Based on this link from Orangebloods.com (I know, I know... read with a large shaker of Morton's salt) http://texas.rivals.com/content.asp?CID=1263940 , this says that Oklahoma is determined to join the Pac-12, Colorado will sue them to keep the conference from moving to East & West Divisions. Meanwhile our intrepid commissioner, Dan Beebe, wants the other schools to "work on Texas". Work on Texas to what? They aren't going to give up the LHN. They probably CAN'T seeing as they signed a big money deal with ESPN. Get Texas to go to the PAC? Doesn't stop the incoming lawsuit from Colorado.
Maybe someone can send this as a fax-bomb to Beebe's office. Theodore Roosevelt once said "In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing." Dan Beebe isn't doing anything. So Dan, here's a free plan for you to implement if you TRULY want to save this conference.
* Get Oklahoma on board. To save this conference, and your job, you have to. And implement equal revenue sharing.
* Let Texas A&M go. Let them go. You can't really keep them anyway. Let them go and replace them with BYU.
* Add the 2 strongest teams (geographically considered) to get back to 12 teams. One of those teams is probably Houston. That reconstitutes the South Division with Houston replacing A&M. So with BYU in the North replacing Colorado, you need to add one more team. I think you'd have to consider all of the following teams:
TCU. Probably would include a Big East lawsuit. Let's say no.
Boise State. Offer them membership if they get rid of that stupid blue turf. Would incur significant travel expenses.
New Mexico. The only benefit might be a new TV market. New Mexico isn't very good since they fired Rocky Long.
Wyoming. Geographically, might make the best fit.
Memphis. Probably the only other realistic fit, due to geography and enrollment (unless you want to try poaching a Big East team).
So lets say Beebe actually does something and adds BYU and Memphis. He added a team that's good in football (BYU) and great in basketball (Memphis). He expanded back into two markets (Utah and Tennessee). Providing, of course, that Beebe could convince Oklahoma + Okie Lite and everyone else to stay. Would you feel more confident about the future of the B12 IF there were 12 teams AND equal revenue sharing?
Having 12 teams equals two things. 1, the current model of 'stability' seen in CFB today. I am not sure anyone REALLY wants realignment. 2, gets the conference back to a conference championship game, which brings in more money.
BUT MOST IMPORTANTLY: DON'T DO NOTHING. WHICH IS WHAT YOU, DAN BEEBE, ARE DOING.