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http://www.ajc.com/metro/content/metro/0504/26ugareact.html
UGA Foundation trustees shocked
By KELLY SIMMONS
The Atlanta Journal-Constitution
Published on: 05/26/04
SEA ISLAND — On the eve of their annual meeting, University of Georgia Foundation trustees were stunned Tuesday by news that their organization would be terminated.
Reached by telephone, several said they had no inkling the Board of Regents was moving to end the university's relationship with the board.
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Foundation Treasurer Wyck Knox, a leader of the members who had opposed UGA President Michael Adams, learned about the regents' decision from a reporter. "I'm very surprised at that action," said Knox, who was at home in Augusta preparing to come to Sea Island.
Regents emerged from a closed-door meeting late Tuesday and announced they had voted to have Adams effectively dissolve the foundation and begin forming its replacement.
Chancellor Thomas Meredith first threatened the action in January after foundation trustees voted to reduce the amount of supplemental pay that Adams receives from the foundation.
Even so, the maneuver surprised foundation members, who had planned to discuss Adams' compensation at their meeting here. "Everything we were planning to do in Sea Island has to do with the forthcoming year," said trustee William Espy, one of Adams' critics. "That no longer applies."
Trustee Otis Brumby, an Adams supporter, called the board "dysfunctional" and praised the regents for taking action. "I think it's very unfortunate it's come to this, but I think in the long run it's best for the University of Georgia," Brumby said. "It sends a clear message that the regents run the university. They handle personnel issues. They handle compensation issues."
Brumby predicted the university would be able to assemble another group of fund-raisers who would support Adams.
Other trustees were struggling to understand what the decision means.
Peter Amann, a member of the executive committee, said the board would not allow its $400 million endowment to be jeopardized. "We're still bound to support the university," Amman said. "That's what we're about. That's what we're going to do
/ubbthreads/images/graemlins/boom.gif
UGA Foundation trustees shocked
By KELLY SIMMONS
The Atlanta Journal-Constitution
Published on: 05/26/04
SEA ISLAND — On the eve of their annual meeting, University of Georgia Foundation trustees were stunned Tuesday by news that their organization would be terminated.
Reached by telephone, several said they had no inkling the Board of Regents was moving to end the university's relationship with the board.
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PRINT THIS
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Foundation Treasurer Wyck Knox, a leader of the members who had opposed UGA President Michael Adams, learned about the regents' decision from a reporter. "I'm very surprised at that action," said Knox, who was at home in Augusta preparing to come to Sea Island.
Regents emerged from a closed-door meeting late Tuesday and announced they had voted to have Adams effectively dissolve the foundation and begin forming its replacement.
Chancellor Thomas Meredith first threatened the action in January after foundation trustees voted to reduce the amount of supplemental pay that Adams receives from the foundation.
Even so, the maneuver surprised foundation members, who had planned to discuss Adams' compensation at their meeting here. "Everything we were planning to do in Sea Island has to do with the forthcoming year," said trustee William Espy, one of Adams' critics. "That no longer applies."
Trustee Otis Brumby, an Adams supporter, called the board "dysfunctional" and praised the regents for taking action. "I think it's very unfortunate it's come to this, but I think in the long run it's best for the University of Georgia," Brumby said. "It sends a clear message that the regents run the university. They handle personnel issues. They handle compensation issues."
Brumby predicted the university would be able to assemble another group of fund-raisers who would support Adams.
Other trustees were struggling to understand what the decision means.
Peter Amann, a member of the executive committee, said the board would not allow its $400 million endowment to be jeopardized. "We're still bound to support the university," Amman said. "That's what we're about. That's what we're going to do
/ubbthreads/images/graemlins/boom.gif
