USA Today's Matt Hayes wrote an article on what happens when you sell your soul to Private Equity. Utah is $500 million in the green and firing athletic department employees. According to the Utah athletic department spokesman:
“In preparation for the growth of Crimson Brand Partners, the university has begun the process of transitioning select units of some university operations to the new company. The first step of that process requires the discontinuation of the individual positions in those units through a reduction in force (RIF), to be followed by CBP’s hiring process.”
Those who don't get fired get moved to a company, rather than the educational system / university system they decided to work for in the first place. As someone who works in education myself, that idea is really disturbing.
This is the sort of thing anything who works for a university system that is planning to get in bed with Private Equity should be worried about, including all of the B1G schools and B1G Commissioner Pettiti who was pushing for it last year:
