Barchi's Companies Do Business w/ Rutgers, Make Him Big $$$

[charlie4change]

As some of you may know, President Barchi, in addition to his $650K salary, has been simultaneously paid to be on the Board of Directors at two private companies that do business with RU.

Here is the latest:
http://newbrunswicktoday.com/article/rutgers-president-has-kept-lucrative-jobs-companies-do-business-ru

Barchi Has Kept Lucrative Side Jobs with Vendors

 

[Upstream]

So this was known, revealed by Barci to the BOG, and reported when Barchi was hired.

And then there is this gem from the article:

"But, Covance had pulled in about $100,000 in business from the medical school that is now a part of Rutgers, between 2008 and 2013.
Perhaps because the scandalous story broke over the summertime in 2013, when the campus was quiet, not much came of it over the past 19 months."

So I am supposed to be concerned because UMDNJ did business with Covance before Barchi was at Rutgers and before UMDNJ was part of Rutgers.

Meaningless muckraking at its finest.
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[Arizona Knight]

$100,000 over 5 or 6 years... Game changing type revenue.

 

[Scarlet16E]

Charlie,

Get a life.

Sitting on boards of directors is something every president of every major university does.
And $100K of business over several years?
Rutgers has a $3.7B operating budget.
Do you even have a college degree?

 

[Upstream]

Originally posted by Scarlet16E:
Charlie,

Get a life.

Sitting on boards of directors is something every president of every major university does.

Pretty much this.

By the way, Charlie quotes someone from Harvard complaining about university presidents sitting on corporate boards. Yet the president of Harvard sits on the board of directors for Staples, Inc. I guess in Charlie's mind that isn't a conflict of interest only if Harvard doesn't buy office supplies.


No chalk for Harvard: http://www.staples.com/Sargent-Art-31-4-Board-Chalk-White/product_877246

 

[NotInRHouse]

Charlie...

There is plenty of corruption in NB.

Basically none of it has anything to do with the RU admin.

Are you trying to be a journalist, or work for the SL? Huge difference....

 

[retired711]

NIRH, I doubt that even the S-L would stoop to trying to make a big deal out of this. Note they haven't picked up the story -- at least not yet.

 

[NotInRHouse]

True. They are saving up to see if they can make hay of anything JH says or does at the spring game.

 

[Jonny S]

Don't you have some slumlords to defend?

 

[Ole Cabbagehead]

Originally posted by Arizona Knight:
$100,000 over 5 or 6 years... Game changing type revenue.

LOL. "Big $$$." I guess Charlie is on a college student budget.

 

[TonyLieske]

Originally posted by camdenlawprof:
NIRH, I doubt that even the S-L would stoop to trying to make a big deal out of this. Note they haven't picked up the story -- at least not yet.

FWIW, I remember reading about this stuff when he was first hired, so the SL probably did cover it. If I recall he had to disclose this stuff during the interview process and the BoG had to decide whether they would hire him with these circumstances in mind.

As everyone has said, though, this type of money is "peanuts" for Barchi, and the prestige of having the University President sit on these boards is generally considered worth dealing with whatever "conflicts of interest" may arise. However, I am also guess that at an entity as large as Rutgers that there are plenty of internal controls that prevent any type of related party transactions from taking place without the review of someone in a position of authority. Most likely, Barchi simply recuses himself from any discussions/negotiations involving Rutgers and the companies on whose boards he serves.