Salford raids savings

Salford University chiefs are salvaging a tarnished commercial image by raiding money reserved for academic expenses like personal computers and foreign conferences to save a once-profitable university company which has plunged nearly Pounds 2 million into 바카라사이트 red.

Salford University Business Services Limited was founded in 1969 to raise non-governmental income and by 바카라사이트 early 1980s, when Salford was among 바카라사이트 most successful universities in developing closer links with industry, it was earning millions for pump priming a range of academic initiatives. But in 바카라사이트 past five years it has suffered substanial losses.

Vice chancellor Tom Husband blames 바카라사이트 "unwise" diversification of consultancy interests and unsuccessful joint ventures.

Last year 20 staff were made redundant and stake holdings in half 바카라사이트 joint venture companies were sold off. The university senate this week approved 바카라사이트 action of 바카라사이트 vice chancellor to make good 바카라사이트 remaining debt of Pounds 1.7 million by drawing on departmental and research institute discretionary reserves of Pounds 6.5 million. These comprise money from contract payments for professional services undertaken by individual academics. A university spokesman said: "It is very understandable that some academics feel a bit aggrieved."

Professor Husband said that to close 바카라사이트 company would have meant sacking 50 people and done "incalculable harm" to 바카라사이트 reputation of 바카라사이트 university.

jeffrey gettleman