Friday, June 23, 2006

HBC / Bailed Out By Who?





I was happy when I heard about someone coming to the rescue, of Lemoyen-Owen college. They had to raise $1 million by June 30th. Had it not been for the anonymous donor. It doesn't appear they were going to reach their goal. Much to my disappointment. They had only raised about half the money. In spite of threats of closing the doors. It didn't mobilize the schools impressive alumni list. Had it not been for the 11th hour offer. Lemoyen-Owen college probably would be closing their doors. Now they won't have to do that. Click on the link below for more details:

http://www.commercialappeal.com/mca/education/article/0,2673,MCA_22897_4798406,00.html

A lot of people overlook, who we have as a citizen of Memphis. Fred Smith is like a local Bill Gates. It's not like they don't know who he is, they just don't understand. Fred Smith and his company FedEx, are a big part of the Memphis landscape. The city would suffer a tremendous lost, if they should be headquartered elsewhere. To keep a college open in Memphis, is an investment in their future. It will keep them with a source of part-time workers. Students make excellent employees. If they want to work. Plus it gives them the first shot at graduates. To educate workers, that will best serve you. What better than to have your own school. I listened to Bill Gates, the owner of Microsoft. He has taken a particular interest in education as well. I think CEO's foresee a shortage of qualified workers. Locally I think we are already experiencing that. Too many young people can't even count money. Let alone fill out an application. With FedEx being one of the biggest employers, in the city of Memphis. I'm sure he has made that observation as well. Since the donor of the money is anonymous. We just have to wonder who the generous individual was. That's just a theory of mine. Considering the mindset of some of the citizens. Even though they aren't going to school, and didn't donate a dollar. They would have a problem . If by chance I was right. It might be better , if they don't know. I know it shouldn't matter, but it would. Then again maybe it should. Blacks need to support their own causes. Not saying we shouldn't get any help. But we should lead the cause.

I heard all the people yesterday, on a live radio broadcast. Coming out and making their donations. And issuing their challenges to other fraternities and sororities, and other professionals. Every Black judge running for office. Had a story to tell along with their donation. Considering the total they collected. It was more of a political rally, than it was a fundraiser. With all the testimonies, I heard on the radio. The school shouldn't be in trouble anyway. The anonymous donor wasn't foolish though. He had some stipulations attached. The same people won't handle this money. They have to construct a brand new board of directors. It will be interesting to see who is picked. The school has had a history of financial troubles. Practically from the start. See the history of the school below:

http://biobio.loc.edu/jharris/web/lochisty.html

11 Comments:

Blogger Common said...

It's amazing that nobody has commented on this subject so far. I know I have a lot of local readers. That have an opinion on this subject.This just goes to show. That we don't put our money where our mouth is. In other words we're, a lot of talk.

3:48 PM  
Blogger Blinders Off said...

Common:

What is there to talk about? When is enough…enough? I have no problem donating money when I am convinced the charity or organization is managing funds without mismanagement, LOC mismanagement has been going on for years. I could not see myself financially helping LOC when I personally have knowledge of the money schemes committed by former students and employees. Yes, I am glad an anonymous donor stepped up to save the school and had the mindset to have stipulations to his donations. If the donors request is honored, whomever they put in charge of LOC can learn something from Harris Stowe University. Harris Stowe was in a neighborhood no different than LOC to understand where I am coming from you must see the tremendous change in the development where HSU is located.


http://www.aaregistry.com/african_american_history/1618/HarrisStowe_St_College_a_St_Louis_positive

5:16 PM  
Anonymous Anonymous said...

I heard someone complaining about the donor.

6:00 PM  
Anonymous Anonymous said...

I agree with your theory Common.Where did this last second donor come from?

2:48 PM  
Blogger Common said...

Blinders-Off,

Obviously you don't live in Memphis. There was plenty of buzz about the money, before the funds were raised. That's all there was, was talk. Until the donor, they hadn't raised $500,000. I didn't make a contribution to L.O.C., turns out they didn't need my money. Good thing they didn't. The alumni didn't give enough either.I had the same ideas the donor has. I wasn't giving two and a half million dollars though. So my opinion was just one of many.

10:51 AM  
Blogger Common said...

Cordova TN,

I knew it was just a matter of time. I'm about to commit a stereotype. We know the donor wasn't Black. If he was, he would have to let you know.

10:56 AM  
Blogger Common said...

Anonymous,

I don't know who it is, but they have an interest, in Memphis education. The school is going to be run right, for the next year at least.

11:00 AM  
Blogger Blinders Off said...

Common:

How soon we forget, I live in Shelby County just not in the city limits of Memphis. I realized in the first year moving to Tennessee, I did not want to live in the city limits. I was aware of the buzz to raise money for LOC. My viewpoint about “what is there to talk about” is in my first post. I referenced Harris Stowe because LOC could learn something from them.

Have a safe 4th of July.

9:22 PM  
Anonymous Anonymous said...

I heard a interview with Dr. Wingate today. He is the soon to be ex-president of Lemoyen Owen college. It sounded like sour grapes.He was supposed to reveal another person willing to donate the money.I don't know who it was yet.

5:25 PM  
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