It Was Just One of Those Magical Things

October 30, 2011 By: Juanita Jean Herownself Category: Uncategorized

Now pay to play has brought its cute self to the University of Texas.

In a front page investigative reporting piece, the Austin American Statesman has found some really magical happenings among rich white boys who know each other very well but had no idea they were helping each other out.  Magic like that happens all the time in Texas.

The University of Texas regents took the unprecedented action of investing the University’s money all on their own without any advice from their money management firms — $10 million dollars of it, as a  “unrestricted, unconditional” investment.

Wow! A Real Calendar!

The investment is with a start-up called  My is nothing new.  It collects public information from several websites and public records and allows students to access it all in one place.  It also has a calculator and a calendar.   You know, things your average college student doesn’t have.  It’s free.

Now, the Austin American Statesman found something interesting about this unprecedented investment –

The governing board of the University of Texas System invested $10 million in a privately held company with close ties to the system’s former chancellor, the chancellor’s son and associates of Gov. Rick Perry.

Hot Damn! A Calculator!

I’ll be a second cousin to monkey’s uncle!  Ain’t that a damn coincidence?

Not only is the former chancellor’s son a founder and senior vice president of the start-up, but the political connection doesn’t stop there.  Honey, this whole deal is more connected than a dorm room power strip  —

The company’s chairman and CEO, Michael Crosno, served on the governor’s statewide re-election finance committee last year.

MyEdu adviser Bob Pearson, who holds a stake in the company, donated to the governor’s re-election campaign and is a former Perry-appointed chairman of an advisory panel that recommends proposals

for state funding through the Emerging Technology Fund.

Margaret Spellings, who was secretary of education under President George W. Bush, is also an adviser to MyEdu.

But none of these people, including the Board of Regents, knew anything about all this and are stompin’ that this is not, I repeat, goldarn not, some sort of insider deal.

Yep, it walks like a duck and it quacks like a duck but it’s a porcupine.

It’s also that magical things that happens when you have the right friends.

It also appears that facility and students at UT are not as impressed with as the regents are.

Yep, that’s the UT Board of Regents.  And, yes, they are all appointed by Governor Rick Perry.  In case you’re wondering, UT became a majority minority school in 2010.

And we just invested “unrestricted, unconditional” $10 million dollars with something old white guys think college students will like.

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10 Comments to “It Was Just One of Those Magical Things”

  1. Corinne Sabo says:

    Isn’t this just amazing? All these ducks and one porcupine! Who’da thunk it?

  2. Juanita, you need to see this one! Perry is totally drunk:

  3. Well, with Texas being so small and with so few people, it’s hard to throw a dead rat without hitting someone you know.

    I think it is just wrong that the UT Board of Rejects can invest money without the blessing of the financial experts they’ve hired, particularly without public knowledge of the matter. It just smells ugly. Since the UT system will be a large shareholder, will they be able to play games with the information? No, that would never happen. Also, how is this company going to make money? Maybe by advertising high interest credit cards and beer kegs to students?

  4. website brags about their unique relationship with the University of Texas System. Not a word about the $10 Million, it must have been written before the check cleared.

  5. Maybe I am reading too much into this but that “rate the professor” section of the website scares me because it seems to be there to make trouble for the faculty.

  6. Anna, that occurred to me as well. What’s to keep them “inserting” to make a faculty member look bad. I wouldn’t trust any friends of Ricky.

  7. As an aging white male who had no choice in the matter, I object to this “old white guys” and “rich white boys” business– especially when one of the “old white guys” (UT regents) is visibly brown, one is visibly female, and three (or four?) are visibly not old. Just the content of their characters, ma’am.

    And if you’ll pardon my skepticism, I doubt that this kind of insider transaction was “unprecedented.” The Statesman called it “extremely unusual, if not unprecedented,” suggesting that the writer had better things to do than research whether this was the first-ever sighting of a Texas quacking porcupine.

  8. Juanita Jean says:

    Kevin, I ain’t got nothing against old white guys personally. My Daddy was one and Bubba is one. However, you gotta wonder why they feel “entitled” to make a mess of things while in large groups.

    One of the youngsters you see is the student regent. They don’t let his vote count and the main qualification is that he be an old white guy in training. The one sole single alone female, well, that I’ll give you. One. My, my, aren’t we hooter toters proud of that accomplishment? And one brown guy. Que bueno!

    But, Hon, if you see other guys young enough to remember college unless their wives put them in the appropriate color tie that morning, then your eyesight is better than mine, and your definition of young is overtly liberal.

    I think the Board of Regents at Texas’ premier university ought to reflect the diversity of the student body and the state as a whole. There’s room for some old white guys on the board to represent you, Bubba, and the entire membership of the Sugar Creek Rotary Club, but I don’t think it sends a message of welcome to the big leagues to the minority and female student body at Hook ‘Um U.

    And, I will give you “extremely unusual.” That’ll do in my book.

  9. In a similiar vein, check out the student reporting in the Daily Toreador out at Tech last week. Son of a connected alum suckers the regents and the Alumni Association to lease parking spaces in newly constructed white elephant. Projected $1,000,000+ losses for everyone except daddy’s little boy.

  10. innerlooper says:

    Y’all just confused the Heck outa me. I thought the photo was from a debate.
    [bk row lft .. rt.] huntsman,cain,romney,goodhair,bachman, & newt
    [frt row lft .. rt.] paul,santorum, & 2 rich white guys/i got.

    i thought perry was an agate not a steer
    i’m so confused