"The alternative is that the U is a very poorly run organization with entirely ineffective leadership"
Respectfully...I think that the last 20 years have proven that this is the most likely scenario.
Let me tell you where you are going wrong my friend....you are trying to apply logic and common sense when analyzing the actions of the BOT. Remove all logic and common sense to your analysis and then it all makes perfect sense.
No but we are usually so lazy in our searches that we only come up with a couple of names. I guess we are lucky that one of the two names we came up with this time is good.