UM ranks #9 in US (#11 in world) among schools with rich alums (i.e., ones making a list of the 70,000 richest people). Here are the ranks in order of the number of alums making the list*::
You’d think that state schools like UM and Cal could rank even higher in producing self-made millionaires. For a variety of reasons, the other schools will probably have a higher proportion of students who later make the list because they have wealthy families.
*Note that I deleted the two internationals (Oxford, Cambridge) and one Harvard entry, since it is listed both for its business school and the entire university.
Business Insider crunches the numbers and Michigan makes the list:
#9 University of Michigan
2013 athletic department revenue: $143.5 million
Average Home Football Attendance: 111,592
Average Home Men's Basketball Attendance: 12,138
NCAA Championship Score: 3
Student Surveys on Athletics: 4.0 out of 5"School spirit is as good as it gets anywhere. Football game days are the most fun days of the entire year. The varsity facilities are incredible across the board. A++ Overall. On the flip side the intramural facilities are unimpressive. Most gyms are pretty old and overdue for a renovation. I don't use them often, but when I do they get the job done and no more. The best thing I can say about them is that they are there."
RS Jr Colin McAtee and RS Senior Tyler Arone were named first and second team All B1G, respectively. Congrats to both!
Michigan has released the October 31 letter to Jim Hackett setting forth the terms of Hackett's employment as Interim AD. The text of the letter is below (LINK for original), with significant points including the following:
- Hackett's appointment was expressly subject to the regents' approval.
- Hackett reports directly to Schlissel, and gets $600,000 per year as base salary.
- The term is indefinite and he serves at the will of Schlissel.
- Hackett gets moving expenses up to $50K, plus a monthly housing allowance.
- Hackett can continue to serve on various external boards of directors, subject to UofM conflict of interest policies.
- Hackett cannot take on any other work without Schlissel's approval.
I've no issue with any of this - Hackett is stepping into a position of great responsibility, and the pay seems to be in keeping with the role.
UNIVERSITY OF MICHIGAN
Mark S. Schlissel
2074 Fleming Administration Building 5113 Thompson Street
Ann Arbor. MI 481094340
T: 734 764-6270 F: 734 936-3529
October 31, 2014
Personal and Confidential James Hackett
This letter is to confirm my offer and your acceptance of the position of Interim Athletic Director at the University of Michigan, subject to approval by the Board of Regents. As Interim Athletic Director, you will report directly to me.
Your appointment will be effective November 1, 2014. The term of your appointment is indefinite, at the will of the President, and is expected to continue until such time as a new Athletic Director is installed. Your salary will be set at the annual rate of $600,000. If you choose to do so, you will be eligible to participate in the University's benefit programs offered to regular faculty and staff; as may be amended from time to time. This includes health insurance, prescription drug, dental, vision, legal, life insurance, retirement savings programs, dependent and medical care flexible spending accounts, short term and long term sick and disability plans, and vacation, holiday and season days. In addition, the University will provide you with a non-elective, institutional 403(b) contribution to be concurrent with the appointment and in accordance with any pre-existing retirement plan and applicable IRS limits.
In accordance with NCAA requirements, you shall provide a written detailed account annually to the president or chancellor for all athletically related income and benefits from sources outside the institution.
The University will assist you in locating a furnished rental to accommodate your household while you are in Ann Arbor and will reimburse you for reasonable moving expenses up to 1/12th of your base annual salary. The University will also provide you with a monthly housing allowance equal to the cost of the rental that you secure (grossed up for taxes). If you should have to sign a lease and your appointment ends before the term of the lease expires, the University will assume any liability for payments under the lease.
You may continue to serve on any external boards on which you currently serve during your term of this interim appointment in accordance with University regulations on outside employment and conflict of interest. Consistent with existing University policy, you must discuss with and seek approval from me prior to accepting any new appointments. Any other consulting, professional engagements or contracts are subject to my prior approval, which will not be unreasonably withheld.
All other terms and conditions of your appointment will be those generally applicable to University employees.
I deeply appreciate your willingness to serve the University of Michigan in this capacity, and I look forward to working with you.
Mark S. Schlissel President
I accept your offer of appointment as Interim Athletic Director for the University of Michigan in accordance with these terms.
Signed as of 3NOV14
Hopefully this will be something to take our minds off of the pathetic offense on our football team.