[Alumni-chat] [SaveAntioch] Has the Lawsuit preempted alumniefforts

[dl bahr]

Good luck with the injunction.
We hope to send a check soon to faculty defense fund.
Reading your comments reminds me of an organization I would like to start--I 
always thought it had an Antiochian flare:  "The Local Pedestrians"    I 
might just invite Sister Sara to be its first member.  I am not sure Bob 
could handle it but I might consider his application.
Lesley A. Pownall Bahr '83
Buffalo, MN


>From: "bdevine (bdevine at antioch-college.edu)" 
><alumni-chat_forum at antiochians.org>
>Reply-To: Alumni Chat List <alumni-chat at w3.antioch.edu>
>To: alumni-chat at w3.antioch.edu
>Subject: Re: [Alumni-chat] [SaveAntioch] Has the Lawsuit preempted 
>alumniefforts
>Date: Fri, 17 Aug 2007 09:56:52 -0500
>
>Sister Sara writes:
>
>Ted, I expect the faculty suit will be settled with an agreement on some
>sort of severance package.  The harm done to the faculty is essentially  
>loss of
>economic security and perhaps career or professional damages.  But  it is 
>hard
>to argue that an organization operating at a deficit over a number of  
>years
>should continue to operate so as to acquire an even greater deficit, as a
>means of contributing to employees economic security and well being.   
>Non-Profit
>Corporate Law makes the trustees of a non profit the fiduciaries for  that
>organization, and if the BoT can demonstrate during what ever kind of
>discovery/hearing process is required, that they made a reasonable business 
>  decision
>given the facts at their disposal and the consultants they employed to  
>advise
>them, the argument that one should stay open and pile up more debt will  
>not
>get much sympathy from any judge.  If the judge is sympathetic to the  
>faculty
>there may be pressure to negotiate a severance package as settlement --  
>and
>the BoT will have to weigh that against things like community good will,  
>costs
>of further litigation and all the rest.
>
>Sally,
>
>The faculty is seeking an injunction to
>
>(a) Stop the closing.
>
>(b) Protect the assets.  Already there have been surveyors and parties 
>examining buildings on campus, already there have been office moves to 
>empty certain buildings -- for mothballing or for demolition, we don't 
>know.  Already there have been offers to some outside of Yellow Springs to 
>buy property.  We have no idea what happens to endowment earnings and 
>growth in the short term, and are uncertain about outcomes for the Coretta 
>Scott King Center and the Glen.  The assets used by the College need to be 
>protected.
>
>(c) Prevent further damage to the College and its reputation.  Announcing 
>the closing publicly (actually before announcing it on campus), the Board 
>did substantial damage to the prospects of the College -- in recruitment of 
>students, in retention of current students, and in fundraising.  Since the 
>announcement, University staff and Trustees, and even the College President 
>have made disparaging and damaging comments about the College, it's 
>programs, its students and its faculty.  If this continues, the failure of 
>the College will be a kind of self-fulfilling prophecy.
>
>Accomplishing the above through an injunction would allow the Alumni Board 
>and others sufficient time to organize, to raise money, to develop detailed 
>plans and to seek avenues of negotiation.
>
>It seems to me that the law firm retained by the faculty has a bit more 
>knowledge, savvy and insight than all the sidewalk supervising and 
>pedestrian opinions that you might provide.
>
>Bob
>
>
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