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Back to Quack Off
Quack Off
by
Free Market
Duck
Boise's
Watergate is alive and well as Idaho's SBOE allows U of Idaho to raid private U of Idaho
Foundation for $111,000 to pay for new U of I Prez
Apr 23, 2009
Hot damn, this is exactly the
type of financial mismanagement and rule breaking that got previous U of I
Prez Bob Hoover, ex Gov Dirk Kempthorne, and a host of other political and
administrative leaders into the Enron-like implosion of the $136 Million
failed University Place fiasco from 1998 - today. I say "today"
because the U of I Foundation is still in court today suing California
developers Civic Partners in the previous Boise's Watergate scam. -- Deep
Throat II
Boise, ID –
Here we go again, girl friends. As predicted by author Deep Throat II
who wrote Boise's Watergate: University Place & All The Governor's Men, if
the real crooks and criminals in the 2005 University Place fiasco were not
properly indicted and prosecuted, history would repeat itself. So
guess what? History is now repeating itself as the Idaho State Board
of Education, who promised to implement new rules to prevent another Boise
Watergate from ever happening again, just broke those rules and voted to
mixed public and private money to "buy" a replacement U of I president:
Duane Nellis from Kansas State University.
Why?
Because the U of I has such a bad reputation that it can't hire
anybody to replace the last U of I president, Tim White, who has since flown
the coop to become president of UC Riverside in California. Several
other recent candidates for the U of I position have all copped out, some at
the last minute, and Nellis was about to color himself Gone With The Wind
unless the yahoos at the SBOE came up with a $335,000 annual salary.
The SBOE was a day late and $37,000 per year short, so they bent the rules
and merged public money with private money to offer Nellis the job.
They also bent rule #2 and offered a 3-year contract instead of 1 year.
But
this is exactly the
type of financial mismanagement and rule breaking that got previous U of I
Prez Bob Hoover, ex Gov Dirk Kempthorne, and a host of other political and
administrative leaders into the Enron-like implosion of the $136 Million
failed University Place fiasco from 1998 - today. I say "today"
because the U of I Foundation is still in court today suing California
developers Civic Partners in the previous Boise's Watergate scam.
As the University Place investigation revealed, the U of I Foundation is a
private corporation created for the purpose of giving endowment money to
help students at the U of I. The U of I treasury and U of I Foundation
treasuries should not be "mixed" in any way shape or form -- as they were in
the failed $136 Million Univ Place fiasco in the early 2000s. The
Treasurer who managed both accounts, Jerry Wallace, was indicted and
convicted for that very same mismanagement.
And so, here we go
again, breaking the rules for expediency, claiming the ends justify the
means, and the U of I, State Board of Education, and U of I Foundation are
off and running once again, mixing, matching, and playing around with two
different entities' finances. Sounds a lot like the federal government
today, the Fed Reserve and U.S. Treasury pumping up the money supply to
supposedly buy into and control privately-held corporations, all on the
premise of the ends justify the means.
My advice to
prospective U of I president Duane Nellis of Kansas: read
Boise's Watergate just to find out what
you're getting yourself into. And then turn around 180-degrees and run
like hell back to Kansas before the Idaho crooks drag you, Dorothy, and Toto
down the Yellow Brick Road and into another University Place financial
disaster. -- (You can read all
about the Boise Watergate fiasco by clicking on the following link to Random
House:
U of Idaho
Wallace pleads GUILTY in $136 mil University Place fiasco...
25% Off Boise's Watergate book
available
@
Random House Xlibris Bookstore
Soft Cover Was $20.99 Now $15.99
Hard Cover Was $30.99 Now $22.99) --
Deep Throat
II
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