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GUEST ROOM | Our Students Are Paying for a ‘Fat and Happy’ Budget

In response to The Sun’s Oct. 29 article, “Cornell Bleeds Red Ink in Latest Financial Report with Operating Losses of $104 Million,” as an alum, parent and long-time volunteer for the University I was not surprised by the bad news. While student tuition and alumni contributions continue to rise, once again University expenses outpaced revenues. In the world of finance, most businesses and not-for-profits lose money by either not generating enough revenue or they pile on too much administrative overhead. Many iconic brands like Eastman Kodak, Lehman Brothers and Enron filed for bankruptcy or closed because executives rewarded themselves with fat salaries and happily ran to the bank while taking their eye off the true meaning of their business.