[Oops. I was confused about the dates when I posted this query this morning about a meeting that hadn't happened yet. Cheng's report was at a preliminary meeting on the 13th. As the comments already indicate, reports from the meeting today--the 14th--are coming in, as on Kristi's post over at SIUC Unions United. Dave.]
Here's a new twist, where you tell me what happened, rather than me attempting to tell you (or at least point you to those who will tell you). The Southern ran a brief story on the BOT meeting on the 14th, but was silent on any union statement made there. The story notes that Cheng compared us to peers selected by the IBHE; our costs are similar, but we serve a more diverse and financially strapped student body, and have more trouble with attrition. Obviously the financial stress our students is one reason our retention rates are lower than those of our peers, as I hope Cheng and the BOT noted (though the story did not). I would guess that the financial stress effecting our prospective student pool also explains a great deal of our enrollment troubles. Surely someone has studied college attendance rates for such students. Inside Higher Ed just ran a story on the recession and enrollment, but it didn't help me much.
Oops, there I go playing the source of all knowledge. What did the union statement say? I'll bet some of you reading this were there and can fill the rest of us in.