During an afternoon hearing in front of a judge, bankruptcy administrator Brian Behr told the court he took a tour of the campus, saying it was in “much better shape.”
I recently drove by the campus and it looks apocalyptic. How in the world could it be in better shape?
They mowed the grass
Is the eventual path forward here that the school liquidates and the land is sold off to cover debts?
I drove by a week or so ago, looked like they could film a episode of Walking Dead over there without making any adjustments.
[It] is considering selling part of its campus to help pay off its debt.
Saint Augustine’s filed for Chapter 11 bankruptcy last month, saying it owes between $50 million and $100 million to creditors.
Officials said the university has just $426,000 in cash on hand.
An attorney for the school said leaders are exploring the possibility of selling a portion of its 105-acre campus, which is valued at about $200 million, to help cover what’s owed.
Sell half the campus to pay off the debt and then what? You’re still in this same situation with a lack of students and resources. This is a slow sad death at this point.
Silver lining in this story is that there are currently no further students getting absolutely CONNED by this failed university anymore. At the end of the day, that’s truly all that REALLY matters when it comes down to it: are the students who are taking on loans to get a college education actually getting a quality education?
I’m pretty sure I read in an Indy News article that there were several million dollars in unaccounted for cash withdrawals from their accounts. If that’s true, how is no one being sent to jail?
This article also says they’re requesting additional funding to “keep the school open.” But if they have no accreditation, no students, and no faculty, can they still legitimately be considered a school?
My GOD wral website is cancer. Literally froze my computer up just opening the damn link.
Anyway, it’s really starting to seem like somebody (bodies) WILL be going to prison…
If I recall - 3 or 4 years ago (maybe more) they estimated ~12 million in spending was unaccounted for. They said wires and payments were made with no back up information, references, notes, invoices and often any approvals. Last year I read the 4 or 5 years worth of audits that were finally completed and they had basically zero accounting, spending and purchasing controls or processes. So for several years it was the wild west in the finance department.
Wow. They could run for president with that sort of spending behavior. Do they do reflecting pools?
Dr Prezell Robinson, President of St Aug’s 1967-1995, died yesterday at age 105. His time as President was very successful and created a legacy that, unfortunately, subsequent Presidents found difficult to retain. He served in the Army during World War II, graduated from St Aug’s in 1946, and went on to get a PhD in sociology from Cornell. Universally respected. I had the pleasure of meeting him once. I’m not sure how alert he was during his final years but the travails of St Aug’s would have been very hard on him.
Holy Moly! He lived until 105 years old. That is incredible!
I’ll add that Livable Raleigh was helping with these efforts.
What is even happening? Is Shaw trying to rezone it? Why would anyone be opposed to this
The rezoning was already successful and was applied some years ago. Nothing has really happened since. The site they built for it was last updated in 2024
Doesn’t Shaw’s financial sovereignty depend on the potential development that these people are protesting?
Do people realize how great their lives are if they have the time and resources to protest theoretical buildings? Is there not some kind of moral injustices being perpetrated in the world that are actually harming people we could be protesting…
