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Topic: The Post on the CIT

Topic: The Post on the CIT

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Jim G
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Member Since: 12/20/2004
Location: Athens, OH
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The Post on the CIT

Posted: 6/11/2014 11:57:27 AM

http://thepost.ohiou.edu/content/mens-basketball-ohios-ci...

The numbers don't add up. Total attendance for the CIT was 10528. But only 3140 tickets were sold? Are you telling me that 7388 tickets were given away? If all 10528 tickets are sold at $10 the sales would be at $105280. With the 112893.50 price tag to host the games the net loss would only be $7613.50. Not bad when that doesn't include concessions.

UpSan Bobcat
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Member Since: 8/30/2005
Location: Upper Sandusky, OH
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RE: The Post on the CIT

Posted: 6/11/2014 12:06:40 PM

Yeah, something doesn't add up. Student tickets were free, so that accounts for a lot of that discrepancy, but there is no way 70 percent of attendees were students. In fact, the student crowds were quite small.

bornacatfan
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RE: The Post on the CIT

Posted: 6/11/2014 12:08:05 PM

Jim G wrote:

http://thepost.ohiou.edu/content/mens-basketball-ohios-ci...

You are right. Ohio has accounting as a major ....right? Seems like it is simple math from the outside eh?

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Ohio69
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RE: The Post on the CIT

Posted: 6/11/2014 12:56:53 PM

$78,000 is "substantial"?

Can somebody hit a pull up jumper for me?.....

Andrew Ruck
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Member Since: 12/22/2004
Location: Columbus, OH
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RE: The Post on the CIT

Posted: 6/11/2014 2:47:02 PM

I have to check with my colleague Slavin, but as a resident CPA, I conclude this definitely does not add up.

Andrew Ruck
B.B.A. 2003

Dexcat
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RE: The Post on the CIT

Posted: 6/11/2014 3:34:35 PM

Jim G wrote:

http://thepost.ohiou.edu/content/mens-basketball-ohios-ci...

My guess is this column goes with the many other columns that the general fee shouldn't be used for sports that the post has written over the years. In so that it twisted numbers or purposely left things out. The student crowds were much smaller, there is no way that 7000+ tickets were given away.

Also, there is no indication that there were any concessions or advertising revenue either. Was the overall endeavor a loss for OU, probably. Even at $78,000 for such a large school, it would probably go unnoticed, however, I feel that the loss (if there is one) is much smaller.

GoCats105
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Location: Seattle, WA
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RE: The Post on the CIT

Posted: 6/11/2014 4:04:06 PM

bornacatfan wrote:

Jim G wrote:

http://thepost.ohiou.edu/content/mens-basketball-ohios-ci...

You are right. Ohio has accounting as a major ....right? Seems like it is simple math from the outside eh?

I don't think Accounting 101 or 102 are required courses for Journalism majors. Could be wrong, but I doubt it.

BillyTheCat
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RE: The Post on the CIT

Posted: 6/11/2014 4:36:07 PM

Athletics fudging on announced attendance is noting new, so not sure where the surprise is. And apparently those numbers were from a FOI request, so one would consider the numbers to be factual. Opportunities such as this are investments, we hash this out all the time, what's the benefit for each extra game of having the OHIO Mark roll across the news ticker of ESPN?

Last Edited: 6/11/2014 4:39:57 PM by BillyTheCat

Bobcatbob
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Member Since: 12/21/2004
Location: Coolville, OH
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RE: The Post on the CIT

Posted: 6/11/2014 4:48:48 PM

Andrew Ruck wrote:

I have to check with my colleague Slavin, but as a resident CPA, I conclude this definitely does not add up.

Tsk. Tsk. Non-industry CPA's, perhaps, and why you are forgetting the principle tenet of management accounting. The first question is always: "What do you want it to be?".

Monroe Slavin
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RE: The Post on the CIT

Posted: 6/12/2014 12:47:34 AM

Info/context/definition lacks. Difficult to believe that only 1200 tix per game were sold. I couldn't attend but I think that I bought a ticket for each game.

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Kevin Finnegan
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RE: The Post on the CIT

Posted: 6/12/2014 10:23:37 AM

It's fun to play the 'What If' game with the CIT.

What if Ohio hadn't played in the CIT this year? Would a 23-11 record get Christian a new job? Would we ever hear about Jon Smith leaving the team disgruntled at the direction of the team?

What if Campbell doesn't hit the free throws against Cleveland State and push us on? Does 23-12 get him a new position? Do we keep our recruits?

What if Wright State finishes us out the following game instead of fading at the end? Does 24-12 sound as good to BC?

What if we completed the comeback against VMI instead of falling 92-90 after trailing by 12 with three minutes left? That game was on Wed, March 26th. The next game wasn't until April 1st, two days after Christian had his first interview with BC. If Ohio's still playing, does he interview? Does BC look elsewhere?

Without the CIT, it's likely Christian is still our coach, for better or worse. So if we're doing the accounting of the CIT, maybe it should include the Christian buyout,, because that was money the university earned through the tournament. Wasn't that something like $250,000? Pretty nice chunk of change. And going off what I've read, it sounds like we may have upgraded

Alan Swank
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Member Since: 12/11/2004
Location: Athens, OH
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RE: The Post on the CIT

Posted: 6/12/2014 11:11:12 AM

BillyTheCat wrote:

10 weeks to provide a response to an open records request is a very long time.

OhioStunter
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Member Since: 2/18/2005
Location: Chicago
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RE: The Post on the CIT

Posted: 6/12/2014 12:01:03 PM

finnOhio wrote:

Insightful line of thinking!

Mark Lembright '85
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Location: Highland Heights, OH
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RE: The Post on the CIT

Posted: 6/12/2014 12:23:11 PM

OhioStunter wrote:

finnOhio wrote:

Insightful line of thinking!

Agreed!! I want to say the buyout was something like $500,000, which Ohio used to hire Coach Phillips.

Which leads to another point-taking Finn's line of thinking even further, without the CIT, is Phillips, whom a significant amount of the board sees as a potential improvement over JC (myself included) our coach?

giacomo
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RE: The Post on the CIT

Posted: 6/12/2014 3:37:43 PM

I hardly think that that a few wins in an also ran tournament got him that job. It's like the menu item at a local German eatery: the best of the wurst.

perimeterpost
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RE: The Post on the CIT

Posted: 6/12/2014 7:23:51 PM

I guess you could also ask the same question about his hire at Ohio- did his advancement to the quarterfinals of the CBI his last season at TCU in any way effect Schaus's decision to hire him? I'm guessing probably not, and with BC's AD being from the MAC and the guy he hired to assist with the search knowing JC I doubt it made a difference for them either. But an interesting possibility though.

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The Optimist
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RE: The Post on the CIT

Posted: 6/12/2014 8:51:35 PM

From an educational standpoint, requiring that all students take Accounting 101 would be amazing. The concepts taught in that class are a great basis to develop your personal finance habits around as you move into the real world.

That said, hardest class I ever took. By far. Making that a requirement would create mass havoc.

I've seen crazier things happen.

Andrew Ruck
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Location: Columbus, OH
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RE: The Post on the CIT

Posted: 6/12/2014 10:56:45 PM

The Optimist wrote:

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

Andrew Ruck
B.B.A. 2003

catfan28
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Member Since: 6/11/2011
Location: Athens, OH
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RE: The Post on the CIT

Posted: 6/12/2014 11:03:59 PM

Does it really matter? Old news. JC is gone, we have Saul. I think most would agree we got the better part of that deal. Let's just move on here...

OU_Country
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Location: On the road between Athens and Madison County
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RE: The Post on the CIT

Posted: 6/13/2014 8:57:04 AM

Andrew Ruck wrote:

The Optimist wrote:

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

Agreed - personal finance to include understanding insurance for the consumer. Frankly, this is a class that should also be a required part of a college curriculum as well.

Ozcat
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Location: Gahanna, OH
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RE: The Post on the CIT

Posted: 6/13/2014 10:54:56 AM

Andrew Ruck wrote:

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

Yes.

OU_Country wrote:

Agreed - personal finance to include understanding insurance for the consumer. Frankly, this is a class that should also be a required part of a college curriculum as well.

Double yes.

I have clients with PHDs who don't understand basic finance. Then again, that's how I make a living so I can't complain too much.

GoCats105
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RE: The Post on the CIT

Posted: 6/13/2014 1:47:43 PM

The Optimist wrote:

Ditto. I actually took an Accounting class in high school and thought that I was going to be ok going into Accounting 101 in Copeland Hall. High school accounting was basically balancing a checkbook. Mwhahahahaha then you get to the real stuff at OU and then barely pass and have to explain to your parents why your GPA is so low.

Last Edited: 6/13/2014 1:48:06 PM by GoCats105

Pataskala
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RE: The Post on the CIT

Posted: 6/13/2014 1:58:21 PM

Andrew Ruck wrote:

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

It should at least be a requirement for all student athletes entering any professional sports draft. They might not need to handle their own finances but they should at least know the basics of personal finances so they'll know whether their agent/advisor is robbing them blind.

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JSF
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RE: The Post on the CIT

Posted: 6/13/2014 3:23:03 PM

Andrew Ruck wrote:

The Optimist wrote:

I don't know about requiring ACCT 101, but I have been saying for years that high schools should require a personal finance class. It would do wonders.

Because if there's a crowd willing and eager to learn financial responsibility, it's high schoolers.

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bornacatfan
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RE: The Post on the CIT

Posted: 6/13/2014 3:28:30 PM

JSF wrote:

Because if there's a crowd willing and eager to learn financial responsibility, it's high schoolers.

Oddly enough, the kids I have been interacting with the past 10 years seem to be increasingly more aware of personal finances and cost of things as well as better at making money decisions than the previous 2 decades. I am not sure if the economy and the increase in kids with jobs has anything to do with it or if the next generation's obsession with getting rich has anything to do with it but there is a fundamental change in how they handle and think about money.

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