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 Post subject: (A) Sanders runs Vermont university into insolvency
PostPosted: Mon May 16, 2016 5:39 pm 
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http://heatst.com/politics/breaking-bur ... e-sanders/

Quote:
BREAKING: Burlington College Closes Due To “Crushing Weight of Debt” Acquired By Jane Sanders


By Jillian Kay Melchior| 1:32 pm, May 16, 2016

Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

At the end of 2010, Ms. Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement.

As Heat Street reported last month, the college almost immediately fell short on its financial obligations as fundraising pledges and commitments Ms. Sanders cited in the loan agreements never materialized.

Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package. By 2014, because of its shaky finances and running deficits, Burlington College found itself placed on probation for two years by the regional accreditation agency.

A Burlington College news release issued this morning called these financial hurdles “insurmountable at this time.”

“We anticipate notice from [the regional accreditation agency] that we have not met the Commission’s financial standard,” the news release said, “and, therefore, our accreditation will be lifted as of January 2017, and the College will not be able to award academic credit after this time.”

Other Vermont colleges and universities will absorb current students, as well as those Burlington College had accepted for fall 2016.

Ms. Sanders, the Sanders campaign, and Burlington College’s spokesperson could not be immediately reached for comment.

Catholic parishioners in Vermont have called for an investigation into whether Ms. Sanders committed federal bank fraud by deliberately misrepresenting the amount that the college had secured in fundraising pledges as she sought financing for the land purchase.

As Ms. Sanders pursued financing for the land acquisition, she repeatedly said that Burlington College had received more than $2 million in fundraising commitments and pledges, according to numerous records.

But in fiscal year 2011, Burlington College raised only $279,000—though the college had earlier claimed to have secured $1.2 million in confirmed pledges.

Typically, between 91 and 94 percent of fundraising pledges come through, a recent study found after surveying more than a thousand nonprofits.

In January, Vermont lawyer Brady Toensing, who is also vice chair of the Vermont Republican Party, wrote a letter on behalf of Catholic parishioners to the U.S. attorney in Vermont, as well as the inspector general of the Federal Deposit Insurance Corporation, seeking a probe into whether Ms. Sanders fraudulently secured the loans.

The U.S. attorney, Eric Miller, confirmed that he had received the parishioners’ letter but could not comment on the status of any investigation.

Neither the Sanders campaign nor Ms. Sanders responded to Heat Street‘s inquiries in April about the loans, though a Sanders spokesperson told a local Burlington television channel that the allegations were “recycled, discredited garbage.”

— Jillian Kay Melchior writes for Heat Street and is a fellow for the Steamboat Institute.


A hint of what a Sander's presidency would be like?

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Mon May 16, 2016 7:27 pm 
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Well we've had other "hints" ... IIRC Bernie wants to get rid of all the banks ... so he doesn't much like the idea of money ... perhaps his wife shares that idea. In small groups were "communism" probably works ... "money" might not be needed ... but I haven't seen much evidence that those ideas scale up much beyond the tribe level.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 2:21 am 
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Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package.


Why did you write this in big bold black font? I would like to know what your stance is regarding people who take big severance packages as a result of their contracts. I have no problem to criticize such practices and question the morality of people who reward or get such high rewards despite contradictory evidence about their performance. But I am a leftist... and tomorrow I will say the same things about CEOs' compensation and morality in Wall Street. But since you are not a leftist and since your past words indicate that you do not have any big issue with the way CEOs get compensation, nor you question the basic morality of the current system of compensation, I am curious to see why you think it is interesting to mention that M Sanders took $200,000 severance package after she resigned. Is it because you feel it is immoral, wrong, not fair? Be brave and speak your mind... If you admit that it is immoral or wrong, you have my word that I will back you up 100% ;)
If you do not admit either of the above, then we can ignore the whole sentence as unnecessary gossip or perhaps a sign of envy regarding the economic condition of Ms Sanders. You, conservatives, do not envy other people, right? :lol: :lol:

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 3:35 am 
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M Sanders, like most college presidents, got her job through her political connections. She has no skills or talent, like most liberals. You are aware most universities are run by Bolsheviks, right?

Same goes for Wall Street. Chelsea Clinton made seven figures not working on wall Street. The Pig in a Pants Suit makes 600,000 for a twenty minute speech at Goldman-Sachs. I think John Kerry, Al Sharpton, and the rest of the liberal elitists should pay their taxes just like everybody else. Show me a Wall Street big shot, and I'll show you a liberal.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 8:18 am 
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pamak wrote:
Quote:
Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package.


Why did you write this in big bold black font? I would like to know what your stance is regarding people who take big severance packages as a result of their contracts. I have no problem to criticize such practices and question the morality of people who reward or get such high rewards despite contradictory evidence about their performance. But I am a leftist... and tomorrow I will say the same things about CEOs' compensation and morality in Wall Street. But since you are not a leftist and since your past words indicate that you do not have any big issue with the way CEOs get compensation, nor you question the basic morality of the current system of compensation, I am curious to see why you think it is interesting to mention that M Sanders took $200,000 severance package after she resigned. Is it because you feel it is immoral, wrong, not fair? Be brave and speak your mind... If you admit that it is immoral or wrong, you have my word that I will back you up 100% ;)
If you do not admit either of the above, then we can ignore the whole sentence as unnecessary gossip or perhaps a sign of envy regarding the economic condition of Ms Sanders. You, conservatives, do not envy other people, right? :lol: :lol:



The idea of a severance package does not generally concern me.
High level executives generally have such severance packages written into their employment contracts.
And severance packages paid due to changes in management, layoffs, etc also do not generally concern me.
In this case, Madame Sanders leveraged the college into insolvency, might have misrepresented borrower donations for the college to obtain that financing, and also may have misled university officials, contributors, etc., also in the process. There is incompetence, and then their is intentional deceit, which it appears may have been the case in Madame Sanders' actions (of course one is presumed innocent until shown otherwise).

The circumstances around this should be investigated and if criminal or civil wrongdoing is discovered, then she should be prosecuted, and they should try to clawback that $200,000 severance package.

Receiving a $200,000 severance package for running a university into insolvency (and possibly breaking laws or violating university policy) was where my concern comes from, and was why I emphasized that particular line.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 9:56 am 
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Quote:
oans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese,


The plot of Godfather 3.


She'll make a fine first lady.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 10:25 am 
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C_S wrote:
Quote:
oans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese,


The plot of Godfather 3.


She'll make a fine first lady.



:lol: That was pretty bloody funny.

At least when Michelle Obama takes a $400,000 no-show job she understands that she is not supposed to destroy the institution.

Bernie's wife does not look the role of a Senator's wife OR a college president. She looks like she oughtto have an orange safety vest and a hand-held stop sign.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 10:26 am 
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Sanders had ambitions of turning bc into a real college. 70 students learning in the ex grocery store in a "nontraditional" learning environment always was a recipe for failure. The problem was failing to secure higher enrollments prior to the move to the nice campus.

200K for a failed university regent is peanuts. Public Us pay that much for failure to thousands of faculty and deans on each campus every year.

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 11:47 am 
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chijohnaok wrote:
In this case, Madame Sanders leveraged the college into insolvency, might have misrepresented borrower donations for the college to obtain that financing, and also may have misled university officials, contributors, etc., also in the process. There is incompetence, and then their is intentional deceit, which it appears may have been the case in Madame Sanders' actions (of course one is presumed innocent until shown otherwise).

this .....
go figure right out of the playbook of the dark side of free market capitalism loopholes and tricks of double dealers and from Americas best loved fuzzy commie couple too .....don't that just give ya the trotskies and runs...Buh-Buh-Boiney is gonna be chugging some Imodium A.D. with that beet and wheat grass cocktail........
Even Shillary took note of that ploy for future use....

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 Post subject: Re: (A) Sanders runs Vermont university into insolvency
PostPosted: Tue May 17, 2016 12:18 pm 
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Rubbish.

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