At a conference held with the Board of Regents on Monday, UA President Mark Hamilton presented a plan to purchase a Bombardier Learjet 45 for travel back and forth to his home in Anchorage.

The plan, which proposes to increase UAF tuition by another 15% for the 2007-2008 school year, and then another 10% the following year, will utilize the university's line of credit for the estimated $7.1 million purchase.

"We have to look at the big picture here," said Hamilton at the conference. "If I don't have a personal jet to take me back and forth between my homes, what do you think that says about us? To other schools? To possible investors? It says that we're fucking slobs is what it says."

In a surprise move, the Board of Regents offered little objection to the proposal.

Board member Cathy Sondain, however, offered a possible alternative.

"Couldn't we just buy you a nicer car? I think an elegant Rolls Royce or Mercedes Benz would send the same message, that we care about our president and that the University of Alaska is a legitimate school."

Hamilton then locked eyes with Sondain in what appeared to be a stare of ritualistic challenge.

"You want to…you want to give me a car? A fucking car?" Hamilton then lunged over his podium and onto Sondain where the remaining Board of Regents quickly removed him.

Hamilton, after composing himself, said, "I'm going to have a jet. And it's going to cost $7 million dollars. You figure out the rest."

Hamilton then displayed his right hand, with two fingers in the shape of a "V," while shouting "Peace!" before exiting the room.

The Board of Regents will vote this Friday.