Regents to release audit of accounts controlled or accessible to FUPJW:

[LimestoneOutcropping]

LOLOLOLOLOL. OK, spin it the way you want it, but when it comes down, you will know the truth LOLOLOLOL

Pointing out the fact what you called an IRS Audit is in fact not an IRS audit is spin? Pointing out your stupidity is spin?

I am not sure he knows what "IRS" or "audit" mean.  Because there is no way anyone with a 5th grade education would mistake that pdf for an IRS audit.

LOL at Ben's ridiculous assertions.  Speaking of tiers, why can't ku law pull itself out of the crapter?

[WillieWannabe]

Very interesting to find out about all this stuff going on behind the scenes. Makes you realize there are hardly any good ethical guys running things anymore. But if you kutards think this type of thing doesn't go on at uk, you are more retarded than i thought. It may not be run by as big of idiots as K-state, but i would bet money there are some very interesting contracts at uk.... i.e. Free Frosties at Wendy's for Mangino, Free Rogaine at Walgreens for Self, etc...

[GoldbrickGangBoss]

Very interesting to find out about all this stuff going on behind the scenes. Makes you realize there are hardly any good ethical guys running things anymore. But if you kutards think this type of thing doesn't go on at uk, you are more retarded than i thought. It may not be run by as big of idiots as K-state, but i would bet money there are some very interesting contracts at uk.... i.e. Free Frosties at Wendy's for Mangino, Free Rograine at Walgreens for Self, etc...

Probably.

But no one knows that to be the case.

So we shall ride on our high horses.

[fatty fat fat]

goldbrick, you are a dork. we know who you are.

[GoldbrickGangBoss]

You're so irritable lately Fats.

[cireksu]

I was actually  kind of surprised to find that Snyder is just as greedy as I would be in his position.

[vuren]

I was actually  kind of surprised to find that Snyder is just as greedy as I would be in his position.

he's just a man..

[cireksu]

yeah, I mean If I were a coach I'd hide guns and let rapists play for me the way tom osborne did.

[BeaumontCat1%]

I was actually  kind of surprised to find that Snyder is just as greedy as I would be in his position.

Maybe I'm just a power-tard Snyder-lover, but I don't get all the Snyder hate related to this.  As long as he had a decent accountant and paid the taxes on the portion of his income that went through his LLC, I can't tell what he did wrong, other than do a much better job of negotiating his contract than the professors and rowing coach.  He still left a lot of money on the table over the years, imo.  So he took care of his son, bfd.  It wasn't Snyder's responsiblity to protect KSU's interest when negotiating his employment contract; all of that lies squarely at the feet of Weef/Krause.  If they were willing to give it, I really can't blame Snyder for taking it.

And I don't remember Snyder ever saying that he was willing turn down $$$ to benefit KSU.  If he did, LOL at anyone that actually believed it.

[steve dave]

I was actually  kind of surprised to find that Snyder is just as greedy as I would be in his position.

Maybe I'm just a power-tard Snyder-lover, but I don't get all the Snyder hate related to this.  As long as he had a decent accountant and paid the taxes on the portion of his income that went through his LLC, I can't tell what he did wrong, other than do a much better job of negotiating his contract than the professors and rowing coach.  He still left a lot of money on the table over the years, imo.  So he took care of his son, bfd.  It wasn't Snyder's responsiblity to protect KSU's interest when negotiating his employment contract; all of that lies squarely at the feet of Weef/Krause.  If they were willing to give it, I really can't blame Snyder for taking it.

And I don't remember Snyder ever saying that he was willing turn down $$$ to benefit KSU.  If he did, LOL at anyone that actually believed it.

I'm assuming you feel the same re. Prince and his contract/buyout.  I do fwiw.  But I don't like him either.

[steve dave]

A little exit analysis
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Nothing like a little light reading for a Friday afternoon, huh?

Hopefully you've had a chance to wade through the 34-page K-State audit released yesterday by the Kansas Board of Regents. We tried to hit the high points in print, but let's be honest, there's a lot of information there.

Once you finish reading, here's an interesting question: Who's really to blame for this mess?

The easy answer is Bob Krause: His name shows up more than any other in the report, and the auditors clearly saw his unchecked power as the source of most of K-State's problems.

But remember: Krause's power came from Wefald, and it was granted for a reason. By putting Krause in charge of so many different things, Wefald was able to expand his influence within the university without getting his hands dirty. As much as Wefald talks about hiring good people and letting them do their jobs, it's pretty clear he used Krause to gain control of certain university entities.

The audit doesn't spend much time addressing this dynamic - that wasn't really the purpose - but there is this one sentence that pretty much spells it out:

"However, we found that the concentration of influence by President Wefald through his aggregation of reporting and oversight duties in Mr. Krause has led to a blurring of the lines between some of the entities we reviewed."

In other words, everything goes back to the top. Always has.

You can bet that sentence will show up again if and when the lawsuit involving Ron Prince's secret agreement goes to court. It's going to be hard to argue, given the documented Krause/Wefald dynamic, that the agreement could have been negotiated without the president's knowledge.

But I think it's too simplistic to paint Krause as a yes-man who blindly did Wefald's bidding. I'm just speculating here, but I think it was more complex than that.

I have a friend who compares Krause to Dick Cheney, and the analogy seems spot-on, minus the waterboarding and such. I mean, didn't we hear exactly the same things about the Bush White House, about how Cheney's power ended up short-circuiting a lot of built-in checks and balances?

Put it this way: If you get really good at giving people exactly what they want, sometimes you can slip your own agenda in there without anyone noticing.

There's a scene in "W." where Cheney convinces Dubya to sign off on, uh, enhanced interrogation techniques while the president is eating a sandwich, which is exactly how I picture the secret-agreement conversation between Krause and Wefald. Trust me, Mr. President. This will be for the best.

Anyway, I digress. All this audit stuff actually preempted a post I was writing about AD John Currie's visit to Topeka, which I'll hopefully get to eventually.

But the point is, give Currie and new president Kirk Schulz credit for pushing for disclosure. Granted, it's easier to be transparent when it's someone else's mess, but K-State's new leaders are handling this the right way.

The bottom line is, these guys don't seem to view transparency as a threat to their power. Even when they chose not to disclosure certain things -- like the reasons for suspending two longtime administrators last week -- they understand (maybe even appreciate) that it's always our job to push for more information, and that it's healthy to have a dynamic in which leaders are held accountable for their decisions. That'll be a nice change.

[steve dave]

CONFIRMATION THAT JASON WHITLOCK READS KSUFANS.COM!

K-State’s golden era tarnished by financial audit

JASON WHITLOCK COMMENTARY

The Kansas Board of Regents chopped down Jon Wefald, Bob Krause and Bill Snyder in the public arena, choosing to disclose a financial audit the regents surely understood paints Wefald, Krause and Snyder as shady, clueless and drunk on power.

I read the 34-page report. I read the newspaper accounts summarizing the audit. I’m still unclear of who did what, when and where.

My impression is that Wefald, Krause, Snyder and anyone connected to Kansas State athletics during the school’s “football powerhouse era” cashed in on the record and off.

Even Tim Weiser, who had little to do with the golden era, received a no-questions-asked $500,000 loan. Thirteen payments to Krause, Snyder, Weiser and others totaling close to $1 million cannot be accounted for or explained.

The $3 million secret buyout Krause agreed to give Ron Prince seems to be part of a pattern of financial mismanagement at K-State under Wefald’s presidency.

No wonder Kirk Schulz, Kansas State’s new president, said he welcomed the regents’ decision to make the audit public. Schulz is the lone winner in this fiasco. He escapes Wefald’s shadow and gains valuable leverage over Snyder, the iconic football coach.

“The Miracle in Manhattan” now has an enlightening postscript, “The Madoff in Manhattan.”

In retrospect, there is virtually no reason for surprise.

You do not dig out from an NCAA football hell hole, become celebrated as the saviors of a self-esteem-challenged university without cutting a few corners and believing you’re above the ethical standards of transparency that you preach.

My opinions of Jon Wefald and Bill Snyder have not changed. I respect them immensely. I’m astonished by their accomplishments. But I always regarded them as human and therefore flawed. Greed, arrogance and a sense of entitlement can invade their mind-set as easily as yours.

The truth is, Wefald, Krause and Snyder needed to be chopped down for the university to move forward.

I suspect the audit would’ve remained private had Wefald and Krause not renamed Snyder as head football coach on their way out the door. Re-installing Snyder as the unofficial president of the university was/is a serious impediment to Schulz.

Prince should’ve been left in place for one more season, which would’ve allowed Schulz and the new athletic director to fire Prince and hire their own football coach.

Now, after the disclosure of the audit, Snyder can be removed as coach without sparking a civil war in Manhattan. Unless Snyder ignites an amazing resurgence, I expect the university to convince him to re-retire after the 2010 season.

There is also the possibility that Snyder will retire again after the conclusion of the upcoming season. This would be the ideal solution.

Krause’s influence has already been stripped. He resigned from his golden-parachute job at the school’s Olathe campus after the Ron Prince payoff came to light.

Wefald’s influence in Manhattan has now been substantially diminished. He will be fondly remembered as the man who hired and empowered Snyder. Wefald will still get credit for energizing the entire campus, elevating enrollment and improving the school’s academic standing.

But it’s now clear Wefald’s time has come and gone. He spent the last five years trying to duplicate the Bill Snyder hire. That desperation led to Bob Huggins using and embarrassing the university. That desperation led to Ron Prince demanding and receiving a raise after doing very little. That desperation led to Dalonte Hill receiving a ridiculous salary for an unproven assistant basketball coach.

K-State’s athletic department has been completely out of control for years.

The release of the audit gives Kirk Schulz a chance to restore order to the university’s front porch.

People who love the university should politely pressure Wefald and Snyder to resist any urges to fight the changes that Schulz plans to implement.

Wefald and Snyder had their era. It was an incredible success largely because people allowed them to lead. They should give Schulz the same freedom.

[BeaumontCat1%]

I'm assuming you feel the same re. Prince and his contract/buyout.  I do fwiw.  But I don't like him either.

Totally agree.  I hate Prince because he's a horrible football coach and an arrogant douche.  I actually admire him for "getting his".  Pisses me off that it's partly (a very small part) my money, but that's on Weef/Krause, not Prince.

[geezer]

It sure reads like a systematic looting of the Athletic Department funs by a large number of parties.
I don't think I've ever agreed with Dax about anything but he's pretty close to the outrage that this would cause me.

[Kansas Seminole]

Snyder will be audited, wait for it....wait for it.....wait for it....

"Because the US Gov. Can Wait for It's Money"

[sonofdaxjones]

First off . . . it's good to see Stalksmith fulfilling his needs this morning as per usual . . . the little fella is absolutely obsessed with K-State.

Seminole . . . until you get the tax returns for Snyder's corporation, you don't have the first Effing clue if the guy will get audited or not.   For all we know, Snyder's corporation reported every dime of what he was paid to the IRS and taxes were paid on it accordingly.  

You're just not very smart are you??

[CaptainCrap]

K-State’s golden era tarnished by financial audit

JASON WHITLOCK COMMENTARY

...The truth is, Wefald, Krause and Snyder needed to be chopped down for the university to move forward.

If you gave me 1000 years to do so, I could not have summed up life at K-State the last five years better than this. Boom, roasted.

[LimestoneOutcropping]

Snyder will be audited, wait for it....wait for it.....wait for it....

"Because the US Gov. Can Wait for It's Money"

Nice spin.  You still can hardly read. 

[hankh34]

I've noticed J-Mart's offered some pretty good analysis of all of this.  He's really blowing Meek away.

[Trim]

http://www.kansas.com/708/story/861621.html

 

KRAUSE: Look, Jim, don't think I'm not understanding what you're trying to ask, it's just... dude, listen, I've hit the school up for $300K over the last seven years in advising fees. And I work there. Think I feel bad about that? No. I bought a boat, partner. A big one, on Feel Bad Lake in Krausey-got-paid County.

[Kat Kid]

http://www.kansas.com/708/story/861621.html

 

KRAUSE: Look, Jim, don't think I'm not understanding what you're trying to ask, it's just... dude, listen, I've hit the school up for $300K over the last seven years in advising fees. And I work there. Think I feel bad about that? No. I bought a boat, partner. A big one, on Feel Bad Lake in Krausey-got-paid County.

hilarious

[Pike]

KRAUSE: You know it. Ain't no way. I guarantee you guys that the economy is starting to shape up, and after McCain gets elected... man! People will be lining their pockets with cash! Ticket sales are gonna go through the roof!

lmao. This is probably pretty close to how a conversation actually would go with these clowns.

[steve dave]

KRAUSE: Look, Jim, don't think I'm not understanding what you're trying to ask, it's just... dude, listen, I've hit the school up for $300K over the last seven years in advising fees. And I work there. Think I feel bad about that? No. I bought a boat, partner. A big one, on Feel Bad Lake in Krausey-got-paid County. And you will too, someday. Now wake Cavello up, will ya? It's time to pay the check. (Epps shakes Cavello's shoulder and Cavello startles awake, a dazed look in his eyes.)

God, great idea for a piece.  KK, I'm ashamed of us for not doing this first and funnier 

[Trim]

God, great idea for a piece.  KK, I'm ashamed of us for not doing this first and funnier 

If you'd met the guy who wrote it, you'd be even more ashamed.

[steve dave]

God, great idea for a piece.  KK, I'm ashamed of us for not doing this first and funnier 

If you'd met the guy who wrote it, you'd be even more ashamed.

f^ck :hangshead:

[CrimsonBlue]

First off . . . it's good to see Stalksmith fulfilling his needs this morning as per usual . . . the little fella is absolutely obsessed with K-State.

Seminole . . . until you get the tax returns for Snyder's corporation, you don't have the first Effing clue if the guy will get audited or not.   For all we know, Snyder's corporation reported every dime of what he was paid to the IRS and taxes were paid on it accordingly.  

You're just not very smart are you??

ALL IS WELL!!!!!

[sonofdaxjones]

Lame Bentard . . . clearly you're too much of a tard to understand how this stuff works.

Kind of sad . . . actually.

[CrimsonBlue]

Lame Bentard . . . clearly you're too much of a tard to understand how this stuff works.

Kind of sad . . . actually.

 

[sonofdaxjones]

The Mayor of Tardville taps out again.

Sad . . . really.

[CrimsonBlue]

The Mayor of Tardville taps out again.

Sad . . . really.

Massive corruption from top to bottom taking place at K-State... and the king of moral high ground, Daxipad, is still a fan.  Imagine that.  How much cash do you think they swept under the rug for Beasley and Walker, 'Pad?  I'm thinking a couple hundred thousand.