The criminal prosecution of former Texan Southern University president Priscilla Slade for spending hundreds of thousands of dollars of university funds on "personal luxuries" like a "$1,000 silk canopy for a four-poster bed" immediately recalls the recent ouster of American University president Ben Ladner on similar grounds (The Washingtonian published the definitive account, here.) Ladner's not going to jail because the university board approved paying for things like lavish vacations, a chauffeur and full-time chef.
It also highlights a fundamental principle that college presidents, being smart people, should understand: take cash, not perks.
The American people believe in both success and excess, and there's hardly any amount of money in straight compensation that can shock their conscience. $500,000; $750,000; $1 million -- it's all good! Gordon Gee just got hired back by Ohio State at a seven-figure rate, and few people batted an eye.
But a $1,000 canopy? Well, that's just not right. Perks feel vaguely aristocratic--unearned. People are irrationally attracted to getting free stuff, and thus irrationally angry when other people get free stuff. If Priscilla Slade's salary had been equal to her actual salary plus double what she spent on home renovations, she could have bought whatever crazy useless stuff she wanted, pocketed the difference, and still be president. Instead, she might be going to jail.
This isn't just a higher ed phenomenon -- people got all bent out of shape when the details of former GE CEO Jack Welsh's retirement package, which included free use of a Manhattan apartment and the corporate jet, were revealed. Again, if they'd just added another zero to the end of some number involving his annuities or stock options, nobody would have cared.
So the message to future Priscilla Slades and Ben Ladners is: take the cash and buy your own needless luxuries; everyone will be happier.
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