Stanford Fat Cats Take Pay Cut: So Now Even the Ivory Tower is Getting Screwed by the Economy

The nations economic decline has forced seemingly cash-flush Stanford to tighten its belt.  The school may have to cut more than $100 million from its general fund over the next few years.  This fund, currently budgeted for over $800 million covers most faculty salaries.  But It’s great to see upper management taking one for the team in these early days - Provost John Etchemendy & President John Hennessy have volunteered to reduce their salaries by ten percent…But with Hennessy making something around $700 thousand to begin with, I doubt I’ll be standing next to him in the bread line any time soon.  Even still, it’s the thought that counts.  

Read the whole article as reported on SFGate here: Stanford Administrators take Salary Cut