Might Jerry Falwell get a $ 10.5 million settlement from Liberty College after the scandal?
We recently discussed the Jerry Falwell Jr. scandals while using a Nascar's personal yacht, Mogul on the filthy allegations arising from an affair with his wife Becki. After resigning from his position at Liberty University, Falwell quoted Martin Luther King as saying, “The quote that comes through my head this morning is Martin Luther King Jr .:“ Free at last, free, God be Thanks almighty, I'm finally free. “It may be a moment of freedom for Falwell, but it will hardly be free for Liberty University, which has promised“ full compensation ”that reportedly could reach $ 10.5 million.
According to the Wall Street Journal, Falwell is reviewing the severance package, which includes $ 2.5 million for two years of his salary, plus a one-time payment of around $ 8 million. This latter amount is based on a contractual clause granting Falwell full pay if he resigns with limited responsibilities.
Falwell insists, "I haven't broken any rules – I'm getting my compensation." That would depend on the terms of his contract. Many employment contracts contain provisions about actions that make the organization or company controversial or ridiculous. Despite the sex scandal, Falwell is accused of running a treasure trove with a Nascar mogul who has received lucrative contracts from Liberty University while allowing the Falwell family to use his luxury yacht. Given Falwell's treatment of the university as a personal fiefdom, it would not be surprising if his contract did not include such limits or conditions.
I have long been a critic of university presidential contracts, which can achieve obscene levels of compensation and benefit.
The answer to the above question is that it is indeed possible to do so because of the historical abuse of such contracts. As I said in 2004, university presidents often select board members and then gradually increase their benefits and remuneration. Such packages are barely scrutinized, and part of my criticism of recent efforts to disband the National Rifle Association is the prosecutors' selective focus.
If a multi-million dollar compensation package is approved by the Board of Directors, every member of the Board of Trustees should fall out of favor. You admitted as Falwell went from one scandal to another. This record shows that his interests were prioritized rather than those of the institution, its faculty, its staff, or its students. The only positive aspect of this scandal would be if the Falwell Treaty led to a wider debate about the salaries and contracts granted to academic presidents and those who run nonprofits across the country.
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