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Eustachy a Class Act!

Cyznutz

Cyznutz

Active Member
Jan 6, 2009
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Good article about Larry. He gave back his bonus!

USA Today: Southern Miss basketball coach Larry Eustachy said he refused to accept a $25,0000 bonus because times are tough and wins were hard to come by for his Golden Eagles. "I really compare it to AIG," Eustachy said of the insurance giant that drew public outrage by giving $65 million in bonuses after being bailed out. "Why would I take a bonus when we went backwards?"

http://www.usatoday.com/sports/coll...2009-03-24-southern-miss-eustachy-bonus_N.htm
 
tman24

tman24

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Feb 6, 2008
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We Landed on the Moon!!!

Its ok repeated stories seem to be happening alot lately. slow news month.
 
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sunset

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Oct 18, 2006
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Good for him. It would be pretty hard to turn down cash you are contractually obliged to receive.

Stories from the past couple years really make it sounds like he might have turned things around in his life and is back on the right path. I hope that's true, redemption stories are always nice...
 
ISU_phoria

ISU_phoria

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Apr 10, 2006
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It's also nice to see that while they had a tough year this season, the talent pool is increasing and they expect to have a good year next season. It's easy to cheer for a guy who has been through what Larry has and is now doing it the right way!
 
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CYKOFAN

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Mar 27, 2006
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Doesn't GMac get an automatic $75K bump every year no matter how he does? It would be nice if he followed LE's lead and gave that back.
 
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sunset

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Oct 18, 2006
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Well, damn. I apologize for not seeing the original thread and partaking in what I'm sure was the be-all end-all discussion on this topic. :smile:
 
mplscyclone

mplscyclone

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Jul 8, 2008
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I heard about this for a while as ESPN picked it up. I think it's actually rather silly. It looks more like an act of desperation to keep his job rather than anything else.

If he took a salary cut, then I'd think he'd be more of a class act lol.
 
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CYKOFAN

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Mar 27, 2006
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I don't know whether it was an act of desperation by LE or not, but imo it's the right thing to do to give back bonuses when you don't get the job done, whether it's highly paid basketball coaches or corporate execs making tens of millions.
 
mplscyclone

mplscyclone

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Jul 8, 2008
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CYKOFAN said:
I don't know whether it was an act of desperation by LE or not, but imo it's the right thing to do to give back bonuses when you don't get the job done, whether it's highly paid basketball coaches or corporate execs making tens of millions.
Click to expand...

The bonus was based on attendance though. They met attendance levels so technically the job was done.

If the bonus was for anything tied to winning, then I would agree he should give it back. I got a 7% bonus and I am not an exec. Should I give the money back?

The point I am making is that 38k doesn't really do much for him. It isn't a huge sacrifice on his part.

Corporate exec's bonuses can often be 50% of their base pay which is why people are angry for taking bonuses; it's such a large amount.

It would be a bigger deal and really help save money if he were to slash his base salary but of course he won't do that...
 
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CYKOFAN

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Mar 27, 2006
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I would not expect anybody to voluntarily take a cut in their base salary, it's just my opinion that bonuses should be performance based, and when you're already making millions like a lot of high major basketball coaches and corporate execs, you should give it back when your team or company doesn't perform well. If our attendance goes down next year will GMac not get the $75K bump? I was under the impression that JP made that bump automatic in his contract as long as he's here.
 
mplscyclone

mplscyclone

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Jul 8, 2008
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CYKOFAN said:
I would not expect anybody to voluntarily take a cut in their base salary, it's just my opinion that bonuses should be performance based, and when you're already making millions like a lot of high major basketball coaches and corporate execs, you should give it back when your team or company doesn't perform well. If our attendance goes down next year will GMac not get the $75K bump? I was under the impression that JP made that bump automatic in his contract as long as he's here.
Click to expand...

You are probably correct regarding GMac. I was talking about Eustachy though. His contract says he gets a bonus based on attendance levels. They got to a certain level, so a bonus was deemed. The school made extra revenue based on attendance and kicked some back to LE.

38k sounds like a lot of money but for an athletic dept it isn't make or break. I was saying that it's more of a PR thing to try to keep his job, as opposed to really looking out for the school and saving them money. If he wanted to save them a lot, he'd restructure his contract or give some of his salary back. I'm not saying he SHOULD do it, I'm just saying that this story is kind of irrelevant.
 
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isuno1fan

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Mar 30, 2006
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Big whoopie. All hail LE.

Eutachy a class act...whatever. LE was a poor excuse of a man while at ISU and single handedly set this BBall program back 5-10 years with his escapades.
 
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CYKOFAN

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Mar 27, 2006
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It's pretty sad to blame LE for our recent basketball performances. He had a drinking problem and did some things to embarass the university, but if you saw him and heard him when he returned to coach the oldtimers last year I think you would have been impressed. He looks good and sounds like he's got his life together, and returning the bonus he didn't think he'd earned is just more evidence that he's trying to do what's right imo.
 
mplscyclone

mplscyclone

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CYKOFAN said:
It's pretty sad to blame LE for our recent basketball performances. He had a drinking problem and did some things to embarass the university, but if you saw him and heard him when he returned to coach the oldtimers last year I think you would have been impressed. He looks good and sounds like he's got his life together, and returning the bonus he didn't think he'd earned is just more evidence that he's trying to do what's right imo.
Click to expand...

What I am trying to argue which no one here is really getting is that he did earn the bonus! He just didn't earn his base salary! Cut your base salary in half and make larger bonuses based on wins, and it's all good.

He's in serious danger of losing his job and this was a stunt to keep it. I don't blame him for the problems in this program in the past, but I can't see why people can't see past this!
 
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