New York is in the midst of graduation season, when freshly minted scholars don cap and gown to accept sheepskins and jobs they will probably remember as their most demeaning. But first they'll have the opportunity to ingest the wisdom of their commencement speakers. Also, it's an opportunity to get on TV and be tackled by security guards. David Letterman ran a top-ten list of signs that you have a bad commencement speaker. Shockingly, no......

The Chronicle of Higher Education released its annual salary survey of the heads of educational institutions and the value of a college education is evidenced in the paychecks being cashed by institutions' presidents. More than a dozen heads of private universities took home more than $1 million during the 2005-06 school year. According to the New York Post, the dean of higher earning was Donald Ross, who took home $5.7 million--most in deferred compensation after......