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New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

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Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

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Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

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Fort Worth firm 'simplifies' advertising

Reaching customers requires more than price slashing and flashy ads. In today’s competitive marketplace, machines – not men and women – are essential to tapping new markets and

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More private college presidents earning over $1 million

Top 5 in Texas

1. David W. Leebron
Rice University
Total compensation - $1,178,221
2. R. Gerald Turner
Southern Methodist University
Total compensation - $982,094
3. Victor J. Boschini Jr.
Texas Christian University
Total compensation - $876,924
4. Gary R. Cook
Dallas Baptist University
Total compensation - $763,944
5. Louis J. Agnese Jr.
University of the Incarnate Word
Total compensation $708,664

For more information: 

chronicle.com/section/Home/5/

Blake Ellis

NEW YORK (CNNMoney) -- As the dream of college remains unaffordable for many students and leaves others in mountains of debt, a growing number of private-college presidents are taking home more than $1 million a year.

A record 42 private college presidents saw their earnings top $1 million in 2011, according to a report released Sunday by the Chronicle of Higher Education. This is up from 36 presidents whose compensation topped $1 million in 2010. The data is based on the most recent tax filings available from the 500 private colleges with the biggest endowments.

The median total compensation, which includes salary, deferred compensation and other one-time payments, came in at $410,523, which is up from 3.2% from 2010.

University of Chicago president Robert Zimmer was the highest-paid president -- raking in $3.4 million. His base salary was $918,00, but much of his pay package came from deferred compensation.

Deferred compensation is tax-deferred money set aside until a specified date, and a growing number of universities use these packages to retain top talent.

Coming in at Number 2 was Joseph Aoun of Northeastern University, who was granted a $2 million retirement benefit that won't be disbursed until he leaves the university. Excluding that money, his compensation was a little more than $1 million.

Dennis Murray, who has been president of Marist College for 35 years, was third on the list. The majority of his compensation came from a one-time payment of $2 million from a deferred retirement plan that had been set up in 2001. It was supposed to come due the year he retired, which he had expected to be 2011. But he decided not to leave, so he received that money while still president.

Other presidents in the highest-paid club include Lee Bollinger of Columbia University, who helped the school avoid budget cuts with the most successful fundraising campaign in its history; and former Tufts president Lawrence Bacow, whose compensation included a one-time lump-sum payment of $1.7 million upon his departure.

Among public schools, only four presidents earned compensation exceeding $1 million in 2012. Graham Spanier, the former head of Pennsylvania State University, topped the list at $2.9 million. The median pay packages of public school presidents are slightly higher than private schools, at $441,392.

These multimillion-dollar presidential pay packages continue to be doled out despite how unaffordable college has become for many Americans. Student loan debt now exceeds $1 trillion, and the average college graduate owes more than $29,000 in student loans.

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