For Pro Athletes, Business School Is No Game

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City of Industry, CA --(www.USEquityNews.com)-- 07/01/2009 - Retirement industry alert provided by U.S. Equity News. In some ways, they're perfect MBA candidates: They know all about dedication, they've had plenty of experience in leadership, and when it comes to teamwork, they're literally pros.


Yet few professional athletes, some of whom make millions of dollars before hitting 25, actually get MBAs. In fact, financial education appears to be far from most players' minds. Three years into retirement, many ex-football and basketball pros are not only unschooled in ROI ratios -- they're flat broke. And Olympians don't do much better. Anecdotal evidence abounds about athletes turning to high-school coaching or struggling with unemployment.

For most people who get an MBA, knowing the rules of business represents the difference between a fat paycheck and a fatter paycheck. For the handful of athletes who make it to campus, even those with millions to their name, business education could mean the difference between remaining a millionaire and going broke. [Read the full article]

HONOLULU (AP) -- University of Hawaii President David McClain says he will seek faculty and administrative pay cuts to help deal with budget cuts totaling $155 million over two years.

McClain briefed members of the state House and Senate committees on higher education on Tuesday.

He says the university continues to negotiate a new contract with representatives of the faculty union. The contract covering members of the University of Hawaii Professional Assembly expired Tuesday.

McClain said furloughs could be considered, but only after legal challenges to Gov. Linda Lingle's furlough plans for other state workers have been settled.

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.

Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. [Read the full article]

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