ISU Isn't Done Yet
- Thread starter WatWest00
- Start date
I think Zadick was let go for getting busted doing some not quite legal hunting with a few of his wrestlers
I think Zadick was let go for getting busted doing some not quite legal hunting with a few of his wrestlers
He coached for another season entirely after that happened. So, though it may have been a factor in his evaluation, it is doubtful it was THE reason.
Some here apparently are not aware of what you can earn on savings for the last 8-10 years or so. Bank Savings account rates a couple years back brought about $4.50-$4.75 a YEAR interest on $10,000. So multiply that by 100 times to get your Million and you can expect some where in the range of..........shall we say.......... maybe $450-$500 a YEAR in interest.
50K was 20 years ago. Not now.
Notsureifserious.jpg
I don't think anyone disagrees with the basic premise. The disagreement came when you were drawing direct parallels between wrestling accomplishments and coaching ability. For instance, one guy isn't automatically a better coach than another because he had a higher finish at nationals.
Glad we can agree Penn St! I guess I don't want a knee jerk reaction to what ISU did this week. I just hope we (as in Iowa) realize that the field is wide open and doing things different than before maybe and thinking outside the box isn't the worst idea. My 2 cents.
oh ok....guess I had the time frame screwed up....I'm old....early stages of dementiaI think Zadick was let go for getting busted doing some not quite legal hunting with a few of his wrestlers
He coached for another season entirely after that happened. So, though it may have been a factor in his evaluation, it is doubtful it was THE reason.
always kinda thought that was his downfall....who knows....I've always been a Zadick fanMemory was a little foggy......but only off by a few cents.
Commerce Bank-Kirkwood MO. 63122 Savings Account
Beginning Balance on May 11 2012 $10,000.96
Deposits and Other Credits (Interest) +.42
Ending Balance on June 11 2012 $10.001.38
So 42 cents interest x12 months=$5.04 Total for the year on $10,000.00
Take $10,000 times 100 to get your $Million endowment and take that $5.04 times 100 and you get $504.00
Not very close to $50,000 OP thought.
Probably a Banker or accountant on here that might have more current info.
Spooner - i know you weren't responding to me but if you read my posts I surely don't think that it is automatic best wrestlers make the best coaches. In a nutshell, my position is as follows. First, unlike like other sports, track records show that better wrestlers have had better success as coaches. Second, simply because a guy like Metcalf doesn't have coaching experience, at least in wrestling, is not a good gauge for coaching or recruiting ability. Third, kids are kids and they and their families have watched for the past few years certain wrestlers. So having one of those on the staff wouldn't hurt. I personally believe that I would like our chances better to get a recruit if Tom or Terry or Ryan walks into a house of a kid with Taylor or Dake with them. And make sure the kid knows he may get to roll or talk with one of those guys at Iowa. I get the still training and money aspect. I am saying this as I bet these kids watched Brent and he will drill with kids. My only point.
Maybe this is an elaborate troll. And if so, bravo. I will keep playing along: Endowments aren't invested in savings accounts.
Nope, not at all but I am not going to annointe them as the Greatest wrestling staff of all time until they get a chance to show us what they can do and we see if they can work together and have some success.. Seems like a lot of people are pushing the "Panic" button and there is no need to..
8 threads directly related to ISU = full meltdown. I don't think it's justified, especially over salary numbers that nobody really knows.
Sure, but you're going to want to diversify with some Christmas Club investments and some savings bonds as well. Maybe a CD if you're feeling risky.
Kwoodhawk if you have a million bucks you needs to stash, lemme keep it for you. I will give you a $1000 for every year you let me hold it. That's double the going rate and I guarantee it's locked in at that set amount for as long you keep a million bucks in PBS S&L.
If you are not quite there yet I'm sure I could work something out to pay you $10/year on that $10,000.
In all seriousness, anyone investing 7 figures in some community bank's run of the mill personal savings account deserves whatever paltry return that comes with that.
If you are not quite there yet I'm sure I could work something out to pay you $10/year on that $10,000.
In all seriousness, anyone investing 7 figures in some community bank's run of the mill personal savings account deserves whatever paltry return that comes with that.
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Sort of like the new U of Minnesota football coach saying he wants to expand the Gopher stadium to 85,000 capacity in the next 3 years (adding 30,000 seats)... One little problem ... Minnesota can't sell the seats it already has ... Makes for a great sound bite ... but what's realistic ... I will give ISU credit for taking steps to improve the wrestling program
Alternatively, the university could invest the $1 million so that its value would be preserved over time and its earnings year after year, in good times and bad, would be available to the department to meet its continuing commitments. At most colleges and universities, this investment would generate about $40,000 to $50,000 of spendable income each year (increasing annually at roughly the rate of inflation).
Reference:
http://www.acenet.edu/news-room/Documents/Understanding-Endowments-White-Paper.pdf
Reference:
http://www.acenet.edu/news-room/Documents/Understanding-Endowments-White-Paper.pdf
Back to the point--endowments aren't invested in garden variety bank savings accounts.
Still, it shows that $1M ain't going to cut it, at least not for who Iowa wants to be able to bring in.
What should a post-collegiate wrestler be able to earn, after expenses for wrestling are paid? $30k?
I would think/hope that some real estate magnates in the IC area would have rentals available for a good cause such as this, right?
What should a post-collegiate wrestler be able to earn, after expenses for wrestling are paid? $30k?
I would think/hope that some real estate magnates in the IC area would have rentals available for a good cause such as this, right?
I bet the $30K number is very low. My guess is that for a top flight post college wrestler the number is closer to $100K PLUS travel expenses and entry fees. I might be too high with that but I'm thinking not by much.
Wow, which RTC is paying that? PSU wouldn't surprise me with their two foreign mercenaries, but each of their guys are getting close to $100k?
I mean, good for the wrestlers, I believe they've earned it, I'm just surprised.
I don't know for certain, nor do I know about each guy. I have heard a few things and the rest is guess work. My bet--I'm not far off.
Lets have ISU "catch" UNI first. Lets not forget a couple weeks ago when they scored ONE point. Who do they have that will do damage next year? It'll take a few years to turn around even with a good staff.
Very. Wrestling as a sport needs more Andrew Barth's in it. Not that there are a lot of them around.
Those salaries, if true, are stupid. Just my opinion. They could have saved a lot of money on salaries.
So you're in favor of one of the few post graduate jobs wrestlers can gravitate to and stay in the sport, being paid less?
No. Im glad all 3 of them have jobs AND the money. Good for them. I simply think Dresser and ISU overpaid for coaches...if the reports are true. Just an opinion. If you think its a smart play or is good for wrestling thats cool.
To think that ISU/Dresser as just a new steak house would be a big mistake. Dresser has proven he can recruit/coach with his results at WV. ISU wants itbad right now.
Oh My! Complete and total embarrasment.
Got my simple one track mind focused on cash/money market rates and had no thought at all of how an Endowment would be invested normally. Complete mind lock down.
Looking for "pie in the face" emoji to throw at me.
If only I was smart enough to troll well. Completely got my mind locked onto interest rates on cash/money market funds and completely blanked on how Endowments are invested. Total and complete mental crash on my part.
Think I must have had brain fatigue from banging my head on keyboard after failing at "copy and paste"
Looking for "dunking booth" emoji with SPOONER throwing the ball and Kwood making a splash into the water.
Kwoodhawk if you have a million bucks you needs to stash, lemme keep it for you. I will give you a $1000 for every year you let me hold it. That's double the going rate and I guarantee it's locked in at that set amount for as long you keep a million bucks in PBS S&L.
If you are not quite there yet I'm sure I could work something out to pay you $10/year on that $10,000.
In all seriousness, anyone investing 7 figures in some community bank's run of the mill personal savings account deserves whatever paltry return that comes with that.
My example was from Dad's savings account with his last chunk of change before he passed away. He wanted quick access to his cash so he didn't keep it in CD's anymore.
I guess I am still upset that for 10K all he got in interest for a year was just enough to buy a happy meal at McDonalds ONCE A YEAR.
Guess my anger got me sidetracked on the Endowment investing thingy. But then anger usually makes us all make silly/stupid decisions/actions. I think there is a Life Lesson in there somewhere. Maybe if lucky I'll finally figure it out. Don't anyone hold their breath.............
Can't even find a "pin the tail on the donkey" emoji either. Where are all the good ones when you need them most?
Might have to self report myself to the Mods..............sigh...........
I did notice that widespreadgeo's rant/thread is gone today.........hmmmmm
Might have to self report myself to the Mods..............sigh...........
I did notice that widespreadgeo's rant/thread is gone today.........hmmmmm
