the Samford Crimson
80th yean, 7th issue
inside...
to inform the mind, to voice the unheard
October 25, 1995
Nevus
Conference:
First tri-state Baptist
conference held here
page 2
Sports
Cross Country:
Prepares for TAAC
championship
page 4
Features
Twins, twins:
Bishop brothers
plentiful at SU
page 6
Editorials
Powell:
The hope of the
'96 elections?
page 7
World & Nation
Capitol Hill:
(AP) The Republican
blueprint for balanc¬
ing the budget by
cutting spending and
lowering taxes is a
step closer to being
finalized. The Senate
Budget Committee
voted 12 to 10 along
party lines Monday
to ratify the plan, set¬
ting up a likely vote
by the full Senate
later this week.
New York:
(AP) They haven't
decided who will
command them, but
Boris Yeltsin has
agreed to send Rus¬
sian peacekeeping
troops to Bosnia. The
agreement came dur¬
ing meetings be¬
tween Yeltsin and
President Clinton.
Convos
Oct. 25:
Steve Hutchinson,
Pastern Baptist Semi¬
nary
Oct. 30:
Kyle and Susan
Matthews, musical sto¬
rytellers
Nov. 1:
Reformation Heritage
Lectures: David
Steinmetz
Corts ranks near
top of pay scale
by Carrie Tomlinson
Staff Reporter
According to the Sept. 29 is¬
sue of The Chronicle of Higher Edu¬
cation , Samford ’s President Thomas
E. Corts ranks among the top 20%
of his colleagues in yearly wages.
Of 477 college presidents, only
76 earned between $200,000 and
$300,000 per year (of which Dr.
Corts was one).
The article named the top five
salaries of college presidents, with
Boston University president’s
$564,020 salary ranking first, and
southern colleges Rhodes and
Vanderbilt followed close behind
with salaries in the $400,000
range.
Samford University’s financial
information was listed under
“Master’s/Comprehensive Univer¬
sities and Colleges.”
The listing, obtained from the
IRS Form 990 (which is filed by
every university), said that Corts’
1992-93 pay was $215,173 and
$221,173 for 1993-94. His benefits,
heclth and pension plans, totaled
$82,178 in 1993-94.
The university’s expenditures
were $65 million in 1993-94, and
the president’s wages were less than
1 % of the budget.
However, when compared to
other colleges of similar status to
Samford, $220,000 was as much as
twice the salary of other presidents.
Sophomore Keane Tarbell
commented, “You’re kidding me.
That’s more than Bill Clinton
makes!”
For example. Stetson Univer¬
sity, with a budget of $54 million,
paid its president $155,2 11 in 1993-
94. Loyola, which had a budget of
$114 million, only paid $112,000
per year.
Sophomore business manage¬
ment major Kari Osborne said, “1
think that as long as Dr. Corts con¬
tinues doing a good job, and
Samford has the money to pay him
that much without putting students
at a disadvantage, it’s fine.”
SGA President Eric Motley
was positive about Corts’ salary. He
said, “Dr. Corts works tremendously
hard and has made the University a
recognized institution across the
country. I have no concern about
what the Board of Trustees deter¬
mines as an appropriate amount for
his compensation. I think he earns
every penny.”
A junior, Brian Marbury, had
an alternative for Corts’ salary. “As
president of Samford, it’s his re¬
sponsibility to build up the school.
I think that instead of giving all that
money to one person, he should be
willing to give some of it back to
various campus organizations, such
as student ministries.”
However, junior Amy Liner, a
language arts major, said, "For all
that Dr. Corts does for the Univer¬
sity and all his responsibilities, I do
not feel that his salary is that outra¬
geous. As far as 1 understand, his
salary is less than 1 % of the budget,
which doesn’t make that much dif¬
ference in the scheme of things.”
Corts was unavailable for com¬
ment. ■
Robert Strickland
/
Photo Editor
All Smiles
Seniors Jenni Cook and Eric Motley accept their
crowns as Samford's Homecoming queen and
king.
Samford funds entirely privatized
by Wes Fulton
Staff Editor
Funds owned by Samford
University are now entirely
under the management of pri¬
vate asset managers.
The decision to place the
funds under private control oc¬
curred earlier this summer, and
the actual transfer took place
on August 1.
Before the decision,
Samford’s funds were con¬
trolled by 10 outside asset
managers, with a small portion
managed internally by the uni¬
versity treasurer.
“The investment commit¬
tee of the Board of Trustees
felt like it would be more eco¬
nomical to have all of our
funds managed by asset man¬
agers,” said Vice President of
Business Affairs Laverne
Farmer.
Farmer said the decision
was related to the decision of
former treasurer Gerald Macon
to resign and go into business
as a private asset manager.
Macon is currently one of
the university’s asset manag¬
ers.
The position of treasurer
has been eliminated.
“He’s under the same
guidelines as all of our other
asset managers. We can pull
[the funds which he manages]
away from him just like that,”
Farmer says. ■
Development
proposals
considered
by Wes Fulton
Staff Editor
Samford University has invited develop¬
ers to the campus this November to propose
possible ideas for the development of the uni¬
versity-owned land across Lakeshore Drive.
Vice President of Business Affairs Laverne
Farmer said that the university hopes to derive <
extra income from development of the land.
According to Farmer, requests for propos¬
als were sent out this past September. The uni¬
versity has since narrowed down the proposals
and has invited developers to campus to elabo-
The Birmingham Banjo Band was pickin' in the sun last Saturday rate on their proposals. The university will then
as part of the alumni barbeque during Homecoming. decide on finalists, and will then enter into fi¬
nal negotiations in early 1996. ■
Hoedown on the Quad
Samford University Library
