Hillybilly Ford whiffed NIT

[OUHoosier]

All you really have to say is this is Kruger's first year in a dejected program, while Ford has had 5 years to turn OSU back around and things keep getting worse every season.

 

[tycat947]

Well, here's a topic to rib the cowgirls about! Losing $33M that they don't have to lose!!! Silly cowgirls!!!

http://newsok.com/osu-loses-bid-to-regain-millions-in-insurance-premiums/article/3657161


Oklahoma State University loses bid to regain millions in insurance premiums
A Texas judge has ruled that Oklahoma State University is not entitled to a refund of more than $33 million in insurance premiums it previously paid as part of a fundraising effort.

By JEFF LATZKE, The Associated Press | Published: March 13, 2012 10
STILLWATER — Oklahoma State University's unique fundraiser was expected to bring in hundreds of millions of dollars to fund school sports, based on the idea of purchasing $10 million life insurance policies on about two dozen boosters with the university as a beneficiary.


Article Gallery: Oklahoma State University loses bid to regain millions in insurance premiums
Instead, the so-called “Gift of a Lifetime” program created on the advice of T. Boone Pickens has ended with Oklahoma State having spent $33 million with nothing to show for it.
A federal judge has ruled against OSU's bid to get back the money it spent on premiums as part of the fundraising idea launched in 2007 with 27 boosters agreeing to have life insurance policies taken out that would pay the school when they died. Judge Jorge A. Solis in Dallas ruled Friday that Lincoln National Life Insurance Co. should keep the premiums it received from Oklahoma State as the first two yearly payments for the policies.
The university still has a state lawsuit pending in Payne County.
Oklahoma State claimed in court filings that it was told it could make as much as $350 million through the program. Instead, OSU disbanded the program about three years ago and then sued to try and regain premiums it had already paid.
The university argued that it had a right to cancel the policies and get its money back because Oklahoma law provides for a 10-day review window after policies are purchased and Lincoln did not provide actual copies of the policies until 2009.
However, athletic director Mike Holder signed policy delivery receipt forms two years earlier and didn't ask to see full copies from Lincoln, which had kept them.
Solis ruled that Holder technically had received the policies on behalf of Cowboy Athletics Inc., the private foundation run by OSU's athletic department.


Read more: http://newsok.com/oklahoma-state-un...urance-premiums/article/3657161#ixzz1p1DZTPuY

 

[oSuJeff97]

I am not sure how well OSU did in the prior two years but I am positive it has been subpar.

Last year was mediocre (NIT second round)

The year before was at least an NCAA tournament team. (First year post-James Anderson; lost to Georgia Tech in the first round.)

 

[SuperHoops]

Its actually fairly entertaining to see Stout get in a huff everytime someone randoms trolls OSU on here. Predictable but funny

Can you change his user name to Village Idiot? Sort of as a badge of honor to his trolling efforts.

 

[SilliSooner]

Well, here's a topic to rib the cowgirls about! Losing $33M that they don't have to lose!!! Silly cowgirls!!!

http://newsok.com/osu-loses-bid-to-regain-millions-in-insurance-premiums/article/3657161


Oklahoma State University loses bid to regain millions in insurance premiums
A Texas judge has ruled that Oklahoma State University is not entitled to a refund of more than $33 million in insurance premiums it previously paid as part of a fundraising effort.

By JEFF LATZKE, The Associated Press | Published: March 13, 2012 10
STILLWATER — Oklahoma State University's unique fundraiser was expected to bring in hundreds of millions of dollars to fund school sports, based on the idea of purchasing $10 million life insurance policies on about two dozen boosters with the university as a beneficiary.


Article Gallery: Oklahoma State University loses bid to regain millions in insurance premiums
Instead, the so-called “Gift of a Lifetime” program created on the advice of T. Boone Pickens has ended with Oklahoma State having spent $33 million with nothing to show for it.
A federal judge has ruled against OSU's bid to get back the money it spent on premiums as part of the fundraising idea launched in 2007 with 27 boosters agreeing to have life insurance policies taken out that would pay the school when they died. Judge Jorge A. Solis in Dallas ruled Friday that Lincoln National Life Insurance Co. should keep the premiums it received from Oklahoma State as the first two yearly payments for the policies.
The university still has a state lawsuit pending in Payne County.
Oklahoma State claimed in court filings that it was told it could make as much as $350 million through the program. Instead, OSU disbanded the program about three years ago and then sued to try and regain premiums it had already paid.
The university argued that it had a right to cancel the policies and get its money back because Oklahoma law provides for a 10-day review window after policies are purchased and Lincoln did not provide actual copies of the policies until 2009.
However, athletic director Mike Holder signed policy delivery receipt forms two years earlier and didn't ask to see full copies from Lincoln, which had kept them.
Solis ruled that Holder technically had received the policies on behalf of Cowboy Athletics Inc., the private foundation run by OSU's athletic department.


Read more: http://newsok.com/oklahoma-state-un...urance-premiums/article/3657161#ixzz1p1DZTPuY

This is a shame how this turned out.

It sounded like a decent bet. Only 10% of the policy holders need to DIE in order to break even. If 15 % DIE (5 people), you make 50 % on your bet or 17 Million.

I submit to you that wealthy OSU donors are spoil sports by hanging on when donors from other schools would have the good graces to kick the bucket in a timely fashion. It's almost as if the OSU elderly donors were healthy.

They must not eat at Eskimo Joes (or, at least, had the sense to stay away from there until the policy ran out.)

 

[tycat947]

This is a shame how this turned out.

It sounded like a decent bet. Only 10% of the policy holders need to DIE in order to break even. If 15 % DIE (5 people), you make 50 % on your bet or 17 Million.

I submit to you that wealthy OSU donors are spoil sports by hanging on when donors from other schools would have the good graces to kick the bucket in a timely fashion. It's almost as if the OSU elderly donors were healthy.

They must not eat at Eskimo Joes (or, at least, had the sense to stay away from there until the policy ran out.)

:ez-roll::ez-roll::ez-roll:

 

[stoops4pres]

Last year was mediocre (NIT second round)

The year before was at least an NCAA tournament team. (First year post-James Anderson; lost to Georgia Tech in the first round.)

The year OSU lost to Georgia Tech in the first round was James Anderson's last year. The first year of the post-Anderson era was last season, when OSU went to the NIT.

 

[Mr.B!!!]

That insurance thing was quite possibly the most stupid and morbid thing I'd ever heard of and I said so at the time...yep, you're going to beat the insurance companies at their own game consistently, brilliant.

 

[oSuJeff97]

The year OSU lost to Georgia Tech in the first round was James Anderson's last year. The first year of the post-Anderson era was last season, when OSU went to the NIT.

Derp.

You're right.

Stupid brain.

 

[stoops4pres]

Derp.

You're right.

Stupid brain.

Haha, it happens. I think watching both Bedlam teams this season has lowered my intelligence as well.

 

[campbest]

Haha, it happens. I think watching both Bedlam teams this season has lowered my intelligence as well.

No, it's probably from doing your grad work at Ole Miss.

 

[stoops4pres]

No, it's probably from doing your grad work at Ole Miss.

Haterz Gonna' Hate.