[yvonne]

Wilner wrote this story that follows the WSJ piece.

A UC Berkeley vice chancellor tries to downplay the impact, but it actually comes out looking even worse!

But John Wilton, Cal's vice chancellor for administration and finance, said that even in a worst-case scenario -- in which Cal sells just 70 percent of the premium seats before its June 2013 deadline -- the fund established to service the bonded debt would not run out of money until 2038.
"We have a long time to take action,'' he said, adding that university officials "will do everything we can'' to avoid using state money.

What's really a head scratcher is that UC officials based their plans on an expectation of raising three to five times as much as Texas and Michigan did for similar projects.

[yvonne]

Wilner wrote this story that follows the WSJ piece.

A UC Berkeley vice chancellor tries to downplay the impact, but it actually comes out looking even worse!

But John Wilton, Cal's vice chancellor for administration and finance, said that even in a worst-case scenario -- in which Cal sells just 70 percent of the premium seats before its June 2013 deadline -- the fund established to service the bonded debt would not run out of money until 2038.
"We have a long time to take action,'' he said, adding that university officials "will do everything we can'' to avoid using state money.

What's really a head scratcher is that UC officials based their plans on an expectation of raising three to five times as much as Texas and Michigan did for similar projects.