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

That takes "non profit school" to an extreme.

she bet big on a real estate deal and it didn't work out. hmmm. where have I heard that before ?

anders left her post in 2011, for reasons undisclosed. Her successor Christine Plunkett tried to bring more financial stability but failed, and in 2014, its accreditor placed it on probation. Plunkett resigned. In November 2014, interim President Mike Smith sold 25 of the original 33 acres to a local developer for $7.5 million. Of that, $4 million went to the diocese to pay for the land—Burlington College hadn’t paid for all of it yet—and the rest went to the school’s bank.

That wasn’t enough, leading to today’s announcement. Burlington College was always a fragile concern. Its website notes that in the early days, it “had no financial backing, paid its bills when they came due, and paid its President when it could.”

Jane Sanders’s plan to place a big bet on expansion in order to put the school on a more solid long-term footing was similar to decisions made by other college presidents, and sometimes those bets simply don’t work out.

a reply to: ugmold

Don't you know by now that anything negative about Trump gets more votes for Trump.

originally posted by: mOjOm
a reply to: Domo1

If you look into the story a bit deeper you'd find that the person to blame isn't Sanders who resigned from there 4 years ago but the new person who took her place, Christine Plunkett.
link

From everything that I keep reading Sanders Wife actually did a great job there and things were going very well. She resigned after her and the board of trustees disagreed and that is when the whole place started going down hill. Then 4 years later they are now in trouble.

So I'd say your OP is nothing but a hit piece against Sanders Wife that doesn't hold much water once you look into it a bit more. Not a shock to see something like that happening after all since the media is desperate to find something to put Sanders out of the Race. I guess they'll just have to keep trying as this one is easily exposed as a bunch of BS.

Really? Because this report was sent to US Attorney Eric Miller
www.wcax.com... which has the pdf link (blackpearl.wcax.com...)

Please note the part where she "steered hundreds of thousands of dollars of the non-profit college's limited resources to her family and friends."

The information has been known for quite some time. Maybe the media is making more of a deal out of it because the college is now closing because of her fraudulent actions.

a reply to: StoutBroux

The media is making more of a big deal about it now...because it supports Clinton...and Bernie keeps getting in the way of her coronation.

This is part of Crooked Hillary's behind-the-scenes 'Full Court Press' to put pressure on Sanders to get out of the race. This is just an intial shot across the bow...with promise of much more to come if Bernie doesn't bend at the knee to her.

originally posted by: xuenchen
a reply to: ugmold

Don't you know by now that anything negative about Trump gets more votes for Trump.

I know, so Right Wing.

a reply to: StoutBroux

It's a request for an investigation citing right wing media sources for basis.

a reply to: StoutBroux

Yeah and that report was sent to the DA by vice-chairman of the Vermont Republican Party Brady Toensing. Who is also the one pushing this whole issue including being the person who's trying to speak for the Catholic Church even the the Church also doesn't agree with him.

Catholic Church Rejects Claim That Sanders' Wife Caused Financial Harm

The vice-chairman of the Vermont Republican Party says Bernie Sanders’ wife has exacted a severe financial toll on the Roman Catholic Diocese of Burlington. But the bishop who oversees the Catholic Church in Vermont says the accusation is without merit.

Gee, imagine that. A conservative Lawyer and Activist has taken it upon himself to launch and attack at Sander's and his wife even though the Church itself who he's speaking for says his claim is without merit. Should we be shocked by this??? Hardly.

This is how socialists operate.

Take other peoples money, squander it, ruin the institution or nation they rule over, and then I'm sure they'll blame capitalism and republicans for it.

originally posted by: ugmold

originally posted by: Domo1
a reply to: ugmold

What are you trying to say?

Well you can make of this what you like, she is not the Sanders that is running for President.

Shall we look at Trump's failures? He is running for President.

Atlantic City

Trump Steaks (lol)

Trump U

GoTrump.com

Trump Airlines

Trump Vodka

Trump Mortgage

Trump The Game

Trump Magazine

Trump Ice

New Jersey Generals

Tour de Trump

Trump on the Ocean

The Trump Network

Trump Network

Trump New Media

Trump's companies that failed represent roughly FOUR to SIX percent of his total businesses.

That means a 96% success rate.

I dare you to pull that off, and I dare Bernie, who never had a real job until he was FOURTY YEARS OLD, to claim he's done anything remotely close.

And I'd like to see you take a Million dollars and turn that into ten BILLION in assets and worth.

Yeah, thought so.

a reply to: BatheInTheFountain

Yeah I'm not a Trump supporter...But at the end of the day at least he failed with his own money instead of screwing over students and taxpayers making gambles with money that didn't belong to him, as Mrs. Sanders has done here.

originally posted by: projectvxn
This is how socialists operate.

Take other peoples money, squander it, ruin the institution or nation they rule over, and then I'm sure they'll blame capitalism and republicans for it.

You obviously haven't read anything in this thread so far.

You just jump right to pushing your same agenda song and dance. Nothing but your opinions, no information regarding this OP or anything. Insults and opinions is all you bring to the table.

But had you read the info provided you'd see where your wrong and who's behind it. But of course that would mean actually learning something new.

a reply to: mOjOm

I've read the entire thread actually.

Aside from blaming Clinton and hearsay refutation I've read nothing in this 2 page thread contrary to the outcome suffered by this school at the hands of a Sanders.

originally posted by: projectvxn

I've read the entire thread actually.

Aside from blaming Clinton and hearsay refutation I've read nothing in this 2 page thread contrary to the outcome suffered by this school at the hands of a Sanders.

Well, you should read a little closer. Let's break it down step by step.

She was there from 2004 to 2011. During that time "The US Department of Education rated the financial health of the College at 2.3 or higher on a scale of minus 1 to 3.0, for the five fiscal years prior to Sanders' departure in 2011.

After she resigned within 2 years their rating went down to .4 and were deemed no longer fiscally responsible.

She resigned on good terms and nobody within the school or the church blames her or even mentions her as being part of this problem.

Everything so far mentioning her name or blaming her for being the problem has been put out by the vice-chairman of the Vermont Republican Party. Not even the Church which he is saying was cheated agrees with him and even goes so far as to say they don't want to be involved in any Political Mudslinging. They've said they are perfectly fine with the way things have worked out and have been paid more than the property was worth in the first place and have no issue with anything.

Every article so far coming out of that college or the local town don't even mention Sanders wife as being the problem. They mention the current Admin.

Their fall in rating and defaulting payments all came after she was already gone and new management had taken over. Everyone was fine and agreed with the purchase of that land when it was done. Now after she's gone and there is a problem a Republican Politician comes out spearheading this whole issue blaming Sanders Wife even without anyone involved agreeing with him.

So taking all that into account, I'd say what's happening here is pretty clear.

originally posted by: projectvxn
a reply to: BatheInTheFountain

Yeah I'm not a Trump supporter...But at the end of the day at least he failed with his own money instead of screwing over students and taxpayers making gambles with money that didn't belong to him, as Mrs. Sanders has done here.

He failed with investor money... that he didn't repay.

Anyways, this whole thing is ridiculous. She tried to expand a business and it backfired. It happens to lots of people. From the stories, she even managed the company properly and one could argue she had it on the right path. It's that the board didn't want to follow her anymore, went their own way, and then the college nosedived. We don't actually know how Sanders would have managed it, other than that the college was doing fine and expanding until she was removed.

originally posted by: mOjOm
a reply to: StoutBroux

Yeah and that report was sent to the DA by vice-chairman of the Vermont Republican Party Brady Toensing. Who is also the one pushing this whole issue including being the person who's trying to speak for the Catholic Church even the the Church also doesn't agree with him.

Catholic Church Rejects Claim That Sanders' Wife Caused Financial Harm

The vice-chairman of the Vermont Republican Party says Bernie Sanders’ wife has exacted a severe financial toll on the Roman Catholic Diocese of Burlington. But the bishop who oversees the Catholic Church in Vermont says the accusation is without merit.

Gee, imagine that. A conservative Lawyer and Activist has taken it upon himself to launch and attack at Sander's and his wife even though the Church itself who he's speaking for says his claim is without merit. Should we be shocked by this??? Hardly.

Well how about this article written 09/27/2011:

Purchase of the 200-student college’s new campus has created opportunities to “significantly grow the student body and fully realize the expansion of academic programs,” according to the announcement of Sanders’ departure. But her goal of doubling enrollment before the end of the decade could be tough to achieve, and millions of dollars more need to be raised to complete the new campus renovations.

After Sanders became college president in 2004, Burlington College initially experienced a decline in enrollment and, after a few years, faculty discontent. In an open letter to the trustees released on Sept. 21, former faculty member Genese Grill described the atmosphere in harsh terms. Staff, faculty and students “have been reduced to silence and fear of retribution by what can only be described as a pattern of intimidation, spying, and targeting of critical voices,” she wrote.

Grill described a closed and hostile environment, claiming that Sanders frequently yelled at staff and managed to eliminate anyone who voiced criticism. In the letter, Grill claims that “many concerned voices were forced out by continual abuse and by eventually being offered humiliating and unfair contracts in which they were demoted below people who were, in many cases, less qualified for their positions.”

In the last six years, about 40 people have left the school, Grill estimates, “most (if not all) deeply disillusioned with the institution and its processes, most harboring bitterness and deep regret.”

vtdigger.org...

Bolding in the above is mine. But wow, I mean WOW, she sounds like a SWELLLL first lady. Maybe that's how she keeps Bernie in line.

And the Catholic church can reject claims of wrong doing all they want. But the facts speak for themselves. Under Sanders, Burlington College made a bid for said amount of certain property held by the Catholic church. The college couldn't make the promised loan and the church took a 2 million dollar loss on the original loan contract of 10 million dollars.

But, get this. The property was only valued at 6 million. Why was a 10 million dollar offer made?

“We don’t obviously want to get involved in any political battle involving presidential candidates,” Coyne said Monday afternoon. “We’re not pushing this at all. We’re satisfied with the outcome (of the sale to Burlington College).”

Coyne says an appraisal of the property prior to the sale yielded a $6 million valuation.

“At the time, we were very satisfied with the $10 million purchase price on a property that was assessed … at $6 million. So the offer from Burlington College was about $4 million more than the property was worth,” says Coyne, who was not bishop at the time of the transaction.

digital.vpr.net.../0

For a college with limited funds, who over bids a property purchase by $4,000,000 of the assessed value?????

a reply to: StoutBroux

For a college with limited funds, who over bids a property purchase by $4,000,000 of the assessed value?????

The kind of people who think spending 18 trillion dollars to add to the current 20 trillion dollar debt is a good idea.

a reply to: Aazadan

Investors put in their money KNOWING there's a risk they could lose it all. For the most part, unless Donald Trump did something not in good faith, or patently illegal in any of those ventures, he isn't really required to pay it back. It was never a loan. Direct investment is a calculated gamble and sometimes it doesn't pay off.

That's how capitalism works. Failure is part of life and the market. If you look at every successful person their history is replete with examples of personal and professional failures.

Like I said, I'm not a Trump supporter. But the idea that someone should never have failed in life as a qualifier for president is simply childish bull#.

a reply to: projectvxn

We're so far into this and there are still people who believe that the 18 trillion is in addition to current expenditure rather than a replacement for a program that costs more than that over the same time span?

Please tell me you're lying on purpose.

a reply to: Domo1

Burlington College accredited my company's training programs so this totally sucks. Now people who go through our training programs won't get college credit