The tone of the editorial below makes it clear which definition of chutzpah (see right-hand box) the newspaper is using.Monday, January 3, 2011, Editorial
Pension gall
The tallest ivory towers at the University of California apparently have no windows, or top administrators would see that they are wildly out of touch with reality. UC executives should drop their insulting quest for bigger retirement benefits. And if not, the university's Board of Regents should flatly reject a proposal the university cannot afford.
A group of 36 UC executives sent a letter to regents last month, in advance of the board's vote on plans to close a huge shortfall in the university's retirement plan. The administrators threatened a lawsuit if the university did not provide a promised pension benefit hike for the system's top earners...
Given those conditions, chutzpah barely begins to describe a demand to widen the pension shortfall. Granting the higher benefits would cost $5.5 million a year, and require nearly $51 million to make the changes retroactive to 2007, as executives want…
Full story at http://www.pe.com/localnews/opinion/editorials/stories/PE_OpEd_Opinion_D_op_04_ed_ucpensions.8cf782.html
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