Bing Investigation

[UA_MA_2000]

In my personal opinion...they got off cheap. A 6 month investigation like this cost a client of my old firm way north of 2.5 million. Hell, we charged 160 an hour for temp doc review attorneys. Most worked 80 hour weeks minimum...and there were 10 on the case. Add in a lit support program, lit technology peeps, backup data, partner fees, associate fees and paralegal fees...plus other fees...and this 910k was a bargain.

 

Agreed. Judith Kaye (former Cheif Judge of the NYS Court of Appeals; of counsel at Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY) was the author of this report, and I can only imagine what the hourly fees were. Before the economic downturn, at least $400/hour, wouldn't you guess Dane96? Maybe even more (even now with the economic climate)?

 

http://www.skadden.com/Index.cfm?contentID=45&bioID=9178

 

 

EDIT:

 

"The total cost for the review came in at $913,381 which includes 1,770 billable hours for eight members of the legal team of Skadden, Arps, Slate, Meagher & Flom LLP; 547 billable hours for legal assistants and vendor charges for electronic data retrieval and analysis. Costs were capped under an agreement with the law firm.

 

The SUNY Research Foundation entered in to a contract with Skadden Arps on behalf of the SUNY Board of Trustees to expedite this review. The Research Foundation will seek reimbursement from Binghamton University for 50% of the cost and use SUNY Central RF unrestricted funds to cover the remaining 50% of the cost of the investigation. No tuition or taxpayer dollars will be used to pay these expenses."

 

USA Today article

[UA_MA_2000]

As some of you guys have mentioned, this doesn't look over from an NCAA perspective. Some of the Bing fans were thinking this release was going to bring closure to this episode but I think there is still a ways for them to go.

 

DP is absolutely correct. This is probably just the beginning. If true, some of the conduct described could be deemed by the NCAA to be serious infractions. I don't think the "Death Penalty" is warranted here, but I think, at a minimum, it is reasonable to believe that the wins of last season, including the championships, will (should?) be forfeited. Thoughts?

 

For purposes of perspective, the following hyperlink will take the reader to a page purportedly summarizing the instances in which the NCAA has imposed the "Death Penalty" and cases that came close to receiving that penalty: Death Penalty (NCAA) (Wikipedia)

[UA_MA_2000]

In my personal opinion...they got off cheap. A 6 month investigation like this cost a client of my old firm way north of 2.5 million. Hell, we charged 160 an hour for temp doc review attorneys. Most worked 80 hour weeks minimum...and there were 10 on the case. Add in a lit support program, lit technology peeps, backup data, partner fees, associate fees and paralegal fees...plus other fees...and this 910k was a bargain.

 

Agreed. Judith Kaye (former Cheif Judge of the NYS Court of Appeals; of counsel at Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY) was the author of this report, and I can only imagine what the hourly fees were. Before the economic downturn, at least $400/hour, wouldn't you guess Dane96? Maybe even more (even now with the economic climate)?

 

http://www.skadden.com/Index.cfm?contentID=45&bioID=9178

 

 

EDIT:

 

"The total cost for the review came in at $913,381 which includes 1,770 billable hours for eight members of the legal team of Skadden, Arps, Slate, Meagher & Flom LLP; 547 billable hours for legal assistants and vendor charges for electronic data retrieval and analysis. Costs were capped under an agreement with the law firm.

 

The SUNY Research Foundation entered in to a contract with Skadden Arps on behalf of the SUNY Board of Trustees to expedite this review. The Research Foundation will seek reimbursement from Binghamton University for 50% of the cost and use SUNY Central RF unrestricted funds to cover the remaining 50% of the cost of the investigation. No tuition or taxpayer dollars will be used to pay these expenses."

 

USA Today article

 

 

"No tuition or taxpayer dollars will be used to pay these expenses."

 

So, then, what is the source of the money being used to pay for the substantial expenses? Ticket sales? Proceeds from unspecified activities? Donations to the University and/or Athletic Department? Bingo's Endowment?

[Dane96]

Holy crap...that is a MAJOR bargain. At an average cost of $394 an hour for all those services...its a FLIPPIN STEAL. That usually happens with government entities (and other corporations who have negotiating skills)- it's called a "blended rate." Put it this way...at a major law firm I worked at...the first year associates were billing out at $350 an hour...and some partners were over the $1,000 an hour range.

 

I'd have to think Kaye's rate was well into the $600 - $800 range based on her stature. That said, the associats were likely doing most of the work (probably two 5-7 year service associatss...and a couple of 2nd and 3rd years...with two-three first years and a paralegal).

[danefan]

In my personal opinion...they got off cheap. A 6 month investigation like this cost a client of my old firm way north of 2.5 million. Hell, we charged 160 an hour for temp doc review attorneys. Most worked 80 hour weeks minimum...and there were 10 on the case. Add in a lit support program, lit technology peeps, backup data, partner fees, associate fees and paralegal fees...plus other fees...and this 910k was a bargain.

 

Agreed. Judith Kaye (former Cheif Judge of the NYS Court of Appeals; of counsel at Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY) was the author of this report, and I can only imagine what the hourly fees were. Before the economic downturn, at least $400/hour, wouldn't you guess Dane96? Maybe even more (even now with the economic climate)?

 

http://www.skadden.c...D=45&bioID=9178

 

 

EDIT:

 

"The total cost for the review came in at $913,381 which includes 1,770 billable hours for eight members of the legal team of Skadden, Arps, Slate, Meagher & Flom LLP; 547 billable hours for legal assistants and vendor charges for electronic data retrieval and analysis. Costs were capped under an agreement with the law firm.

 

The SUNY Research Foundation entered in to a contract with Skadden Arps on behalf of the SUNY Board of Trustees to expedite this review. The Research Foundation will seek reimbursement from Binghamton University for 50% of the cost and use SUNY Central RF unrestricted funds to cover the remaining 50% of the cost of the investigation. No tuition or taxpayer dollars will be used to pay these expenses."

 

USA Today article

 

 

Flat fee arrangement for legal fees most likely.

 

Judge Kaye's time is worth way more than $400 an hour. She's probably in the $750 range.

[Dane314]

http://www.timesunion.com/ASPStories/Story.asp?StoryID=903416&LinkFrom=RSS

[danefan]

http://www.timesunio...16&LinkFrom=RSS

Ugh....

 

I'm 100000000000% sure a lower bidder would have been found. But you pay for what you get. The SUNY foundation got the report they wanted for a price that is a drop in the bucket from the top law firm in the world.

[Dane Pound]

Bing has to pay half the cost of the investigation back, almost half a million plus probably the remainder of Broadus' contract? Yuck.

[danefan]

Bing has to pay half the cost of the investigation back, almost half a million plus probably the remainder of Broadus' contract? Yuck.

 

 

I have to imagine that Bing will void Broadus' contract now and will use this report as evidence that his conduct breached his contract. He'll sue and they'll settle but I can't imagine they'll pay his entire remaining contract.

 

Still a hefty price tag for sure. And all for nothing really.

[Clickclack]

Bing has to pay half the cost of the investigation back, almost half a million plus probably the remainder of Broadus' contract? Yuck.

 

 

I have to imagine that Bing will void Broadus' contract now and will use this report as evidence that his conduct breached his contract. He'll sue and they'll settle but I can't imagine they'll pay his entire remaining contract.

 

Still a hefty price tag for sure. And all for nothing really.

 

All for a blowout at the hands of Duke....

[danefan]

Bing has to pay half the cost of the investigation back, almost half a million plus probably the remainder of Broadus' contract? Yuck.

 

 

I have to imagine that Bing will void Broadus' contract now and will use this report as evidence that his conduct breached his contract. He'll sue and they'll settle but I can't imagine they'll pay his entire remaining contract.

 

Still a hefty price tag for sure. And all for nothing really.

 

All for a blowout at the hands of Duke....

 

And the irony continues.....

 

Bing paid for a blowout against Duke. We got paid for a blowout against Duke.

 

+1 Albany

-1 Bing

 

[uofalbany]

Bing has to pay half the cost of the investigation back, almost half a million plus probably the remainder of Broadus' contract? Yuck.

 

 

I have to imagine that Bing will void Broadus' contract now and will use this report as evidence that his conduct breached his contract. He'll sue and they'll settle but I can't imagine they'll pay his entire remaining contract.

 

Still a hefty price tag for sure. And all for nothing really.

 

All for a blowout at the hands of Duke....

 

And the irony continues.....

 

Bing paid for a blowout against Duke. We got paid for a blowout against Duke.

 

+1 Albany

-1 Bing

 

 

 

Too funny! Is the ex athletic director still being employed, or did they finally let him go?

[alum73]

In my personal opinion...they got off cheap. A 6 month investigation like this cost a client of my old firm way north of 2.5 million. Hell, we charged 160 an hour for temp doc review attorneys. Most worked 80 hour weeks minimum...and there were 10 on the case. Add in a lit support program, lit technology peeps, backup data, partner fees, associate fees and paralegal fees...plus other fees...and this 910k was a bargain.

 

Agreed. Judith Kaye (former Cheif Judge of the NYS Court of Appeals; of counsel at Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY) was the author of this report, and I can only imagine what the hourly fees were. Before the economic downturn, at least $400/hour, wouldn't you guess Dane96? Maybe even more (even now with the economic climate)?

 

http://www.skadden.c...D=45&bioID=9178

 

 

EDIT:

 

"The total cost for the review came in at $913,381 which includes 1,770 billable hours for eight members of the legal team of Skadden, Arps, Slate, Meagher & Flom LLP; 547 billable hours for legal assistants and vendor charges for electronic data retrieval and analysis. Costs were capped under an agreement with the law firm.

 

The SUNY Research Foundation entered in to a contract with Skadden Arps on behalf of the SUNY Board of Trustees to expedite this review. The Research Foundation will seek reimbursement from Binghamton University for 50% of the cost and use SUNY Central RF unrestricted funds to cover the remaining 50% of the cost of the investigation. No tuition or taxpayer dollars will be used to pay these expenses."

 

USA Today article

 

 

Flat fee arrangement for legal fees most likely.

 

Judge Kaye's time is worth way more than $400 an hour. She's probably in the $750 range.

 

I would have to believe this will end up coming out of Binghamton's portion of the overhead recovery on research. I doubt it will impact the other campuses. Maybe some Central Admin. contribution. At least I hope that's the case.

[olddog71]

For the last few years on the bench, Chief Justice Judith Kaye had been clamoring for a substantial pay boost for herself and all NYS judges. From what I recall, the judges had not received a salary increase for about ten years.

 

Perhaps the money she received for doing the report on Bing's athletic program was a way of allowing her a kind of pay increase.

[UA_MA_2000]

E-mail sent to students and alumni at Binghamton regarding their absence from the tournament. The letter states that it will be (re-)published later this month.