Yesterday recap....cannot do the Wayne Reynolds testimony or Harry Hopper testimony/day just yet because theres still cross examination. The short hand version of Dr. Stephen Knapps testimony from 7/29 includes: GW would give nothing to the Corcoran trust but in the deal, GW will get: - The Flagg building est value $50 million to $116 million - Fillmore school – est value $10 million - $35 million, possible $10 million more in cash or securities, for a total of $45 million per the deal documents - Corcoran name and brand - All curriculum and academic materials He reiterated that there is no plan to keep full-time faculty beyond the one year contract, no plan to offer tenured positions, and adjunct faculty will only receive contracts per semester. GW would pay up to $80 million to renovate the building, that it would own. It does not plan to sell it. But it does plan to possibly use it for offices, fundraisers, and classes for other majors. The public GWU/NGA/Corcoran deal documents do not require GW to: 1) Spend any money on renovation 2) Have a timetable on renovation, or to do it immediately 3) Show student work in the second floor galleries (that currently host NEXT) 4) Require NGA to permanently display art NGA is not guaranteed by deal documents to inhabit the space in perpetuity. But they do get to keep whatever they want from the collection. The AG said that some art might end up in DC government office buildings??? Wait, what? DOES THIS SEEM LIKE A GOOD DEAL TO YOU? Knapp had not read the Corcoran founding trust document, that the very trial was about, and he did not know the current tuition at the Corcoran. This article seems particularly timely: But Yearly debt payments have more than doubled since 2003, and the financial burden is one of the strongest forces keeping the University tied to tuition for 62 percent of its revenue. blogs.gwhatchet/newsroom/2014/07/24/universitys-debt-reaches-all-time-high/
Posted on: Wed, 30 Jul 2014 22:36:00 +0000
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