Anonymous said...
I for one am waiting to see how the budgetary problems affect our worker training schools. As a parent of an LPS child, I wonder how staff in Watertown will be affected and how much tuition will rise next year. We need to pray that the Lord will bless our leaders with wisdom in order to deal with these challenges.
February 7, 2009 9:24 AM
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Bruce Church said...
And guess what! The recession is going to get worse. Read this from Spiegel:
MORE TROUBLE AHEAD
Europe's New Wave of Toxic Debt
By Carol Matlack
A decade of heavy borrowing has lofted euro zone debt to $11 trillion, and it's starting to come due just when companies are strapped for cash. Rising defaults could send shock waves through global markets.http://www.spiegel.de/international/business/0,1518,605887,00.html
February 7, 2009 3:33 PM
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Benjamin Tomczak said...
The good news is that despite the challenges, we've managed to eliminate about 30% of the Synodical debt -- it's been reduced from $22.4 to about $16.2 million.Also, the Ad Hoc Commission -- which was tasked to study some of these issues, start the discussion among the Districts and bring a report of recommendations and encouragements to this summer's convention -- is preparing it's final report. Despite our smallness, it's still a big ship that turns slowly -- frustratingly slow. We're also having to deal with the reality that our President is not an autocrat who can dictate policy and everything happens according to his whim. That's just not how we're set up -- for better and for worse.We continue to lay things before the Lord of the Church and trust in His confidence, knowing that the Church can never be overcome!Pr. Benjamin TomczakPSAs of right now, LPS is offering a $200 discount to all new students who ask for it. MLS is reducing tuition by 10% for the 2009-2010 school year. The goal is to increase revenue by increasing enrollment, not fees.
February 7, 2009 4:36 PM
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Anonymous said...
This just shows the lack of forward thinking by the 2007 Synodical Conference.When presented by long term financial challenges (yes, there was evidence in 2007 of major problems), instead of making hard choices, a "wait and see" attitude was taken.Instead, "feel good" votes were made, and the issue was pushed under the rug.Now, there is news that the 2.5 million dollar Canadian gift had to be rescinded due to the crashing Canadian Market. It is also noted that the Schwann (sic) Foundation will not be able to give as much money this year.Over the past decade or so WELS has increasingly relied on large endowments, and has made long term commitments (sic) on sources that can often fluctuate dramatically.I predict no major changes to the course of WELS at the 2009 Synodical conference. Changes will only be made once the treaury (sic) runs dry. Then it will be mass panic and accusations of "Why didn't we know ? "
February 8, 2009 7:41 AM
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Anonymous said...
A. Sell the Mequon (seminary) property, easily 100 million, moved the operation to New Ulm, plenty of room there (cut 15 positions).
B. Close MLS, send operation to Watertown, plenty of room. Saginaw property worthless but you save operating costs and you can cut about 25 positions.
February 8, 2009 8:58 AM
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Anonymous said...
And if I can presume to add to the list:C: Close MLC and move the whole operation to WLC in Milwaukee, cut about 60 more positions.
February 8, 2009 6:43 PM
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GJ - Proofreader Tomczak has the best idea - increase enrollment by decreasing tuition costs. Mueller-Gurgel almost killed the schools by forcing a 30% tuition increase on them. I understand the faculty at MLC was not allowed to refuse a pay increase.
The birth drought is getting to the schools. According to a video I posted, we once had 70% of homes with children in them. Now we have 30% of homes with children. Many people have one child if they have one at all.
Selling The Sausage Factory at the bottom of the market is not a good idea. If they did that, I would put Robert Fleischmann, CLR (nee WELS Lutherans for Life) in charge of it. He is quite the real estate developer. Perhaps a home and business development would be in order, with a catchy name like: Staying Late at Work.
