Russo Park name OK'd, with conditions

[CajunT]

I don't think that's correct. I don't think they have put out a public announcement about donations but I think there have been some numbers given in different club meetings.

Coach Robichaux stated $7.5 mil was raised at the beginning of the season, but several other donations were procured during the silent phase. Did you hear something else, because I have not heard that most of the other $5 mil has been raised?

[CajunAmos]

Coach Robichaux stated $7.5 mil was raised at the beginning of the season, but several other donations were procured during the silent phase. Did you hear something else, because I have not heard that most of the other $5 mil has been raised?

That is the number I was referring, and that was at the beginning of the season with a larger number given as part of the phase II renovations.

[CajunT]

We didn't need $10MM to get started. We only had to raise 50% and Tony did that. Russo wanted to make annual donations. Who would turn down how the donor wants to contribute the funds to get a project you've been waiting started? And at the end of the day, T-Joe signed off on it.

The university doesn't have $25MM, but it sure as hell got Tier 1 done of the Master Plan.

If you remember, bonds were sold for Phase I in addition to Hudspeth and RCAF Board members going out to raise the difference in the actual cost of completion that was said to be over $30 MM. Also as you have stated, there is an APC Auxiliary Fee of $1.8 MM per year as well. But I'm not worried about the baseball stadium until we are told differently.

[CajunT]

That is the number I was referring, and that was at the beginning of the season with a larger number given as part of the phase II renovations.

I thought he said a total of $7.5 MM had been raised at that meeting? I could be wrong, but that is what I remember.

[CajunAmos]

I thought he said a total of $7.5 MM had been raised at that meeting? I could be wrong, but that is what I remember.

Yep

[cajunhawk]

When I sold my company to a NYSE-traded firm, all final number crunching was transferred to the parent. That's to say, my accounting department became a simple conduit for monthly income and expense numbers, nothing more. Final monthly numbers including depreciation, employee withholding, state and federal tax liabilities etc were all calcuated by the parent and presented to me at monthly meetings held in Houston. And for the record, before the sale took place I paid to have my previous 3 years of financial statements audited by a major firm out of Houston. This was, of course, to give any potential buyer more confidence that they were getting what they paid for.

I also recall the day of the sale signing non-compete, non-disclosure, patent protection and a myriad of other forms I don't recall protecting the parent and tying my hands. I'm sure that's pretty much standard procedure, especially for companies operating under SEC guidelines.

Very interesting. That would put the onus on the parent.

[Rebel02]

If you remember, bonds were sold for Phase I in addition to Hudspeth and RCAF Board members going out to raise the difference in the actual cost of completion that was said to be over $30 MM. Also as you have stated, there is an APC Auxiliary Fee of $1.8 MM per year as well. But I'm not worried about the baseball stadium until we are told differently.

I remember and that was the point I was trying to make. At no point have we had the money on hand for any phase. We've borrowed to get things done. It was my understanding from previous comments that any project outside of Tier 1 could be green lighted if 50% was raised. Bonds would likely be issued to cover the remainder to fund that particular project 100%.

[DaddyCajun]

HOPING this is just a bump in the road and will still happen at the conclusion of this year. There are two sides to every story... although the article does look pretty damming.

In the words of Kevin Foote, " No matter how flat a pancake, there is always another side to it!"

[raginsaints]

So I haven't read through this whole thing. We still renovating the Tigue?

[NewsCopy]

The UL governing board may vote as early as Thursday to name the baseball complex for a Lafayette oil business family.

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