Despite $1B debt, UC still giving bonuses

January 21, 2011 9:58:29 PM PST
UC president Mark Yudoff says the system is a $1 billion in debt, but that apparantly isn't preventing employees from receiving big raises and bonuses.

Regents gave out rewards to nearly 1,500 UCSF employees. Regents also gave ten percent raises of more than $20,000 a year to three executives in Oakland.

A UC spokesman defended the rewards, saying not all of the money comes from taxpayers, and that the incentives are needed to retain talented employees, but critics say the rewards show the UC system has its priorities wrong.