Actually, you are talking people with graduate degrees - our college requires MAs and prefers PhDs even for part-time work in programs that offer degrees (which is increasingly common.) And it's impossible to recruit quality people because the college part-time contract is crap - our PT people are making far less than what they can at universities in the area.  We have lost many to better-paying gigs elsewhere, even though our degree-level college program is making a considerable profit.  

Direct your outrage to the burgeoning number of administrators - all of whom will be paid if there's a strike.  Our profit is sustaining their existence, and the return on investment in their jobs is suspect at best.