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University looking to settle with victims..

  • This should put to rest the idea that the university is going to go broke. Twenty victims, at about a million a piece, is one years profit (not revenue) from the athletic department. It's a marginal expense.

    new-era said... Psu doesnt have enough to beat the conferences better teams and wiscy is one of them.

    leftcoastlion

  • leftcoastlion said...

    This should put to rest the idea that the university is going to go broke. Twenty victims, at about a million a piece, is one years profit (not revenue) from the athletic department. It's a marginal expense.

    Here is the article that you are referencing (I think).

    http://www.msnbc.msn.com/id/47935946/#.T-asEvVS7lx

    Despite what the Drexel Professor says, I think it could be a bit higher than $1 million. Still, it's not going to be a crazy amount that many of the message board geniuses are predicting (the same people that predicted that a Centre County jury would let Sandusky walk). Legal fees and PR fees are going to be significantly higher.

    getmyjive11 ●

  • The University is taking the correct stance by putting it out there publicly that they wish to meet privately and attempt to settle. I would think most members of the Centre County community are PSU supporters at heart and hence will not attempt to add to the public spectacle that this trial has already become with the national media. I think most would agree (although under completely different circumstances) that BP has handled the Maraconda spill settlements well overall and by putting it out there that the University wishes to meet with each victim I believe they are taking the correct stance.

    PSUMJF

  • It is hard to understand for me how the university would have legal liability for some of these victims. If the abuse did not occur on university property and occurred before 2001 when the university became aware something happened not sure how they could be liable.

    PSUkurt

  • I asked this question on FOS and a few people said a good reference would be what the catholic church payed out. Estimated some got as high as $800,000, but not all got that much. So I'd say for sure the victims in the trial will get higher amounts, but take for instance victim 2, hasn't come forward yet, so unless they do there's no payment to be made.

    On top of that, if a victim wasn't in the case, it's going to harder for them to get a settlement, at least a very big one.

    This post was edited by stigs007 on 6/24/2012 at 8:53 AM

    stigs007 ●

  • PSUkurt said...

    It is hard to understand for me how the university would have legal liability for some of these victims. If the abuse did not occur on university property and occurred before 2001 when the university became aware something happened not sure how they could be liable.

    University officials who knew of allegations about Sandusky didn't report them to the police. I can't think of how PSU would be MORE liable.

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    thefonz

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    NittanyAlum80

  • PSUkurt said...

    It is hard to understand for me how the university would have legal liability for some of these victims. If the abuse did not occur on university property and occurred before 2001 when the university became aware something happened not sure how they could be liable.

    It doesn't matter. At this point it's all about restoring the university's reputation. Paying out $20 million is worth it to avoid going to a civil trial where more details about who knew what and when are made public and debated for months. Penn State just wants to make this go away as quickly as possible without any more details coming out. They will gladly pay whatever it takes to do that.

    The only way this goes to trial is if some victims request some ridiculous amount like a billion dollars. They will have no choice but to take that to court and fight it.

    HolyLion

  • Its always about the money...

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    PSUJames

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