tax returns, and if you think people should give more, look in the mirror and go make some donations or do some charitable work.

In fact, I am much more in favor of the private sector doing charitable things than leave it to government. It's a seismic difference being political parties, but I don't want this thread to be locked by a distraction and have it end up in politics.

If a million people give $100 dollars, it's much better than a wealthy person giving a million dollars. It's a problem with St. John's alumni, because our endowment given the size of our donor base is kind of paltry for the city where wages are as high as anywhere. People here wait for the Mike Repoles of the world to save our program with donations (when in fact Bill and Leslie Collins with far less assets have given far more but that's besides the point). The point is we should all do more of our share and worry a whole less about what highly compensated people do or don't do. Quite frankly it's none of our business.


It’s called leadership, something both of our countries seriously lack. A 10% reduction in pay for someone making 7 figures in absolutely nothing, zero. I am shocked that no one is proposing larger percentage cuts especially when the little guy has been getting killed in this pandemic, especially since there probably will not be spectators in the stands these next 12 months.
It has nothing to do with the value they brought to the school. And you proved my point by stating he could have left for another school or the NBA where he would be paid a few millions dollars a year more. So he doesn’t need a cent more, if Jay Wright wanted to be paid more he would have left but he stays at Villanova because he and his wife love the school. That is very noble on his part and I have the utmost respect for him for multiple reasons.
However, we now entered month five of a pandemic with no end in sight. Unemployment in Canada and the US is at levels not seen since WW2. Those who are fortunate enough should not bat an eye lash at helping others stay employed , who as Panther2 pointed out were the first to be let go and probably lost their health care benefits shortly after. These people are hémoraging. To ask a college head coach to take a 25% salary reduction, especially when they have not been able to do the hardest part of their job, out of town recruiting, and no off season practice is a no brainer to me, even if a Diablo Sweeney put Clemson football back on the map.
True story, at the onset of the pandemic all the partners in my firm immediately agreed to a 50% reduction in draw, and a freeze of all expense accounts as well as the elimination of all discretionary firm spending, the whole in order that we could keep our staff employed as long as possible. Other firms let go all non partners and support staff on day 1. We made sure those most affected by a pay cut Or reduced hours would be the least affected and made sure that those who made the most took the largest pay cuts. We care about our staff and consider ourselves to be very privileged. A poor year or two of earnings over a lifetime is the right thing as compared to increasing the hardships of the working person.
As I said it’s called leadership, and leadership starts at the top.


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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 2 days ago #393546

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I don’t begrudge anybody what they honestly make and according to their contract (if applicable) nor am I going to tell them what they should do with it no matter how much or how little they make. That is their business.
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College Coaches Taking a Pay Cut During Pandemic / ESPN 3 weeks 2 days ago #393572

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My sense is that many, if not most, of the college coaches who are making top dollar have already had conversations with their employers about giving back. Whether that's in a salary reduction or a charitable contribution, is between the employer and employee. It most certainly shouldn't concern a bunch of college kids. I've always felt that it's no one's business what I do or don't do with my money. And that's exactly how I look upon what everyone else does with their money; it's none of my business.
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College Coaches Taking a Pay Cut During Pandemic / ESPN 2 weeks 4 days ago #394065

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