Liberty University has just sold $100 million in bonds, bringing its total debt to $228 million, to finance expansion, Bloomberg reported. The Christian university has $225 million in projects planned in the next five years, including a library, a baseball stadium and a school of health sciences.
An independent panel has found numerous management problems in the massive building campaign by the Los Angeles Community College District, The Los Angeles Times reported. The newspaper drew attention to the problems in a series of articles last year -- the findings of which were initially disputed by the district. But the independent review has found many of the problems identified by the newspaper -- problems that led to numerous cost overruns and delays.
Rodney Erickson, the new president of Pennsylvania State University, pledged to alumni Wednesday that the institution eventually would honor Joe Paterno, who was fired as football coach in November amid a scandal over Penn State's handling of child sex abuse charges against one of his top assistant coaches, Jerry Sandusky. USA Today reported that Erickson, speaking to hundreds of alumni at a town hall meeting in Pittsburgh, said: "There is no plan in place at the present time, but there will be. I can't tell you yet what it will be or when it will be, but we will publicly honor Joe and his wife, Sue, for all the many things they have done for the university, both from an athletic standpoint and an academic standpoint."
The meeting was the first of several in which the university is trying to repair its relations with alumni frustrated over the scandal. A Reuters account of the meeting said that many alumni criticized the university for not being more open about its response to the scandal, and many also questioned why Paterno was fired. Erickson pledged to be more transparent. He said that the university spent $360,000 on crisis communications during November.
Gordon Gee, president of Ohio State University, got himself in trouble Wednesday, when he compared the decentralized nature of university governance to the Polish army. In a speech in Columbus, he said, “When we had these 18 colleges all kind of floating around, they were kind of like PT Boats, they were shooting each other. It was kind of like the Polish army or something. I have no idea what it was," according to an Associated Press account. In the past, Gee has raised money for groups that he has offended, and he suggested that he may have to do the same here, saying, "I’ll have to raise money for Poland now."