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So, the UCI Alumni Association has sent out emails informing people of the opposition to Prop. 92 by the UC Regents, among others.
While the Regents may have a point, they undermine their own position by not cleaning up the wasteful spending at UC campuses.
A case in point is right here at UCI: instead of firing incompetent people like Bill Zeller and Kevin Ansel, they are "promoted away", and continue to get pretty good salaries.
If the Regents were really serious about the funding crisis, they would get such people fired, in particular since they have done considerable harm to the university's reputation.
Until then, the Regents' opposition to Prop. 92 is rather hollow. UC's funding crisis can't be all that bad if UC can keep demonstrably incompetent people employed...
Although one regent apparently has recognized that there is a lot of waste within UC, the whole UC governing body doesn't seem to want to act on that. Given that, they need to clean up their house first before they have any standing opposing Prop. 92.