Category Archives: News-updates

Nonprofit Student-Loan Guarantor to Buy Commercial Colleges

Educational Credit Management Corporation, a nonprofit that has drawn fire for its tactics in collecting student loans, is buying nearly half of the campuses run by Corinthian Colleges, a soon-to-be-defunct for-profit colleges operator, The Chronicle of Higher Education and Bloomberg report. The $24-million deal, announced Thursday and expected to close in January, will see the credit group take over 56 of Corinthian’s 107 colleges and become the country’s largest nonprofit operator of career sc…

Abuse Suits Have Twin Cities Archdiocese Mulling Bankruptcy

Facing a budget hole and an expected wave of clergy-abuse lawsuits, the Archdiocese of St. Paul and Minneapolis said Thursday that it is considering filing for bankruptcy, the Star Tribune and the Associated Press report. The announcement came as the church released financial documents showing it ran a $9.1-million deficit in fiscal 2014 and has spent more than $4-million in the last year and a half to address allegations of sexual misconduct by clergy.

The archdiocese said abuse claims would li…

$115-Million Gift to Establish Toronto Heart-Health Center

Three Toronto medical and educational institutions will share a $115-million donation from the family of a late media mogul to fund a new center for cardiac health, Canada’s National Post writes. The Ted Rogers Centre for Heart Research will be named for the cable-television magnate, who was being treated for a heart condition when he died in 2008 at age 75.

The Hospital for Sick Children, University Health Network, and the University of Toronto will match the support from the Rogers family. The…

Debt at N.C. Civil-Rights Museum Prompts City Takeover Bid

A Greensboro, N.C., museum of the civil-rights movement owes $25.9-million to creditors and has little or no money on hand, writes the city’s daily News & Record. The International Civil Rights Center & Museum’s financial state prompted Mayor Nancy Vaughan, a member of the institution’s board, to propose this week that it be folded into city operations,

The motion was tabled indefinitely by the museum’s board and was criticized by the local NAACP. The museum—which commemorates a 1960 protest a…

Weak Giving and Sales Swell Tide of Red Ink at Metropolitan Opera

The Metropolitan Opera’s operating deficit grew roughly eight-fold to $22-million in the 2013-14 season and was the company’s highest in 30 years as a percentage of its budget, reports The New York Times. Weak fundraising and box-office revenues and costs associated with a contentious labor dispute swelled the shortfall, according to preliminary numbers the Met released Thursday.

The deficit figure does not reflect deep reductions in wages and administrative spending the opera is set to impose u…

Alumnus Pledges $25-Million for U. of Maryland Sports Complex

Kevin Plank, the chief executive of athletic-apparel company Under Armour and a former University of Maryland football player, has promised $25-million to his alma mater for a planned makeover of a campus arena, writes The Baltimore Sun.

With the Plank gift, to be formally announced Friday, the school has raised nearly half of the $95-million in private money it is seeking to turn 59-year-old Cole Field House into an indoor football practice facility that will also house a sports-medicine center…

Many Products at 9/11 Museum Gift Shop Not Made in U.S.A.

Bloomberg reports on the plethora of items for sale at the National September 11 Memorial & Museum’s store that are made abroad, generating complaints from some 9/11 families and survivors’ groups and a New York congressional representative. Products like I Heart N.Y. mugs, American flag scarves, and toy New York Fire Department trucks are manufactured in Thailand, India, or China.

“The fact that products sold at the 9/11 Memorial Museum are not made in the U.S. is not only upsetting but simply …

Students Sue Harvard Over Fossil-Fuel Divestment

A group of graduate and undergraduate students sued Harvard University Wednesday over its refusal to divest from fossil fuels, according to The New York Times. Alleging “mismanagement of charitable funds,” the seven plaintiffs filed an 11-page complaint in Massachusetts’ Suffolk County Superior Court.

Harvard president Drew Gilpin Faust announced in April that the university would examine “environmental, social, and governance factors” when managing its endowment. That language, however, didn’t …

Opinion: Is Detroit’s Close Call a Wake-Up Call for Museums?

In the wake of the Detroit of Institute of Arts’ escape from being forced to sell works to help pay the city’s creditors, a Wall Street Journal culture writer looks at the risks faced by other art museums whose collections are fully or partly owned by government bodies.

After more than a year of legal wrangling and hundreds of millions of dollars in pledges from foundations, a judge earlier this month approved a plan for Detroit’s bankruptcy reorganization that safeguards the museum’s holdings. …

Liberian Leaders and Aid Groups at Odds Over Ebola Response

Minutes of high-level meetings between Liberian officials and international aid agencies, obtained by The New York Times, show clashes over planning, coordination, and allocation of resources that are hampering the fight to curb Ebola in the West African country. More than a hundred government and United Nations agencies, charities, and donor groups are involved in the sprawling response to Ebola in Liberia, which has seen reports of new cases drop sharply in the past two months.

Detailed accoun…