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Saturday, April 4, 2026

More Conversations

Top left: Bachhar with Larry Fink, Blackrock - Center: Bachhar with Bruce Flatt, Brookfield - Bottom right: Bachhar with Lionel Assent (upper right) and Kenneth Caplan (center), Blackstone

UC CFO Jagdeep Bachhar has had periodic conversations/interviews on Zoom with financial industry figures over the past year at irregular intervals.* Three were held recently. As in the past, we have recorded the audio since the Zooms occur at times that may be inconvenient for readers.

On March 31, there was a conversation with Larry Fink of Blackrock:

https://ia801506.us.archive.org/0/items/newsom-03-04-2026/UC%20CFO%20Bachhar%203-31-2026%20Larry%20Fink-Blackrock.mp4

On April 1, there was a conversation with Bruce Flatt of Brookfield:

https://ia601506.us.archive.org/0/items/newsom-03-04-2026/UC%20CFO%20Bachhar%20Conversation%204-1-2026%20Bruce%20Flatt.mp4

On April 2, there was a conversation with Lionel Assent and Kenneth Caplan of Blackstone (not to be confused with Blackrock):

https://ia801506.us.archive.org/0/items/newsom-03-04-2026/UC%20CFO%20Bachhar%20Conversation%204-2-2026%20Assent%20Caplan%20of%20Blackstone.mp4

The general theme in all the conversations was that we are in it for the long run, so not to worry about such things as the Iran War. It will all work out. AI was depicted as the growth engine/opportunity of the moment but the investments being made are not so much directly in AI development but instead in such supportive industries such as electricity generators and data centers. 

When it came to Blackstone, some faithful blog readers will recall the episode in which UC funds essentially were involved in a bailout of the Blackstone Real Estate Investment Trust (BREIT "bee reet") in exchange for a promise of above-market returns. At the time, the real estate market was distressed and BREIT was rationing payments to investors who wanted to pull their money out. Bachhar was anxious to note that eventually the UC investment made "billions." But, as we pointed out at the time, the issue was whether at the time the terms of the bailout were prudent for UC and - given the risks perceived at the time - who should make the decision. It appeared that the decision was entirely Bachhar's alone.

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*https://uclafacultyassociation.blogspot.com/2025/06/june-conversation.htmlhttps://uclafacultyassociation.blogspot.com/2025/05/the-conversation.htmlhttps://uclafacultyassociation.blogspot.com/2026/03/another-forecast.html.

Straws in the Wind - Part 302

From Inside Higher Ed: Students at Florida’s 12 public universities will no longer be able to fulfill their general education requirements by taking an introductory sociology course. ...The Florida Board of Governors unexpectedly voted to remove Introduction to Sociology from institutions’ general education curriculum offerings... “Sociology as a discipline is now social and political advocacy dressed in the regalia of the academy,” Ray Rodrigues, chancellor of the State University System, said at the board meeting at the University of West Florida in Pensacola. As a discipline, he added, sociology has been “ideologically captured.”

...In 2023, the Florida Legislature passed Senate Bill 266, prohibiting general education courses from including topics that “distort significant historical events,” teach “identity politics” or are “based on theories that systemic racism, sexism, oppression, and privilege are inherent in the institutions of the United States and were created to maintain social, political, and economic inequities.” Then, in January 2024, the Board of Governors voted to remove sociology from the state’s approved core course requirements. One year later, the board removed hundreds of additional courses, including many focused on race and gender, from general education offerings at all state universities...

Full story at https://www.insidehighered.com/news/quick-takes/2026/03/30/florida-deals-another-blow-sociology.

The (First Quarter) Alternative Way


As blog readers will know, we routinely back up this blog on a quarterly basis in pdf format on the Internet Archive. Alas, some time back, we used to be able to do it as a book. But the service that provided the books is no more. However, we still have downloadable pdfs backed up. You can read the first quarter of 2026 at https://archive.org/details/jan-31-24-2026.

Friday, April 3, 2026

Getting In - Part 4

We have been posting about UC admissions including the various services promising to reveal the secrets of UC's decision process. The fact that the process at each campus is opaque undoubtedly costs the university public support. While you could argue that UC procedures are not more opaque than, say, Stanford's, UC is a public institution. 

Below is a recent opinion piece expressing frustration with UC admissions.

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The UC admissions process is secretive and uneven. Here’s how to fix it

By Paul Gardiner, San Francisco Chronicle, March 29, 2026

University of California admissions decisions are out. Some 200,000 applicants and their families are finally seeing the results of a process whose rules are unwritten, whose scoring is secret, and whose outcomes can be difficult to explain.

The admissions process should be redesigned around the following four key principles.

First, transparency. The UCs should publish exactly the algorithm that they use to evaluate applicants and each applicant should see how their application was scored. Admissions offices tend to speak in reverential terms about using the current “comprehensive review” process to shape an incoming class, as if they were organizing an intimate dinner party, but the process is so arbitrary that it annually turns up stories of students with near-perfect records, typically Asian, who get rejected while apparently inferior candidates are accepted. In reality, UC Santa Barbara, a middle-tier UC, receives 110,000 applications, of which it accepts 42,000 and enrolls 5,000. There is no shaping going on. This is a numbers game.

There is an ongoing debate about what the goals of the admissions process should be. 

The current merit-influenced system accounts for family background by factoring in a student’s high school, which serves as a proxy for race and ethnicity, the consideration of which California voters have prohibited. Some would prefer a purely merit-based system. Others believe that, as a public university system, the UC should offer every minimally qualified student an equal shot — a lottery, in other words. 

I don’t want to take sides in that debate. I just want to argue that the process should be transparent. No sane person would come up with our current income tax system but it has been assembled over time by majority support and its transparency enables you to calculate your tax exactly. Every applicant should be able to calculate their admission score using whatever process the UCs define.

Second, UC admissions offices should have to demonstrate the value of every element of how applications are scored. The application should not require students to submit anything unless it has predictive value for student success. A student’s academic record meets this standard. Portfolios required by Art and Music programs probably do, too. But do essays predict student success when many are now written by AI? Do lists of extracurriculars identify special talents or just result in shameless self-promotion? 

Third, admissions offices must evaluate an applicant’s academic records accurately. High school transcripts have become unreliable due to grade inflation. At UC San Diego, one in 12 freshmen has math skills below middle school level. One quarter of students in remedial math had entered the school with a 4.0 grade average in math, and some of them had completed calculus. Thousands of applicants were proficient in math but UCSD was unable to identify them or chose not to admit them.

Accurate assessment requires external calibration. The UCs could do this themselves: if a high school repeatedly sends students with 4.0 GPAs who can’t do middle school math, admissions officers should calculate a credibility-adjusted GPA for future applicants from that school. As the saying goes: Fool me once, shame on you; fool me twice, shame on me. 

Better calibration would come from AP exam scores. Ninety percent of UC-eligible students attend schools that offer AP courses. Seventy percent of students who take any AP exams take at least one in 10th or 11th grade. The UCs already use AP scores for class placement after admission and they award so much college credit based on them that high scorers can graduate in three years instead of four.  Students who score 5 on the AP exam are stronger than those who score 1, even if both got an A in the associated high school class. But Admissions considers only the class grade. 

Fourth, UC admissions officials should be explicit about background and context adjustments for applicants. The UCs have a policy called “eligibility in the local context” that guarantees UC admission to eligible applicants who are in the top 9% of their graduating classes. It is clear who is eligible for this adjustment. But it is not clear how this factors into admissions decisions given that each campus makes its admissions decisions independently. 

Each UC favors local applicants but they are not specific about where each UC draws its boundaries and how much of a boost local applicants receive. They adjust for the range of classes offered at a high school but don’t say how they measure this nor what adjustment results.

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Source: https://www.sfchronicle.com/opinion/openforum/article/uc-admission-application-university-22103492.php.

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PS: For the record, the "photo" above is AI-generated.

Straws in the Wind - Part 301

From the Philadelphia Inquirer: With continued uncertainty about federal research funding, the University of Pennsylvania’s engineering school [last] Friday launched a $200 million fund to finance innovative projects at their earliest stages. The initial fund will support research and educational advances at the School of Engineering and Applied Science over the next five years, the school said.

“The federal government is no longer a reliable partner,” said Vijay Kumar, Penn’s engineering school dean. “And what we’d like to do is to make sure that we can establish partnerships on which our faculty can rely on, going into the future. And that’s through philanthropy.”

It is the largest such venture ever launched by the engineering school and comes as President Donald Trump’s administration continues to threaten research funding at the nation’s universities. Penn earlier this year directed its schools and centers to cut 4% from certain expenses in the next fiscal year while keeping in place earlier reductions made in response to Trump administration’s policies and ongoing threats to federal funding. The new fund is not designed to replace lost federal funding, Kumar said. Penn traditionally has received about $1 billion in federal research funding annually. But he said it can fund early-stage research and back research areas the Trump administration may not support, such as climate change and vaccinations...

Full story at https://www.inquirer.com/education/penn-engineering-research-fund-trump-20260328.html.

Wikipedia Solicitations - Part 2

We have previously posted about solicitations from Wikipedia "editors" to write a nice page for you.* Such solicitations inevitably involve paying for the service. They may be outright scams. Or they may involve claims that seem to suggest that whatever they write is what will appear on Wikipedia.

If you get a solicitation such as the one reproduced at the bottom of this post, the best advice is not to respond and delete the message.

You can also report them: paid-en-wp@wikipedia.org

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*https://uclafacultyassociation.blogspot.com/2026/01/wikipedia-solicitations.html

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It's worth also repeating that Wikipedia is OK as a source for non-controversial information. Controversial political topics are another matter. Note also that if you ask an AI source about a controversial issue, it is likely to reproduce Wikipedia interpretations as if they are facts. Caution advised.







 

Will Harvard Continue to Lead the Charge? - Part 137

From the Harvard Crimson: Dean of Undergraduate Education Amanda Claybaugh announced Monday that Harvard College will delay implementation of its controversial grading reform to fall 2027 and introduce a new “SAT+” grade, marking the most significant revisions yet to a proposal aimed at curbing grade inflation. The updated Subcommittee on Grading plan — which will be put to a Faculty of Arts and Sciences vote at its meeting next Tuesday — comes after months of debate among faculty, students, and administrators since the proposal was first introduced in February.

The original version, centered on a strict cap on A grades, drew sharp backlash from students and cautious concern from faculty. If approved, the policy would be reviewed at the end of its third year. The revised proposal makes three major changes: it pushes back the implementation timeline by a year, modifies how the cap on A grades is calculated, and adds a new grade within the SAT/UNSAT system.

Under the new timeline, the policy would take effect in fall 2027 rather than the originally proposed 2026-27 academic year. The plan also calls for a committee, appointed by Harvard College Dean David J. Deming, to oversee the rollout. The proposal has become a flashpoint on campus since its release, with students and faculty raising concerns about the A-grade cap and the speed, and breadth, of the proposed reforms...

Full story at https://www.thecrimson.com/article/2026/3/31/college-grading-proposal-update/.