PS Football and the interrcollegiate athletics programs are huge Ponzi scheme. There is no end date to the spending spree, and the only source of equity is the donation pool.
They may be a Ponzi scheme, but they're our Ponzi scheme!
PS Football and the interrcollegiate athletics programs are huge Ponzi scheme. There is no end date to the spending spree, and the only source of equity is the donation pool.
it's what we're up against and why we hate usThey may be a Ponzi scheme, but they're our Ponzi scheme!
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Generations of Greatness.So weird. Drive by the lovable dump nearly every day. Four distinct sections built in four different eras. Probably not unique but certainly unusual.
We are lucky to even have a Ponzi scheme…..They may be a Ponzi scheme, but they're our Ponzi scheme!
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LOL, Joe was the coach of virtually all of those "generations." Where is his name and likeness? Or, did the good Lord bestow generations of greatness upon dear old state because he/she loves ice cream?Generations of Greatness.
Producer Price Index by Commodity: Special Indexes: Construction Materials (WPUSI012011) | FRED | St. Louis Fed
Materials Costs Index:
Jan 2024: 334.374
Jan 2025: 326.249
Jan 2026: 347.710
That is an annualized inflation rate of a tad UNDER 2% per year since project inception.
ENR has non-res construction costs at around 3.5% per year.
US Bureau of Labor & Stats has it as: Bureau of Labor Statistics Data
Jan 2024: 193.074
Jan 2026: 200.772 (Preliminary)
Also just a tad under 2% per annum over that time frame.
But, yeah, sure. Whatever.
Irrelevant anyway - as the competent project managers would have incorporated pricing adjustments expectations over that time and/or locked in rates in critical and impactful components.
PS Football and the interrcollegiate athletics programs are huge Ponzi scheme. There is no end date to the spending spree, and the only source of equity is the donation pool.
Shameful waste of money
Shameful waste of money
Why is it a waste of money? The stadium needed to he refurbished for many reasons, so either PSU was going to spend millions and millions to build a new stadium, which wasn’t going to happen, or do what they’re doing now like FSU just did. I just don’t understand the negativity about this from some when the cost of the renovations never will affect the vast majority of fans, and the end product is going to be great.Shameful waste of money
We'll see how much money they make now that they have to pay the players. As for useless majors, they have to take something to keep them eligible, thought that will go by the boards if it hasn't already.The waste of money is sports that lose money, departments that lose money and majors where kids can't get jobs.
On some Florida board, someone is getting ready to post that it’s a waste of money, or maybe that’s just a PSU phenomenon.FWIW, Florida this week announced a $1.45 billion renovation on the swamp to be completed by 2030.
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Swamp makeover: Florida announces plans for a $1.45B renovation to Ben Hill Griffin Stadium
The University of Florida is planning the most expensive and potentially most comprehensive stadium renovation in college football history, a $1.45 billion overhaul of Ben Hill Griffin Stadium.apnews.com
For their sake, they should have a more compelling presentation of the financial justification for the project. Penn State's was downright pathetic.On some Florida board, someone is getting ready to post that it’s a waste of money, or maybe that’s just a PSU phenomenon.
Because they are spending all those millions on a facility that gets used seven times a year and has nothing whatsoever to do with what is supposed to be the core mission of the University,Why is it a waste of money? The stadium needed to he refurbished for many reasons, so either PSU was going to spend millions and millions to build a new stadium, which wasn’t going to happen, or do what they’re doing now like FSU just did. I just don’t understand the negativity about this from some when the cost of the renovations never will affect the vast majority of fans, and the end product is going to be great.
God, Nebraska, which just refurbished their stadium probably as recently as twenty years ago, now is going to spend millions and millions to do further upgrades.
Logically you’re right. But let’s face it; schools like PSU basically are athletic departments that have universities rather that the other way around. If you want PSU to even have a chance to be relevant in big time college football, then this is a part of the cost of doing business.Because they are spending all those millions on a facility that gets used seven times a year and has nothing whatsoever to do with what is supposed to be the core mission of the University,
Yeah, others are doing the same stupid thing- that's not a justification.
FWIW, Florida this week announced a $1.45 billion renovation on the swamp to be completed by 2030.
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Swamp makeover: Florida announces plans for a $1.45B renovation to Ben Hill Griffin Stadium
The University of Florida is planning the most expensive and potentially most comprehensive stadium renovation in college football history, a $1.45 billion overhaul of Ben Hill Griffin Stadium.apnews.com
Joe's role in improving PSU can't be disputed.Logically you’re right. But let’s face it; schools like PSU basically are athletic departments that have universities rather that the other way around. If you want PSU to even have a chance to be relevant in big time college football, then this is a part of the cost of doing business.
You just have to hope that the success of the athletic department spills over into the academics, and history has shown that it has; I imagine that IU’s admission applications probably are at an all time high now. Look at how PSU grew as a university because of what Paterno did with the football program in the late 60s, and the growth of this school really hasn’t stopped since that time.
Joe's role in improving PSU can't be disputed.
But the growth lately has driven costs up so far that the University depends on out of state and foreign student tuition for survival. The core mission of educating PA's children has been lost. I fear that the future of brick-and-mortar institutions is very much at risk anyway, and only the very best will survive. On the present course, I don't see PSU as one of the very best- I wish I felt differently. no doubt that many institutions of higher education
There’s no doubt that many institutions of higher learning in this country either have lost their mission and/or become bloated, and there needs to be a reformation. This also goes for many Ivy League schools, which we’ve seen from Congressional hearings and other events how incompetently run they are, which has affected the quality of education that students receive at those schools too.Joe's role in improving PSU can't be disputed.
But the growth lately has driven costs up so far that the University depends on out of state and foreign student tuition for survival. The core mission of educating PA's children has been lost. I fear that the future of brick-and-mortar institutions is very much at risk anyway, and only the very best will survive. On the present course, I don't see PSU as one of the very best- I wish I felt differently.
LSU, Alabama, Tennessee, Oklahoma, Oregon all say hello. And Indiana has no difficulty in filling its freshman class.Logically you’re right. But let’s face it; schools like PSU basically are athletic departments that have universities rather that the other way around. If you want PSU to even have a chance to be relevant in big time college football, then this is a part of the cost of doing business.
You just have to hope that the success of the athletic department spills over into the academics, and history has shown that it has; I imagine that IU’s admission applications probably are at an all time high now. Look at how PSU grew as a university because of what Paterno did with the football program in the late 60s, and the growth of this school really hasn’t stopped since that time.
Pathetic? How exactly.For their sake, they should have a more compelling presentation of the financial justification for the project. Penn State's was downright pathetic.
But we will enjoy watching excellence from our seats in a luxury box. Bet we will all feel sorry for the other 106,000 peons in the stadium.it's what we're up against and why we hate us![]()
But we will enjoy watching excellence from our seats in a luxury box. Bet we will all feel sorry for the other 106,000 peons in the stadium.
you are an elite peon, obviouslyAm I ELITE.or a peon? I can never keep that straight.
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And you know this how because that alternative was never presented? Do you know what the plans are for the remainder of the stadium?Pathetic? How exactly.
1. Stadium had structural issues and
2. press box was a hazard
3. Suites were sold out and in demand
4. Stadium did not comply with ADA rules and needed significant improvements all of which are included with this renovation
5. Renovation allows them to monetize the stadium outside of football.
6. a new stadium would have lost the draw to Penn State and cost 2-3x more
7. Stadium includes new welcome center for entire university.
Well except for maybe the exposed Dinosaur Bones and the stuff inside that never properly/adequately grew/functioned with the growing attendance. Still, we loved the house that Joe built. We excluding the haters. Then even the haters agreed it was time for a proper fix, but when they got the fix, they thought was overdue, they still hate it. LOLGenerations of Greatness.
Hey, I resemble that remark. Im in the 106,000 peon section.But we will enjoy watching excellence from our seats in a luxury box. Bet we will all feel sorry for the other 106,000 peons in the stadium.