James R. Ramsey
James R. Ramsey (born November 14, 1948) is the former president of the University of Louisville, located in Louisville, Kentucky, and the former president of the closely related University of Louisville Foundation. He was president from 2002 until 2016 and helped turn Louisville from a commuter school to a more campus-oriented university with a strong focus on research. In 2016, he was asked to step down after a number of scandals, but remained president of the foundation.[1]
James R. Ramsey | |
|---|---|
 Ramsey in 2015 | |
| 17th President of the University of Louisville | |
| In office November 4, 2002 – June 17, 2016 | |
| Preceded by | John W. Shumaker |
| Succeeded by | Neeli Bendapudi |
| Personal details | |
| Born | November 14, 1948 |
| Residence(s) | Jeffersontown, Kentucky, U.S. |
| Alma mater | Western Kentucky University (BBA) University of Kentucky (MA, PhD) |
| Profession | Academic administrator |
Career
Ramsey earned a Bachelor of Science degree in Business Administration from Western Kentucky University in 1970, and a Master of Arts and Ph.D. in Economics from the University of Kentucky in 1972 and 1974, respectively.[2]
Ramsey twice was Kentucky's budget director under Democratic Governor Paul Patton from 1995 to 1998[3] and again from 1999 to 2002[4] and worked as the state government's chief economist. He has also directed Kentucky's Office of Financial Management, been the state's chief Economic Analyst, and worked in the Office of Investment and Debt Management. He also worked as interim commissioner of Kentucky's Office of the New Economy.
Ramsey was an economics professor at five other universities: the University of North Carolina at Chapel Hill, Loyola University, the University of Kentucky, Western Kentucky University, and Middle Tennessee State University.
President of the University of Louisville
Ramsey was appointed president at Louisville in 2002, and assisted in remaking the university, turning it from a commuter school to a more campus-oriented school, and focusing more on research: "Under Ramsey, U of L has filed for more patents, seen its endowment grow and joined the Atlantic Coast Conference. It also moved to invest in and develop real estate as a way to offset stagnant state funding", according to Kate Howard from Louisville Public Media.[1]
The last several years of Ramsey's tenure as president of the university were marked with "numerous scandals", including an escort sex scandal involving basketball playing recruits between 2010 and 2014 that led to a postseason playing ban for the 2015–16 season, a gaffe involving him and his staff dressing up as stereotypical Mexicans for a Halloween party, and his holding dual roles as both president of the university and president of the university's charitable foundation.[5]
Costume controversy
In October 2015, Ramsey and his wife hosted a Halloween luncheon at the university presidents' mansion, at which he and his staff dressed as stereotypical Mexicans, wearing sombreros and large fake mustaches.[6][7][8] Ramsey and his Chief of Staff later apologized after this was criticized as being culturally insensitive.[6][7][8]
Fund mismanagement controversy
Ramsey is accused of mismanaging over $55M in University Foundation funds. He was sued by the institution. The suit says the defendants knowingly caused the foundation to spend endowment funds at an excessive rate and that they took endowment money that should have been invested and diverted it to speculative ventures, loans, and gifts that had little realistic chance of repayment. In July 2021, the university who had previously sought $80 million in damages from Ramsey, settled for only $800,000.[9]
It also alleges that "while engaged in this disloyal conduct, Ramsey and Smith paid themselves (and others) excessive compensation out of the foundation."
The university outside counsel, Andrew Campbell, managing partner of the Birmingham, Ala., firm Campbell Guin, said the evidence "clearly establishes a pattern of mismanagement in appropriated expenditures and unauthorized acts...mainly through the direction and planning of" Ramsey and Smith."
Dual role as president of the University of Louisville Foundation
Ramsey received criticism for holding the position of president of the University of Louisville while also being the president of the University of Louisville Foundation, a $1.1 billion fund-raising entity associated with the university.[5][10] He received $2.8 million in compensation from the Foundation in 2014.[5] The relationship between the university and the foundation has been under investigation by the Kentucky State Auditor Mike Harmon.[5]
References
- Howard, Kate (July 27, 2016). "Ramsey Out As U of L President; Gets $690,000 Settlement". WFPL. Retrieved June 29, 2016..
- Ramsey, James R. "Resume". University of Louisville. Archived from the original on January 4, 2014. Retrieved January 4, 2014.
- http://governors.e-archives.ky.gov/_govpatton/search/pressreleases/1999/rmsyrtrn.htm
- http://governors.e-archives.ky.gov/_govpatton/search/pressreleases/2002/lassiterbudget.htm
- Barton, Ryland (June 17, 2016). "U of L President James Ramsey To Step Down". WFPL. Retrieved June 17, 2016.
- Krauth, Olivia (October 29, 2015). "What, what, what are you wearing?: Ramsey goes racist". The Louisville Cardinal.
- Brown, Joey (October 30, 2015). "Ramsey Issues Personal Apology for Stereotypical Mexican Costumes". WAVE.
- Taylor, Sarah Grace (November 2, 2015). "U. of Louisville president: Sorry for 'pain' caused by photo of him, staff in Mexican costumes". USA Today.
- Whitford, Emma (August 4, 2021). "University of Louisville Settles Lawsuit With Former President". Inside Higher Ed. Retrieved August 5, 2021.
- George, Stephen (March 1, 2016). "State Auditor: Up To $125,000 Tab For U of L Review". WFPL. Retrieved June 18, 2016.
External links
