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(February 3, 2010) A Multiple Choice Test CNBC published a report of the “Biggest 2009 College Endowment Losses”. According to CNBC “[a]ccording to a new study by the National Association of College and University Business Officers (NACUBO) and the Commonfund Institute, endowments and affiliated foundations had an average investment loss of 19 per cent between July 1, 2008 – June 30, 2009.” According to Dr. Saunders, the USM Foundation awarded 620 academic scholarships during 2008-2009. However, she reported that the Foundation would only be able to award 200 scholarships – a drop of 420 or a decline of 67.7%. A few days later, usmnews.net reporters discovered that none of the CoB’s professorships will be funded in 2009-2010, either.

(April 18, 2010) . . . breaking news . . . What has the USM Administration Done Now? HATTIESBURG – With a The Hattiesburg American news story on 17-April-10, which followed a USM press release of 16-April-10 – both discussing cryptic violations of IHL Board policies by the USM Research Foundation – it appears as though the USM administration is heading into another scandal.

(April 20, 2010) breaking news . . . USM Research Foundation Scandal Heating Up HATTIESBURG – The 20-April-2010 issue of The Hattiesburg American reports that the situation surrounding possible misconduct in the USM Research Foundation has moved from the inquiry stage to the official investigation stage. This suggests that Mississippi officials are on the trail of some significant misdeeds.

(April 25, 2010) USM Research Foundation Scandal Becoming Clearer? Sun Herald Reports that Pinion Properties at Center of Situation According to Melissa Scallan’s 22-Apr-2010 story for the Sun Herald newspaper, former USM employees Richard and Helene Hadden and the USM Research Foundation’s Pinion Properties are at the center of the recent scandal involving the USMRF.significant misdeeds.

(May 2, 2010) Former USM Provost Jay Grimes Implicated in USM Research Foundation Scandal In a 28-April-2010 news story by The Hattiesburg American’s higher education reporter Ed Kemp entitled “Auditor investigating $860K stock purchase,” the USM family learned that former USM provost Jay Grimes is alleged to have been involved in the breaking scandal in the USM Research Council.

(June 15, 2010) breaking news . . . Lucas and Pierce to Get $370,000 HATTIESBURG – Additionally, the IHL will be elevating Bob Pierce from acting vice president of advancement and executive director of the USM Foundation and the USM Alumni Association to vice president of advancement and executive director of the USM Foundation. The removal of acting from Pierce’s title may come as a surprise to many USMers. And, Pierce’s salary will be rising from $104,200 per year to $185,000 per year with this change in titles, representing a 77.5% increase.