[Alumni-chat] 2 Million in 10 Days, WHY?

[dl bahr]

We are told that a "historic moment" has come for Antioch College and that a new collaboration is being forged between the Alumni Board, the BoT, the Chancellor and other key stakeholders.  Agreements in Principle between AU BoT and Antioch College Alumni Board have been proposed in a final document dated November 2, 2007.

The document states that a "temporary restricted account will be set up."  Where? Will this account be part of "the Antioch University Merrill Lynch account that is used for non-endowed investments?"

1)  Why does AU need 2 Million dollars within 10 days?
2)  Will this "temporary restricted account" be set-up within 10 days?

By December 15th, 2007 a total of 6.6 Million dollars is to be paid by the Antioch Alumni Board to Antioch University to be used "solely" for Antioch College.  

According to the Agreement in principle the 6.6 Million among other things would be used for "repayment of obligations to the University."

My chief question:  Why can't the University wait for its repayment of obligations until Antioch College regains its strength?  What is the rush?  What does Antioch College owe Antioch University?  

I scratch my head in wonder at the twist and turns of this enterprise.  
What concrete autonomy has been established for Antioch College?  Alumni deserve accountability for the funds they are raising in the name of their Alma Mater. 

Lesley A. Pownall Bahr
Minnesota

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