From today's Chronicle of Higher Education (reg req'd) comes a story that the professors at Si Tanka University in South Dakota are threatening to walk off the job because they haven't been paid since February. The school failed to qualify for federal funds and evidently faces severe fiscal constraints.

However, the interesting tidbit was at the very end of the story:

Mr. Fryberger said faculty members had agreed to issue grades for the semester by the end of this week, so that students could have complete transcripts if they chose to move on.

Wait a second. Students will have "complete transcripts" for classes they did not complete? Would that we could all do this. Are the students buying into this? Probably, if they are myopic. However, the administration/professors at Si Tanka are doing their students a disservice.