Friday, April 3, 2020

How Much Cash Do You Have?

D3Playbook
APRIL 3, 2020 | written by STEVE ULRICH
your must-read briefing on what's driving the day in NCAA Division III

Our goal is to keep you - the influencers in DIII athletics - apprised of what's happening around Division III - the games, polls, news, happenings, awards, calendar of events, and much more. We hope you enjoy d3Playbook and that you'll share this with your friends, colleagues and co-workers.
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>> Today's Word Count: 1,018. Smart, concise. An informative read that's just over 5 minutes.

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1. How Much Cash Do You Have?


by Dan Bauman, Chronicle of Higher Education
"Worst-case scenario, $2.8 million.

That’s about how large an operating loss Trinity University in Texas is contemplating at the end of this fiscal year as a result of the coronavirus pandemic.

Six months ago, no one could have forecast the extraordinary financial stress academe would be under at this moment — with housing refunds to deliver, a recession likely to be underway, and the frightful prospect that students may not be able to return to campus in the fall.

But, for the moment, Trinity may be better positioned than many institutions in the short term to weather the outbreak’s fallout. In a letter to bondholders this month, the university disclosed that its “rainy day” funds — accounts holding unrestricted, readily available cash and other liquid assets — contain approximately $26 million.

It’s that kind of liquidity that private universities and colleges across the country will need to continue operations, as the nation struggles to get the virus under control."

>> Situational Awareness: "Summer is coming. Institutions traditionally rely on revenue from events like camps, conferences, and community programs to support some level of operations in the summer months. But this year, officials need to assume those revenue streams will evaporate."

>> Number Crunching: "The Chronicle combed through publicly available documents from the two ratings agencies to survey how expendable resources might fare against standard operating expenses over a prolonged period of time."
  • “Monthly Days Cash on Hand" reflects the estimate by Moody’s of the number of days it believes an institution will be able to cover cash operating expenses from monthly liquidity.
Birmingham-Southern - 13
Marymount - 157
Hanover - 164
Clarkson - 171
Middlebury - 177
Case Western Reserve - 186
Webster - 280
Kalamazoo - 446
Gettysburg - 463
Skidmore - 613
  • Standard & Poor’s uses a different metric — an expendable-resources-to-operations ratio — to determine if an institution is carrying sufficient and flexible resources. The ratio reflects retained wealth available to cover operating expenses. Generally, a ratio of 0.4 represents approximately 140 days, or one semester of operating expenses.
NYU - 0.263
Wilkes - 0.300
Gallaudet - 0.341
Sarah Lawrence - 0.357
Stevens - 0.518
Moravian - 0.543
McDaniel - 0.620
Case Western - 0.856
Allegheny - 1.138
Middlebury - 2.003
Grinnell - 10.817

>> The Key Stat: March has seen at least four private, nonprofit institutions draw upon or seek the availability of lines of credit. On March 10, Alvernia University established a $15-million line of credit. And on March 23 the investment bank JPMorgan Chase provided Ursinus College with a $5-million line of credit.

>> What They're Saying: "Relying on credit is appealing, especially — though not exclusively — in a time of crisis. “I’d much rather borrow against a line of credit at zero interest rate than take money out of the endowment,” said Kent John Chabotar, president emeritus of Guilford College and an expert on college finances.

>> Go Deeper

2.  Amherst Asks for Help

by Madeline St. Amour, InsideHigherEd.com

"Amherst College in Massachusetts is asking for help raising funds to cover the switch to remote learning.

In a letter to the college community, Andrew J. Nussbaum, chair of the college's trustees, asked for help covering the costs, which may exceed $10 million, according to MassLive Media.

“Financially, the College remains secure, though we will experience substantial increased costs to honor the commitments we have made. We estimate that the overall financial impact to the College of the move to remote learning may exceed the $10 million raised by the Amherst Fund last year,” Nussbaum wrote. “As you’d expect, the College’s endowment valuation has already declined, and may decline further, due to the economic environment.”



3.  #WatchD3
 

20206

Now, more than ever, America is turning to streaming video for quality content to get it through this time of crisis.

And, as Division III members, we should do our part to ensure that the ole' U-S-A gets to watch quality content.

So here are our featured games of the weekend.

Friday: 2016 Men's Lacrosse Final (Salisbury vs. Tufts)
Saturday: 2018 Women's Lacrosse Final (Gettysburg vs. Middlebury)
Sunday: 2017 Softball Title Game (Virginia Wesleyan vs. St. John Fisher)

D3Playbook encourages you to unlock the vault on your outstanding #WatchD3 games, just like @LETUAthletics@GoUBears@MITAthletics and @EphSports to name a few.

>> Be Smart: Now more than ever, DIII needs to show what quality athletics is all about.


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4. Dealing With a Pandemic

5.  Comings and Goings



6.  1 Beer Thing



Time to go to "Beer School." Today's lesson - style—the breathtakingly diverse family of beers from across the world, and their variations, which often blur the lines of what a given beer “should” be.

Because of this blurring, you could hardly fault a casual drinker for not being able to tell the difference between a kettle sour and an ale traditionally soured in a barrel, or for not having any earthly clue what even defines an IPA anymore.

>> Read on for the answers to everything you wanted to know about common craft beer styles.

>> A clear response to the wine drinking article earlier this week. Have a great weekend.

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Thursday, April 2, 2020

Tommies Still on Agenda

D3Playbook
APRIL 2, 2020 | written by STEVE ULRICH
your must-read briefing on what's driving the day in NCAA Division III

Our goal is to keep you - the influencers in DIII athletics - apprised of what's happening around Division III - the games, polls, news, happenings, awards, calendar of events, and much more. We hope you enjoy d3Playbook and that you'll share this with your friends, colleagues and co-workers.

>> Good Thursday Morning!  

>> Today's Word Count: 801. Brief, concise. Easy to digest.

>> Thanks for reading D3Playbook. Please recommend us to a friend or co-worker. Or share with your staff and bring them up-to-speed on what's happening in DIII.

 
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1.  Tommies Still On Agenda

by Randy Johnson, Minneapolis Star Tribune

"The coronavirus outbreak has canceled college sports events through the spring season but isn’t expected to delay St. Thomas’ quest to move from Division III to D-I.

The NCAA Division I Council still is scheduled to meet April 23-24, with St. Thomas’ proposed move on the agenda. Summit League Commissioner Tom Douple, who has invited the Tommies into his conference, said Tuesday the timeline hasn’t changed.

St. Thomas wants to move directly to Division I, bypassing the standard five-year transition period in Division II. The school received an invitation last fall to join the Summit League. Douple said after a January meeting of the NCAA’s Strategic Vision and Planning Committee that he was “very optimistic” the NCAA would create a way for St. Thomas to move from Division III to Division I. The NCAA is considering allowing any qualified school to move directly from D-III to D-I, a rule change that would need to be approved by the Division I Council.

>> What's Next: “We remain hopeful and optimistic during the April council meeting that it’s going to provide us some guidance and answers for the future,” Douple said by phone from the Summit League offices in Sioux Falls, S.D. “(St. Thomas is) a great fit for our membership … It’s in our footprint, and they’re a great school academically. They’ve done a fantastic job of putting themselves in the position to be considered for Division I.”

>> Read More
 


2. How to Recruit, When You Can't Recruit
 
Jeff Mountain2
by Joe Tuscano, Observer-Reporter

"It’s an interesting dilemma.

How do you recruit high school athletes from the spring sports if they don’t have a spring sports season?

That’s what college coaches and recruiters are trying to figure out all across the country after the coronavirus threatens to shut down all spring activities, including baseball, softball and track.

Every coach has a different way of handling recruiting, many of them depending on their assistant coaches to do much of the legwork and computer work required.

The interesting part is there is no one way to handle it."

>> Situational Awareness: "If the PIAA eliminates the high school spring sports season, it won’t affect the baseball team at Washington & Jefferson College as much as it might another program. That’s because head coach Jeff Mountain has done a lot of his recruiting already. He really dives into it during the summer months, when camps and tournaments are held."

>> Quotable: "If this stretches out into the summer, we might have to depend more on the high school coaches and the summer coaches who are familiar with our program. We might have to recruit them blindly.”

>> Go Deeper

 
3.  #WatchD3
 
Image

Now, more than ever, America is turning to streaming video for quality content to get it through this time of crisis.

And, as Division III members, we should do our part to ensure that the ole' U-S-A gets to watch quality content.

So here are our featured games of the week.

Monday: 2019 Men's Ice Hockey Final: (Norwich vs. UW-Stevens Point)
Tuesday: 2019 NCAA Field Hockey Final (F&M vs. Middlebury)
Wednesday: 2016 NCAA Men's Soccer Final (Tufts vs. Calvin)
Thursday: 2014 Women's Basketball Final (FDU-Florham vs. Whitman)
Friday: 2016 Men's Lacrosse Final (Salisbury vs. Tufts)

D3Playbook encourages you to unlock the vault on your outstanding #WatchD3 games, just like @RowanAthletics@GoMustangSports, and @sncathletics to name a few.

>> Be Smart: Now more than ever, DIII needs to show what it is all about.
 

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4.  Calendar
 
Tentative, of course.

April 13-15 - Wrestling Rules Committee
April 15-16 - Committee on Women's Athletics
April 15-16 - Minority Opportunities and Interest Committee
April 18-19 - Student-Athlete Advisory Committee
April 20-21 - Management Council
April 28-29 - Presidents Council

 

5.  Comings and Goings
 

 
6.  1 Survival Thing


Here are the top trending “how to…” searches on Google in the past week in the U.S., via Google Trends:
  1. How to cut men’s hair at home
  2. How to make face mask from fabric
  3. How to make sanitizer wipes at home
  4. How to make Rice Krispie treats
  5. How to solve Rubik’s cube
In case you were wondering ... "How to make toilet paper” spiked +1,300% in the past week in the U.S.
 
 
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Wednesday, April 1, 2020

Putting Public Health First

D3Playbook
APRIL 1, 2020 | written by STEVE ULRICH
your must-read briefing on what's driving the day in NCAA Division III
Our goal is to keep you - the influencers in DIII athletics - apprised of what's happening around Division III - the games, polls, news, happenings, awards, calendar of events, and much more. We hope you enjoy D3Playbook and that you'll share this with your friends, colleagues and co-workers.
>> Good Wednesday morning! No foolin' around here.

>> Today's Word Count: 1,324. An easy morning read with lots of great information.

>> Thanks for reading D3Playbook. Please recommend us to a friend or co-worker. Or share with your staff and bring them up-to-speed on what's happening in DIII.


1.  Putting Public Health First


by Rachel Stern, NCAA

"It was early January — before the U.S. officially had its first case of COVID-19 — and the NCAA’s chief medical officer called a staff meeting.
“Many things were discussed that afternoon, but one thing sticks out vividly,” said Paul Roetert, director of education and strategic engagement for the NCAA Sport Science Institute (SSI), who was at the staff meeting that day. “Brian said we could have a pandemic on our hands.”
Brian is NCAA Chief Medical Officer Brian Hainline, and the pandemic he was referring to was COVID-19.
“When he said pandemic, we all looked around at each other with this look like, could it really be that bad because pandemic is a big word,” Roetert said."

>> Situational Awareness: "The NCAA sent its first memo about COVID-19 to membership in late January, sent another one in mid-February, put together an advisory panel in early March, put together an internal task force a day later, announced championships would be held without fans on March 11, then canceled all remaining winter and spring championships a day later, including the Division I men’s and women’s basketball tournaments. A lot has happened."

>> Background: "As chair of the International Tennis Federation Sports Science and Medicine Commission, (Hainline) was part of a task force that assessed whether upcoming tennis tournaments in Europe and Asia, including Olympic qualifying events, could be played, and if so, where. It became clear those countries were well ahead of the U.S. in terms of preparation, Hainline said. He was becoming increasingly worried that the virus was not only headed here, but the U.S. was behind in infrastructure readiness."

>> Quotable: “SSI looks at sport from a public health point of view. What we are doing on a daily basis is setting public health policy for member schools and student-athletes.” - Hainline.

>> Quotable II: “We had to move fast as more data was coming in, and we had to err on the side of protecting the public’s health. It became clear that there was no way to safely hold these events while still safeguarding the health of our athletes, staff and the general public,” said Vivek Murthy, an NCAA Board of Governors member and former U.S. surgeon general who serves on the advisory panel.

>> Worth Noting: The NCAA national office will extend the suspension of normal building operations in Indianapolis through May 1. All other operations will continue as the NCAA national office staff works remotely. NCAA employees will continue to be accessible through regular communication channels.

>> Go Deeper

2. Force Majeure

by Daniel Marcus, Forbes Sports Money

"Regardless of whether you subscribe to a specific faith or belief system, the phrase “Act of God” is one that most people understand as being an event or occurrence that is beyond the control of humans. Typical examples usually include natural disasters like floods, hurricanes, and earthquakes. However, as we have seen from all levels of society, a pandemic of the scale we are currently experiencing was not contemplated by the “powers that be” whose job is to contemplate such things let alone the lawyers who put together contracts and collective bargaining agreements for different sports industry stakeholders.

Force Majeure, which is known by lawyers and non-lawyers alike as the “Act of God” clause is a French term that literally translates to “superior force.” Believe it or not, force majeure clauses are fairly standard in many legal contracts across industries (not just sports) but unless you’re in an industry that is prone to be disrupted by natural disasters or other “acts of god,” it normally gets thrown into the bucket of standard “boiler plate” terms that don’t really get much scrutiny during the course of negotiating an agreement or a transaction. As a general matter, any kind of contract negotiation is an exercise in predicting the future but very few lawyers or drafters had the foresight to predict something like this."

>> Behind the Scenes: The NBA and NHL both have force majeure language in their collective bargaining agreements that would allow owners to withhold a percentage of player's paychecks upon the occurrence of a "force majeure event."

>> Why It Matters: Not every league and stakeholder in sports and beyond have such broadly-worded force majeure clauses, which leaves many companies with a crucial choice as to whether they should inevitably invoke those clauses to relieve them from having to live up to their end up the bargain under the contract.

>> Be Smart: Disputes over force majeure are going to happen across all levels of the economy from vendors to insurance companies to landlords and everyone in between.

>> Read More

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3.  Hit Hard, Not the Same After

John Giannini, shown coaching La Salle basketball, now is Rowan's athletic director.

by Mike Jensen, Philadelphia Inquirer

"The NCAA announced the financial hit last Thursday in a news release: After winter and spring championships had been canceled because of the coronavirus, the board of governors had “voted unanimously to distribute $225 million in June to Division I members to specifically focus on supporting college athletes.”

The real news came in the second paragraph, that the distribution had been budgeted for $600 million. The NCAA had insurance for lost NCAA basketball tournament revenue, but the policy isn’t paying off dollar-for-dollar. The NCAA still hopes to pay off the rest of the distribution using a loan.

However that plays out, lost tournament dollars are just the tip of the iceberg. Most cuts won’t be announced in news releases. Interviews with more than a dozen conference and school administrators and coaches led to the same conclusion: The economic climate in college sports that existed pre-coronavirus, even just a month ago, was vastly different from the one that will emerge post-coronavirus.

The ramifications will be endless. Assume the facilities arms race that consumed big-time college sports for more than two decades could slow to a crawl. Athletic department budgets will be trimmed across divisions. Schools trying to stay open might question the importance of having an athletics program at all.

>> The Bottom Line: “As students ask for room and board refunds we are talking tens of million per school,” said one Division III athletic director.

>> The Big Picture: "With enrollment goals being challenged, impacting budgets, and the fund-raising impact as there is less disposable income, Delaware Valley athletic director Dave Duda said he thought colleges would be affected “across the board.”

>> Between The Lines: “Colleges will close, drop athletics entirely or cut considerably the number of sports they offer," said Joe Giunta, former athletic director at Cabrini and Dickinson and former associate athletic director at Temple.

>> The Final Word: "Let’s not call these ripple effects. More like an undertow, with the endless impacts of this pandemic ripping back to an athletic shoreline that is irrevocably changed."

>> Go Deeper

4.  Comings and Goings


5.  1 Wine Thing

Woman dog laptop fire

With an increasing number of people staying at home due to COVID-19, now is a good time to master the ins and outs of purchasing wine online. Some small wineries ship directly to consumers, but laws vary by state. Online retailers large and small offer breadth, depth and expertise, while digital wine clubs choose the wines for you, delivering regularly to your door.
Here’s everything you need to know about ordering wine online.

>> You're Welcome

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