Download - November 18, 2009
November 18, 2009
Dr. James R. RamseyPresident
GLITop Investors and
Executive Committee
Economists like pictures and graphsSome dots and a triangle…
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• Wind• Ice• Flood
• Neurosurgery• Personnel Issues
And of course, the worst economy since the Great Depression.
Last year was a … of a year!
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We know that nationally times have been unprecedented… and who knows?
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GDP Declines During Postwar Recessions(peak-to-trough percent change; date is year of peak quarter)
1948 1953 1957 1960 1970 1973 1980 1981 1990 2001 2008 1st Qtr
2009
2nd Qtr
2009
3rd Qtr
2009
-6
-5
-4
-3
-2
-1
0
1
2
3
4
-1.8
-2.7
-3.7
-1.5-1.1
-3.1
-2.2
-3.8
-1.4
-0.2
-4.8
-5.7
-0.700000000000001
3.5
U. S. Job LossAre we out of the woods yet?
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Mar-0
8
Apr-08
May-0
8Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-0
9
Apr-09
May-0
9Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
-800
-700
-600
-500
-400
-300
-200
-100
0
Kentucky has not been immune to those impacts
Nonfarm employment in thousands
6Notes:
Employment 2009 < employment 1999
Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-101750.0
1770.0
1790.0
1810.0
1830.0
1850.0
1870.0
1890.0
1769.4
Dec. ’071872.4
Sep. ‘081845.0
Sep. ’091758.6
Employment loss – 4.7%
State General Fund loss – 4.0%
Kentucky Economy:Manufacturing – Our Bread and Butter
Manufacturing employment (in thousands)
p: preliminary
Sep. 2009208.9 (p)
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We (Kentucky) face challenges
• Big challenges
• Structural challenges
• We will struggle for a while – next biennium budget will be ugly
In the words of that great philosopher, Lily Tomlin,“It’s going to get a lot worse before it gets worse.”
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Some numbers…(Depressing, aren’t they)
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e – estimatea – actualr - revised
Year State General Fund (000,000)
FY 08 $8,664.0 (a)
FY09$9,005.7 (e-budget '08)
$8,548.4 (r-Nov. '08)$8,426.0 (a)
FY10$9,417.6 (e-budget)$8,295 (r-May ‘09)
$8,214.0 (r-Aug. ‘09)$8,135.0 (r-Oct. ’09)
FY11 $8,315.0 (Oct. ‘09)
FY12 $8,623.0 (Oct. ‘09)
What’s all this have to do with UofL?
We are expected to help improve economic opportunity and quality
of life for Kentuckians (HB1 – 1997)
Law has not changed.
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“U of L to be Premier Nationally Recognized Metropolitan Research University”
“Challenge for Excellence”(1998 – 2008)
“We met Challenge”
2020 Plan
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The weak economy has an impact on us too…
Kentucky Employment Losses
Cuts/Cuts/Cuts
9 for 9
State Individual Income Tax/Sales Tax
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But no one is… hanging it up
or calling it quitsjust because we are
challenged –
To the contrary…
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Our Students…
• Freshman class average ACT• 1998 – 21.4• 2009 – 24.5
• State avg. – 20.8 (19.4)
• National avg. – 21.1
• 24 National Merit Scholars
• More students from outside Jefferson County than inside
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1. Commitment to quality– Our Covenant
2. Affordable3. Small campus experience
– Freshman English classes are limited to 22 students– 19:1 student/faculty ratio– Active student advising
4. Engagement– 250 student organizations and growing– Campus
5. A “research” university6. Our Community– UofL named one of America's Top 25 'Best Neighbors' - #12
Why we are getting the best students…
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Our Graduates…
• 1998 – 1,734 degrees awarded• 2009 – 2,428 degrees awarded– 2020 Goal – 3,074
• Graduation rate – Increased from 30% in 1998 to 48.4% in 2009– 2020 Goal – 60%
• Doctoral Degrees– 1998 – 76– 2009 – 142– 2020 Goal - 350
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And while we like our athletic success…
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• 5th Men’s Basketball (‘08-’09 season)• 17th Men’s Baseball (‘08-’09 season)• 22nd Men’s Tennis (current)• 29th Men’s Swimming/Diving (current) • 40th Men’s Golf (current)
• 2nd Women’s Basketball (‘08-’09 season)• 11th Women’s Field Hockey (current) • 16th Women’s Golf (current) • 18th Women’s Rowing (current) • 22nd Women’s Swimming/Diving (current)• 22nd Women’s Indoor Track & Field (‘08-’09 season)
How ‘bout these rankings/numbers!
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• #1 World ranking for Cardinal Singers• 2nd Percent of growth in Federal Research funding 2001-08• 9.5% Increase in transfer students• 11th School of Dentistry Research rank• 12th Best “Community” Neighbor• 13th Medicaid managed healthcare plan• Top 15% Military Friendly School• 16th School of Business Graduate Entrepreneurship • 20th Entrepreneurship productivity• 20th Number of Fulbright Scholars• 20th University increase/jump in Business Week public ranking• 24 National Merit Scholars in Freshman class• Fast 50 – Jonathan Blue – Louisville’s fastest growing privately held
company
Our Research…
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Research Funding and NIH Funding
Total grants:
1998 - $42 M2009 - $140 M
2020 Goal - $400 M
“From mind to marketplace”
1998 2008 2020 Goal
Startup companies (cumulative) 1 22 34
Patents (cumulative)
Applications filed
151 710 1,064
License option agreements (cumulative)
17 73 110
Note: By 2008, 130 patents were issued, a 136% increase since 1998.
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And our research helps Kentucky...
• The Conn Center for Renewable Energy Research and Environmental Stewardship• Argonne National Laboratory
• Cancer Care/Drugs E.g. Gardasil
• Heart care/researchE.g. Adult Stem Cells to regenerate heart
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Our faculty is critical to Kentucky’s healthcare…
• State of the art medical care provided by 460 faculty physicians who are the best teachers and researchers
• James Graham Brown Cancer Center
• University Hospital Level I Trauma Center
• The safety net for the underinsured and the uninsured– ULH: 21% uninsured normal times; today => 30%
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We are driving the economy…New arena and other construction projects
ShelbyHurst
Louisville Arena
Haymarket
Center for Translational Research
23Since 2002 – over $800 million in capital construction
We have…
• Been challenged• Made progress• Have more to do
And despite challenges, we are focused andcommitted.
And we embrace “Idea City”Louisville will be the idea capital of the world, where
imaginations and individuals thrive
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Keeping the engines running…4 keys to Kentucky’s future
• Education
• Education
• Education
• Education
The fuel for an economic recovery is educating
Kentucky’s citizens.
Education PaysPer Capita Income in All 50 States v. Adults
with Bachelors Degrees or Higher Data for 2007
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
15% 20% 25% 30% 35% 40%
2007
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Students or Inmates?
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2010 Legislative Priorities
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• Fund maintenance and operations for current buildings
• Increase base funding• Fund additional classroom space• Keep “Bucks for Brains” alive
Support CPE Recommendations
We need your support…
You are our messengers to the legislators!
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THANK YOU!
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