UT Research Park Complex Developments

[ihop]

http://www.garnetcoleman.com/blog/2009/05/...egislation.html

"(It

[Urbannizer]

More renderings, WHR is the architect.

http://www.whrarchitects.com/fw/main/Detai...D=&CntID=13

[LTAWACS]

Not bad.

[lockmat]

news:

http://www.chron.com/disp/story.mpl/headli...ro/6477670.html

[Urbannizer]

This is the final design change.

Link

[LTAWACS]

Sorry I missed it but where is this building located?

[Urbannizer]

Sorry I missed it but where is this building located?

It will be located in the UT Research Park currently under construction in the south part of TMC south of Old Spanish Trail near Cambridge Street.

[RWB]

There is one new development in the Rice-BCM merger--an interim report by the Faculty Merger Review Committee. It's interim because the negotiations have been so secret, that the faculty committee is still in the dark on some things and not permitted to report on others. Thier main concern is the imbalance--BCM is much larger than Rice, and has much larger operating costs. (More details here.)

One faculty member, Moshe Vardi, gave a public lecture on the merger that was very much against it. He based his conclusion on publicly available information, including some very damning financial numbers from Baylor (and not so great financials from Rice--who knew Rice was carrying debt? Not me, and I am an alum.) You can read about his lecture here.

Some will automatically dismiss faculty concerns as whining, but the facts about Baylor's serious financial problems are true and would be inherited by Rice if the merger occurred, and frankly, the administrations of the two schools have been talking in secret for over a year now, and this lack of transparency is very worrying. And anyone who has driven around Rice in the last few years knows that President Leebron is an empire builder, but in this financial climate, perhaps what we need is a consolidator, someone who can hunker down and get Rice back on a solid footing.

In any case, as an alumnus, I am disturbed at the vast silence from the administration on this matter. All I ever hear from them are endless requests for more money.

[sidegate]

There is one new development in the Rice-BCM merger--an interim report by the Faculty Merger Review Committee. It's interim because the negotiations have been so secret, that the faculty committee is still in the dark on some things and not permitted to report on others. Thier main concern is the imbalance--BCM is much larger than Rice, and has much larger operating costs. (More details here.)

One faculty member, Moshe Vardi, gave a public lecture on the merger that was very much against it. He based his conclusion on publicly available information, including some very damning financial numbers from Baylor (and not so great financials from Rice--who knew Rice was carrying debt? Not me, and I am an alum.) You can read about his lecture here.

Some will automatically dismiss faculty concerns as whining, but the facts about Baylor's serious financial problems are true and would be inherited by Rice if the merger occurred, and frankly, the administrations of the two schools have been talking in secret for over a year now, and this lack of transparency is very worrying. And anyone who has driven around Rice in the last few years knows that President Leebron is an empire builder, but in this financial climate, perhaps what we need is a consolidator, someone who can hunker down and get Rice back on a solid footing.

In any case, as an alumnus, I am disturbed at the vast silence from the administration on this matter. All I ever hear from them are endless requests for more money.

Academics are conservative by nature. Add to that the fact that this is a conservative school in the South (which makes it pretty conservative), and I'm not in the least bit surprised Rice faculty aren't turning cartwheels over this initiative. It's progressive. It's bold. It breaks the mold. Everything that conservatives aren't/don't do. The reason for the silence is that if you enjoined the faculty on either side in this, you'd never get a thing done. This is for the administrators to handle, that's what they get paid for. It'll happen whether the faculty approve it or not (I doubt many will resign over it) so everyone needs to just grab an oar and make it work.

[mkultra25]

Academics are conservative by nature. Add to that the fact that this is a conservative school in the South (which makes it pretty conservative), and I'm not in the least bit surprised Rice faculty aren't turning cartwheels over this initiative. It's progressive. It's bold. It breaks the mold. Everything that conservatives aren't/don't do. The reason for the silence is that if you enjoined the faculty on either side in this, you'd never get a thing done. This is for the administrators to handle, that's what they get paid for. It'll happen whether the faculty approve it or not (I doubt many will resign over it) so everyone needs to just grab an oar and make it work.

Did you even read any of Vardi's presentation? University administrators get paid to safeguard and grow the university's endowment, not to act like they're in the M&A division of an oil company and enter into ill-advised deals that entail assuming large amounts of debt in a down economy. I'm a Rice alum, and I have yet to talk to a single person among my fellow alumni who thinks this deal is a good idea.

But I guess it's easier to spout a bunch of ill-informed bizspeak than it is to examine the details of the proposed deal on its merits (or lack thereof).

[sidegate]

Like I said, it matters little what you, I, the alumni on either side or anyone else thinks. If being ill informed is working for a departmental head at one of the institutions involved who is on a joint academic committee overseeing the merger then I guess I am. My apologies. It's going ahead, so let's all make the best of it.

[RWB]

Like I said, it matters little what you, I, the alumni on either side or anyone else thinks. If being ill informed is working for a departmental head at one of the institutions involved who is on a joint academic committee overseeing the merger then I guess I am. My apologies. It's going ahead, so let's all make the best of it.

I think the objection to your post was that it was entirely ad hominem, and that it did not address either the primary concern brought up by the Faculty Review Merger Committee (the imbalance in the size and operating costs of the two institutions) or the well-documented financial concern of Dr. Vardi (that Rice, which is already carrying a debt load and a reduced endowment, would be taking on a huge debt load by buying Baylor--so much so that the school would be imperiled). Vardi offered up plentiful documentary evidence, which you have ignored.

The reason for the silence is that if you enjoined the faculty on either side in this, you'd never get a thing done.

The administration has been working in secret on this for more than a year with nothing to show for it--all while BCM has been sinking closer and closer to insolvency. Is it really so shocking that the faculty and alumni (whose money Rice has been begging for with unusual ferocity for the past year) are starting to ask questions? I don't want Rice to become the next Upsala College or Barrington College. This is perhaps the biggest decision for Rice in its history, and the silence has been deafening.

[Fringe]

Like I said, it matters little what you, I, the alumni on either side or anyone else thinks. If being ill informed is working for a departmental head at one of the institutions involved who is on a joint academic committee overseeing the merger then I guess I am. My apologies. It's going ahead, so let's all make the best of it.

Personally I don't think it's going to happen. A year ago I thought it might but I will be very surprised now if it does. Rice is already in over their heads with the BRC. It's draining their endowment and will continue to do so for a long time. They have enough to worry about with out taking on BCM's problems. 

[marmer]

I've heard some things from some fairly well-placed and credible sources. I can't really say more than that, so trust me or not.

1. There is significant concern among the Rice faculty, not only about the financial impact, but also on the cultural impact. There would be a huge increase in faculty numbers. Dr. Vardi is one of the most outspoken, but many of his colleagues are very concerned.

2. Having said that, there is a strong feeling that Rice has little to no choice about going forward, for three reasons:

a.) most if not all of the institutions that Rice considers as its peers have a medical school and the concern is that a generation or so down the road Rice will lose significant ground and become a second-or-third-rate institution without one.

b.) the handwriting seems quite clearly on the wall that governmental and corporate scientific granting will become increasingly bioscience based, with strong emphasis on medical applications.

c.) If Baylor Med fails it will be a big loss for the community. Rice doesn't want to be in the political position of being seen as the institution that _could_ have saved Baylor and didn't. There is a real concern that this will happen even if the merger falls apart for reasons that Rice can't really control.

[RWB]

There was a very good editorial about the Rice-BCM merger in the Chronicleyesterday. It completely avoided such fuzzy pollyanna words as "synergy" and "prestige" and looked instead at BCM's finances.

The proposed merger is actually an acquisition by Rice University. BCM is on shaky financial footing and its current situation is not financially tenable (see publicly available financial documents at http://www.bcm.edu/oor/ and http://www.dacbond.com). Over the past six-year period from 2004 to 2009, BCM’s operating expenses have exceeded its revenues by more than $300 million; the largest annual loss ($72 million) was incurred in the most recent fiscal year, ending June 30, 2009. Meanwhile, its debt has ballooned eightfold, to more than $850 million, an amount exceeding its endowment.

The editorial then examined all of BCM's sources of income and discussed the level of risk or volatility associated with each.

About half of the $1 billion-plus budget comes from hospital contracts and medical services, that is, from fees collected from insurance companies, Medicare, Medicaid and others, to provide medical treatment to patients. Another third comes from grants and contracts to perform biomedical research; most of these funds are from the National Institutes of Health (NIH). The rest comes from a variety of sources, including an annual payment from the state of Texas that currently amounts to $50 million, return on the endowment that is around $60 million, and philanthropy, which varies in the range of $20 million to $40 million annually. The problem, as we see it, is that these revenue sources are fundamentally unpredictable. The health care reform bills currently under consideration by Congress may result in significant changes to health care receipts. In these trying times, will the federal government continue to fund the NIH at its current rate? Will the state of Texas be able to afford BCM’s subsidy in the future? No one knows the answers to these questions with certainty.

But Rice is pretty rich, right? So Rice should be able to fill in for any BCM shortfall. Not so fast.

What is certain, however, is that Rice cannot afford to support BCM as is, and will certainly be unable to do so if there is a significant decline in any of these revenue sources. Rice derives approximately half of its operating budget from earnings on its endowment. Because of the recent financial crisis, Rice has seen its operating budget reduced by 5 percent in each of the past two years. While the magnitude of the cuts is small in comparison to BCM’s operating deficits, the cuts are deeply felt at Rice. Departmental budgets have been cut to the bone, and most seriously for the longer term, faculty positions open due to retirement and normal attrition are going unfilled, with potentially severe impact on the quality, or even the viability, of academic programs.

They conclude with a statement that perfectly echoes my own fears.

We aspire to stand among the world’s greatest universities. Can this vision be attained more quickly by diverting our course and merging with BCM, or will Rice simply become a medical school with a small, and possibly impoverished, university attached? Nobody knows for sure, but we firmly believe that merging poses an unacceptable risk to Rice University.

I am not a faculty member nor a staff member of Rice University--just a concerned alumnus. I am very happy to see someone actually looking at the numbers for a change instead of speaking in abstractions. Mergers in the business world often destroy shareholder value--but they certainly build up the egos of CEO and attract lots of adoring press reports. I think Rice+BCM is starting to look like AOL+TimeWarner.

Edited November 30, 2009 by RWB

[sidegate]

LOL, I was waiting for this post. There was an op-ed piece three weeks ago (which I guess you missed, or at least muttered sulkily as you read it) in which three BIOMEDICAL faculty (not four Arts faculty), and one arts for that matter, supported the merger. Oh and Rice's President too, forgot about him. Apparently four years at Rice has taught you just to see what you want to see and hear what you want to hear. Seems like a waste of money to me.

You'll note how I didn't lurch on to HAIF when that editorial was published, as you have done with this one, because I know that everyone's mind is pretty much made up on this merger, yours and mine included, and in doing so I would have achieved little beyond burdening the Internet with more pointless bytes of information. As you have done.

Edited December 1, 2009 by sidegate

[Porchman]

Rice needs to step off. In merging or even affiliating with BCM, they would be stepping into managed care. In an environment where that may mean something very different in the next few years, their governance does not need to enter into that picture.

The best partner for BCM is TMH. Go figure! They, SLEH, and TCH need to discuss merger. The combined institution would rival The Mayo Clinic and Cleveland Clinic. (Imagine Houston could have the same medical prestige of Rochester, Minnesota and Cleveland, Ohio!) Hubris needs to be set aside.

[Robert W. Boyd]

LOL, I was waiting for this post. There was an op-ed piece three weeks ago (which I guess you missed, or at least muttered sulkily as you read it) in which three BIOMEDICAL faculty (not four Arts faculty), and one arts for that matter, supported the merger. Oh and Rice's President too, forgot about him. Apparently four years at Rice has taught you just to see what you want to see and hear what you want to hear. Seems like a waste of money to me.

You'll note how I didn't lurch on to HAIF when that editorial was published, as you have done with this one, because I know that everyone's mind is pretty much made up on this merger, yours and mine included, and in doing so I would have achieved little beyond burdening the Internet with more pointless bytes of information. As you have done.

Actually, I have a BA and an MBA from Rice, so it's more like 6 years--not that it's relevant. I did see the earlier editorial you mention--I thought it added nothing to the debate. It was a rehashing of the synergies argument with no evidence to back up the claims. As for knowing that "everyone's mind is pretty much made up" on this merger, mine wasn't. When the merger talks were announced last year, I was in favor of it (based on what I knew at the time). Over the course of the past year, as BCM's financial problems have been publicly revealed and have worsened, I have changed my mind. I am basing my opinion on observable facts (you can look at both Rice's and BCM's financial statements on line, and BCM's deteriorating credit rating has been reported by Bloomberg). Unlike you, I am not forming an opinion based on the messenger. (By the way, three of the faculty members who signed that editorial came from science and engineering disciplines--not that I think that matters.) Furthermore, I am still willing to change my mind. If someone from the pro-merger side will explain why my concerns over BCM's finances are unwarranted, I will listen. Believe me when I say that I have been waiting for someone to deal with this issue for a while now--but all I hear are more talk about "synergy" and "prestige" and Rice's duty to prop up an important Houston institution, BCM.

I have not forgotten Rice president Leebron. On the contrary, I think he is an empire builder who is willing to take excessive risks in exchange for growing Rice. This is demonstrated by his huge construction programs on campus, and especially by the Bioscience Collaborative Research facility. This facility was paid for with debt (an approach I strongly disapprove of) and was intended to be the platform for increased collaborative research with other TMC institutions--indeed, it was meant to obviate the need for a medical school. One can agree with his growth strategy or not. I think Leebron is acting recklessly, as so many corporate CEOs have done in the past.

Maybe my publicizing this information won't change anyone's mind. If so, the only time I wasted was my own. I'm sure the internet can handle the "burden"--it seems pretty robust in that regard. But when other people started pointing out BCM's problems, it awakened doubts in my mind. My mind was changed on this issue by new information. Perhaps not everyone's mind is made up, as you claim.

Edited December 1, 2009 by Robert W. Boyd

[Fringe]

Actually, I have a BA and an MBA from Rice, so it's more like 6 years--not that it's relevant. I did see the earlier editorial you mention--I thought it added nothing to the debate. It was a rehashing of the synergies argument with no evidence to back up the claims. As for knowing that "everyone's mind is pretty much made up" on this merger, mine wasn't. When the merger talks were announced last year, I was in favor of it (based on what I knew at the time). Over the course of the past year, as BCM's financial problems have been publicly revealed and have worsened, I have changed my mind. I am basing my opinion on observable facts (you can look at both Rice's and BCM's financial statements on line, and BCM's deteriorating credit rating has been reported by Bloomberg). Unlike you, I am not forming an opinion based on the messenger. (By the way, three of the faculty members who signed that editorial came from science and engineering disciplines--not that I think that matters.) Furthermore, I am still willing to change my mind. If someone from the pro-merger side will explain why my concerns over BCM's finances are unwarranted, I will listen. Believe me when I say that I have been waiting for someone to deal with this issue for a while now--but all I hear are more talk about "synergy" and "prestige" and Rice's duty to prop up an important Houston institution, BCM.

I have not forgotten Rice president Leebron. On the contrary, I think he is an empire builder who is willing to take excessive risks in exchange for growing Rice. This is demonstrated by his huge construction programs on campus, and especially by the Bioscience Collaborative Research facility. This facility was paid for with debt (an approach I strongly disapprove of) and was intended to be the platform for increased collaborative research with other TMC institutions--indeed, it was meant to obviate the need for a medical school. One can agree with his growth strategy or not. I think Leebron is acting recklessly, as so many corporate CEOs have done in the past.

Maybe my publicizing this information won't change anyone's mind. If so, the only time I wasted was my own. I'm sure the internet can handle the "burden"--it seems pretty robust in that regard. But when other people started pointing out BCM's problems, it awakened doubts in my mind. My mind was changed on this issue by new information. Perhaps not everyone's mind is made up, as you claim.

I couldn't agree with you more. When the merge was first proposed I thought it was a great idea, but not so much any more.  The BRC is already proving to be a financial drain and will continue to do so until Rice can attract other research tenants.  Rice needs to worry about what they already have in place, not taking on high risks like this merger. 

Leebron has great vision and has done a lot for Rice but he may be leading them into financial doom with this merger. Time to think about Rice’s future instead of his own legacy. He was reluctant to take the position to begin with and is not going to be around forever but hopefully the institute will. 

Edited December 1, 2009 by LunaticFringe

[Jax]

Rice sent out an email today that had this link with info about the potential merger.

http://staff.rice.edu/staff/RiceBaylor_Home.asp

[sevfiv]

It was updated today:

"We are writing to inform you that Baylor College of Medicine and Rice University have ended our discussions about a possible merger of our two institutions. At the same time, both institutions have agreed to develop further our existing academic and research relationship, which has grown significantly over the years."

[Fringe]

I figured as much. 

January 12, 2010

To: The Rice University and Baylor College of Medicine communities

From: Presidents David Leebron and William Butler

We are writing to inform you that Baylor College of Medicine and Rice University have ended our discussions about a possible merger of our two institutions. At the same time, both institutions have agreed to develop further our existing academic and research relationship, which has grown significantly over the years.

Since we signed a memorandum of understanding in March of 2009, we have been in extensive discussions in an attempt to meet several conditions that both institutions considered to be essential for a successful merger. We joined in a thorough and deliberate process that explored the many benefits and challenges a merger would entail. With the MOU due to expire this month, the leadership of both institutions decided it is in the best interests of both BCM and Rice University to strengthen the existing relationship without a formal merger.

The months of discussion have provided a great deal of information that we will use to build on existing joint programs, such as in neuroscience and global health initiatives, and to create new ones that will best serve both institutions. A report prepared by a joint committee of faculty members from each institution identified many possibilities for collaboration that will be considered in the coming months.

We want to thank our administrative and faculty teams for their hard and creative work over the past year. Our respect for each other increased daily as we grew to know each other and each other's work better. We learned that we share similar missions and a commitment to the highest standards of education, research and community service. So, while we are bringing the merger discussions to a close, we are opening a new chapter of collaboration that will advance the field of biomedicine and improve human health.

David W. Leebron William T. Butler

President Interim President

Rice University Baylor College of Medicine

[Robert W. Boyd]

The Chron doesn't have much yet:

Baylor College of Medicine and Rice University have ended 15 months of negotiations aimed at merging the two elite Houston schools. In a joint statement sent to faculty staffs and students today, Rice President David Leebron and Baylor President Dr. William Butler gave no reason for the collapse of the talks. Just four months ago, they hinted a deal might be in place by the end of this month.

I wonder what this means for Leebron.

[KinkaidAlum]

I truly hope there isn't a takeover by Baylor U up in Waco. There's absolutely NO WAY Baylor Med will be able to attract some of the best and brightest if they are affiliated with a Southern Baptist institution that considers creationism a science. Would a Baylor U run med school even apply for stem cell grants? It's a scary proposition.

[Porchman]

From

The Chronicle of Higher Education

Word that Baylor College of Medicine is pursuing a closer affiliation with the Baptist university it separated from 40 years ago has prompted protests from medical students, faculty members, and alumni of the medical school, in Houston. More than 400 people have signed an online petition criticizing the move.

The

petition

was posted online after Rice University and Baylor College of Medicine

ended their discussions

of a possible merger last week and rumors began circulating that the financially troubled medical school might merge with Baylor University instead.

Edited January 20, 2010 by Porchman

[AtticaFlinch]

I truly hope there isn't a takeover by Baylor U up in Waco. There's absolutely NO WAY Baylor Med will be able to attract some of the best and brightest if they are affiliated with a Southern Baptist institution that considers creationism a science. Would a Baylor U run med school even apply for stem cell grants? It's a scary proposition.

Who needs doctors anyhow? This guy can heal just about everything with a prayer and a laying of hands.

Edited January 20, 2010 by AtticaFlinch

[Robert W. Boyd]

I spoke with a professor at Rice who was sort of in a position to know what happened, and he gave me his version of the story of the failure of the Rice-BCM talks and the part in that failure played by Baylor University (a BIG part).

At the risk of seeming like a complete blog whore, I'm going to link to my blog post about it.

In short, it looks like Baylor U. played a sneaky and decidedly unchristian waiting game, letting Rice do a lot of heavy lifting and then musciling them aside once the bucks were all lined up.

[Fringe]

I spoke with a professor at Rice who was sort of in a position to know what happened, and he gave me his version of the story of the failure of the Rice-BCM talks and the part in that failure played by Baylor University (a BIG part).

At the risk of seeming like a complete blog whore, I'm going to link to my blog post about it.

In short, it looks like Baylor U. played a sneaky and decidedly unchristian waiting game, letting Rice do a lot of heavy lifting and then musciling them aside once the bucks were all lined up.

Very interesting indeed. Rice will survive fine without them but it will be interesting to see what path BCM goes down.  They don't seem capable of making wise decisions. 

[KinkaidAlum]

My ex is a 4th year med student at Boston U. Two of his classmates have cancelled their interviews at Baylor regarding residency due to the potential merger with Baylor University. This would have TERRIBLE consequences for Baylor Med, the TMC, and Houston. I am inclined to say we all need to pray against this takeover!

Edited January 23, 2010 by KinkaidAlum

[Robert W. Boyd]

According to the Chron, BCM has decided to go it alone. (For now.)

If it was Baylor U. that killed the deal with Rice (which is what I have heard), BCM may have had pretty bad feelings towards Baylor, to say the least. BCM also had to wonder what Baylor was bringing to the table. Anything?

While I have nothing at all against Baylor U and have known many people over the years who attended or were alums of that school, it seems Baylor acted pretty poorly in this matter, and as a result are ending up with nothing.