In a day and time when the economy is bad, money is low and fiscal responsibility is constantly being scrutinized, people finances and what they do with their money or your money is being monitored at an all time high.
According to a Dayton Daily News investigation, Ohio State University president E Gordon Gee’s personal expenses are in the millions.
What a person does with their money is their own personal business yes.
Reports are that those expenses that range in the millions are funded by the Ohio State University.
In the investigation it was found that Gee who makes millions and is the highest paid CEO of a major university in the country.
Those expenses include Gee traveling the world, being able to wine and dine donors, lavish parties, wooing potential faculty, and maintaining his huge mansion.
Gee’s expenses total out to nearly $8 million.
The university spends $23,000 a month on upkeep of his mansion.
$64,000 on bow ties, bow tie cookies, and bow tie pins, all apart of making Gee a brand name.
Legend has it when freshman show up on campus, Gee hands them a bow tie cookie to break the ice.
Gee himself was unavailable to comment.
The university did.
In a statement, OSU said rigorous standards are used in reviewing Gee’s expenses. “A significant proportion of President Gee’s time, travel and use of the university residence is devoted to resource-generation to support the work of our students and faculty,” the statement says.
JobsOhio President Mark Kvamme supports Gee and said that “his expenses are the cost of doing business for an institution that serves as a major job engine for the state of Ohio.”
In order to do everything that he does, he needs to be everywhere all the time,” Kvamme said. “The way I look at it, every second of Gordon’s time is very, very valuable for the state of Ohio.”
Gee’s travel, housing and entertainment come from an endowment donated to the university for general purposes.
The largest endowment comes from Ralph Mershon, who was an inventor, and left the school $11.6 million in 1952.
It’s not my place to complain how a university such as Ohio State spends it money.
Too often today everyone wants a say in what someone does with their finances. Ohio State is a money-maker for the state of Ohio and it’s economy.
It’s like people complaining about how much a football or basketball coach makes at a big time university yet having no problem with the millions that program or team brings in.
Absolute hypocrisy in my opinion.
Who am I though, I just write about sports.
Filed under: College Football