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re: 2012 revenues per USA Today
Posted on 5/8/13 at 3:12 am to texashorn
Posted on 5/8/13 at 3:12 am to texashorn
quote:
To make that out as some sort of plan by Bill Byrne is ridiculous.
who do you think leaked it to the paper 4 years after the fact? And then a month later made layoffs
Bridge loans happen all the time. They generally are not part of the public record because it's just cash flow, not profit/loss. Most businesses have lines of credit to handle such things. ADs use the university. You are being totally naive here. Hell we showed a 40m net profit this year and you are seriously challenging if we paid back a 16m bridge loan from 10 years ago?
1
Posted on 5/8/13 at 3:38 am to tmc94
You are saying BYRNE leaked the $16 million loan?
What a load!
LINK
Soon thereafter, this university president was run out on a rail.
You are saying that Byrne leaked all this to weed out people in the athletics department finance section that he wanted gone? I don't believe that, but it totally backfired, as Byrne was left with egg on his face, and the university took over the athletics department's fiduciary duties. The ensuing audit was highly critical of Byrne, who also was run off.
You're goddamnn right I am.
The problem persists to this day:
LINK
Face it -- when Texas got the Longhorn Network, coupled with the financial difficulties within the A&M athletics department, you peckerwoods needed cash fast, and that's why you left the Big 12 for the cozy financial confines of the SEC.
It was all about $$$$, which you need(ed) badly.
What a load!
quote:
The most recent open records request answered by Texas A&M involved documents tied to a $16 million loan given to the Athletic Department - a line of credit made public only because (former A&M President) Murano mentioned it in a self-evaluation during her performance review.
Former president Robert Gates initiated the loan but never signed a contract, prompting Murano to get one signed soon after she learned about within months of taking office.
The documents obtained by the newspaper show at least one request by the Athletic Department to have the loan "forgiven." E-mails and interviews with officials reveal a department in turmoil as the flagship university's finance department takes over the checkbook for the Athletic Department.
LINK
Soon thereafter, this university president was run out on a rail.
You are saying that Byrne leaked all this to weed out people in the athletics department finance section that he wanted gone? I don't believe that, but it totally backfired, as Byrne was left with egg on his face, and the university took over the athletics department's fiduciary duties. The ensuing audit was highly critical of Byrne, who also was run off.
quote:
are seriously challenging if we paid back a 16m bridge loan from 10 years ago?
You're goddamnn right I am.
The problem persists to this day:
quote:
"We don't have a lot of financial maneuverability here in the athletic department right now," Hyman said. "But hopefully, when the [SEC] television network comes on in a couple of years we'll have more flexibility."
LINK
Face it -- when Texas got the Longhorn Network, coupled with the financial difficulties within the A&M athletics department, you peckerwoods needed cash fast, and that's why you left the Big 12 for the cozy financial confines of the SEC.
It was all about $$$$, which you need(ed) badly.
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