Penn State Weighs Borrowing $30-Million for Athletics
Penn State trustees may be asked to approve $30-million in borrowing to help its Athletic Department cover costs resulting partly from the Jerry Sandusky child sexual abuse scandal.
PennLive.com reported Thursday that the request would be part of a $750-million borrowing package that trustees will consider Friday.
The Athletic Department posted a $15-million profit as recently as 2011. But university Controller Joe Doncsecz says its expenses outstripped revenues by $6-million this year.
Needs covered by the borrowing include up to $25-million in short-term capital needs, a $10-million line of credit and millions more to cover debt service on the $60-million fine the NCAA imposed for the Sandusky scandal.
Athletic Director Dave Joyner says the department should be in the black by 2018.
Monday April 21st
James B. Huntington, PH.D
Choosing a Lasting Career
The Job-by-Job Outlook for Work's New Age
Work's New Age Blog
Tuesday April 22nd
Wednesday April 23rd
GPX Karaoke Party Machine
with CD and G&CD player, professional microphone
and other features, $79.99 new, newver used,
new-in-box - $50
Gibson Imperial Dinnerware Set
16-piece, porcelain, never used,
Monday April 14th
Dr. Gabe Mirkin
Dr. Gabe Mirkin on Fitness & Health Facebook page
Dr. Mirkin on Twitter
Tuesday April 15th
Wednesday April 16th
Thursday April 17th
Adam Conrad - Real...