Yeah, it is true that the administrators and tenured faculty at UO make very very generous salaries.  Replacements could be found at lower salaries and for any tenure track position that opens up, typically hundreds of applications are received.  But they claim at UO that they must meet rich school salaries to get the best.  Fact of the matter is that to teach undergrads, one does not need "the best."  There are many of good quality begging for positions.