The president of the University of Texas System’s flagship campus in Austin says he didn’t seek a $10 million dollar deal that was reached between UT System regents and a politically connected online company.
Regents voted in August to invest $10 million for a 22.5-percent stake in Austin-based MyEdu Corp., which runs a website where students can rate their courses and professors online. The company has close ties to the system’s former chancellor, his son, and associates of Texas Gov. Rick Perry.
“That was a decision of the board. That was not a decision of the campus. We didn’t choose to bring this to the campus; it was brought to us,” UT-Austin President William Powers Jr. told the UT Faculty Council on Oct. 31. “Would I have had different priorities for that $10 million? Yes.”…Read More