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Article: Amid pay furor, Suffolk plans to boost its debt ; Goal is to stabilize finances
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Suffolk University, facing sharp criticism for its president's
hefty salary, plans to take on millions in new debt this week in a
sweeping effort to stabilize its finances, which have been buffeted
by investment losses, weak fund-raising, and aggressive spending.
The Beacon Hill university's fiscal difficulties, outlined in a
report recently issued by a credit rating agency, are casting a
harsh light on president David J. Sargent's $1.5 million pay
package, reported yesterday in an annual survey by The Chronicle of
Higher Education.
University officials said Sargent deserves the pay package,
contending it is appropriate for someone of his experience who has
helped transform the institution. ...