Paine College Unable to Make Payroll

Paine College, a historically black institution in Georgia, announced Friday that it could not make its most recent payroll. A statement on the college's website said Paine was hoping to make up for the funds soon, perhaps within a week. The Augusta Chronicle reported that Paine told creditors it would make payroll by "no later than Jan. 8." But the Paine website statement said that it was "not true" that employees won't be paid for the rest of the year. The statement said that "no final decisions have been made" about any future pay.