Afternoon Update: Chancellor who led university through financial exigency will resign

Bill would ban legacy preferences; Va. Tech drops them; the average cost to colleges of data breaches; Bradley U. looks to cut costs by 10%; and more. ADVERTISEMENT [Afternoon Update Logo]( You can also [read this newsletter on the web](. Or, if you no longer want to receive this newsletter, [unsubscribe](. LEADERSHIP [Chancellor Who Led Henderson State U. Through Financial Exigency Will Resign]( Charles M. Ambrose, who took office in 2021, when the Arkansas university was on the brink of bankruptcy, will step down on September 15, in what he described as a voluntary move. His [controversial decision]( to [invoke financial exigency]( led to [program closures and layoffs]( including of tenured professors. (Arkansas Democrat-Gazette, The Chronicle) ADVERTISEMENT RACE ON CAMPUS [A U.S. Congressman Talks About His Bill to End Legacy Admissions]( By J. Brian Charles [STORY IMAGE]( “Ending structural and institutional racism is a priority for our office,” says Rep. Jamaal Bowman, Democrat of New York. ADMISSIONS [Virginia Tech Drops Preferences for Legacy Applicants]( The public university said that the children of alumni already were successfully applying for admission without such preferences, so the change was unlikely to have much effect. The announcement stemmed from the Supreme Court’s decision in June to [strike down race-conscious admissions]( which [has]( raised [questions]( about [preferences]( in [general](. (University statement, The Chronicle) TECHNOLOGY [Data Breaches Cost Colleges and Training Companies $3.7 Million, on Average]( In an annual report for 2023, IBM assessed the cost of cyberattacks by studying hundreds of organizations that were hit by them. The tally marked a decline from 2022, when the average cost of a data breach in the sector was $3.9 million. (Higher Ed Dive) CAMPUS CUTS [Bradley U. Looks to Slash Costs by 10% to Deal With $13-Million Budget Shortfall]( The private university in Illinois said 40 faculty and staff positions, 30 of them vacant, would be eliminated immediately. Bradley blamed the deficit, amounting to a tenth of its budget, on lower-than-expected enrollments, changes in the economic climate, and increasing operational costs. (WCBU) CLOSING TIME? [West Virginia Board Revokes University’s Ability to Award Degrees Amid Staggering Debt]( The state’s Higher Education Policy Commission has voted to take action against Alderson Broaddus University, a small Baptist institution. The move was in response to its financial struggles, including $775,000 in utility debt and a $27-million loan from the U.S. Agriculture Department. Other colleges in the state are said to be ready to accept transfer students in a teach-out plan. (Associated Press) STUDENT ACTIVIST [Princeton Student Pleads Guilty to Civil Disorder in January 6 Mob’s Attack on Capitol]( Larry F. Giberson, who graduated in May with a degree in politics and certificates in values and public life and in French, pleaded guilty on Monday to joining the pro-Trump mob’s assault on police officers during a violent clash at the U.S. Capitol on January 6, 2021. He will be sentenced on November 1. The university declined to comment on his guilty plea. (The Daily Princetonian) EVENTS [Browse Upcoming and On-Demand Virtual Events]( [STORY IMAGE]( Join a discussion with national experts and leading practitioners on how to navigate an uncertain future and what new ideas your institution can pursue. NEWSLETTER [Sign Up for the Teaching Newsletter]( Find insights to improve teaching and learning across your campus. Delivered on Thursdays. To read this newsletter as soon as it sends, [sign up]( to receive it in your email inbox. UPCOMING PROGRAM [The Chronicle's Bootcamp for Future Faculty Leaders] [Join us in September]( for a professional development program tailored to the needs of midcareer faculty. Experienced academic leaders and faculty members will provide insights on the diverse professional paths that might be taken by faculty members in this one-day virtual program. [Register today!]( SPONSOR CONTENT | Florida International University [FIU’s College of Engineering & Computing rises to meet the demands of booming Florida]( ADVERTISEMENT FROM THE CHRONICLE STORE [Restructuring a University - The Chronicle Store]( [Restructuring a University]( In 2022, Henderson State University declared financial exigency after realizing it could no longer avoid hard choices. This case study of the university’s path to near-ruin highlights lessons for any college leader contemplating a restructuring to keep an institution viable. [Order your copy]( to learn about key factors to consider in a restructuring process. 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