Fundamental Advisors paid ~$24MM for the $72MM of bonds the Redbirds Foundation defaulted on in 2009. Obviously they thought they'd be making a killing on the deal.
Too bad guys, get your big girl panties on, you're about to take a nice loss, unless, of course, if the wizards in city hall decide the taxpayers should eat it.
Shouldn't be oo hard for, even, city hall to figure out that "Fundamental Advisors" really doesn't have any options other than to take whatever is offered. The property has no other use than as a ballpark. The city also controls any zoning decisions.
These buzzards are scavengers who bought a lottery ticket for about 30¢ on the dollar hoping to double or triple their money in a few years. They sure didn't show the original bondholders any mercy, did they???
Using racism is tired. Don't you think that if minorities were given the same considerations as the whites, you would still hear claims of racism? When you work at a place that only calls for a high school education and you see that 60, 70 percent of the jobs are held by whites, what is one to think? When you see corporate headquarters and no blacks in the executive suites, save Vice President of Human Resources, what is one to think? When you see whites getting better (lower) interest rates than whites with the same credit ratings in purchasing property, etc., what is one to think? When you see small businesses owned by suburban whites that depend a 100% off of minorities but yet have no minorities employed there, what is one to think? When a tenured white teacher that has taught black kids for over ten years make a public statement when black kids are bused in to a, mostly white suburban muni, it will cause trouble and property values to fall, what is one to think? If it were reversed, would you want that black teacher tha made statements like that teaching your kids? When you see the president of the U. S. being disrespected by whites worse than any president has been in history, his loyalty, birth, etc questioned, what would you think? When you hear the disrespectful talk about the first lady, one who graduated from high school, second, who graduated from Princeton, summa cum laude, received a J. D. from Harvard, what would you think? A president that graduated from one of the most prestigious private high schools in Hawaii, graduated from Columbia, graduated from Harvard Law with a J. D., magna cum laude, past president of the Harvard review, professor of constitutional law at the one of the top ten law schools, University of Chicago, and still talked about like a dog, what would you think?
I could go on and on, but you can now see why the racism comes up as often as it does. Yes, I wish it didn't have to come up at all, but, until these vestiges of the past and present discrimination is done away with, you will keep hearing the word, racist, come up again and again.
Is the school zone for Ridgeway really much different than what will be feeding Germantown after MSD formation?
Does Ridgeway really serve lower income students than what will feed GHS? Based on the surrounding neighborhoods and the likely feeder zones for GHS, I would bet both schools will serve primarily lower middle class to middle class students.
I may be wrong about that, but I thought Ridgeway's school population was reasonably well off.
I don't know what SCS will do with the "G" schools, but I do think that without some sort of optional/IB program at the Germantown schools, they will have a hard time getting residents to choose those schools as an option, since they won't be in the neighborhood.
It will definitely be interesting to watch.
You are concerned about property values concerning the SCS keeping the three schools in Germantown.
Schools and there ranking have something to do with property values, however, it is the which came first, the chicken or the egg thing. Do the schools add to the value of the community or do the parents that move into the community with higher socio-economic status make the schools better?
Houses, in themselves do not appreciate in value. With regular upkeep they can hold their value, but they are not the driver of appreciation. The appreciation comes with the land, not the buildings on it. The land is valuable irrespective of what building you put on it.
Great example. During the great migration from Memphis to the suburbs, families with only moderate incomes and middle of the road parental education attainment did not improve the old SCS. They were, for a long time, behind the MCS. As more affluent people stared to move in with higher parental education attainment, the county schools begain to improve.
What I am saying is that the only difference between the communities of the suburbs is economics. Let us say that Electrolux pays about 50,000 per annum and the workers really don't need much of anything higher than a high school education. Well, they can afford to move into the muni's and they will bring there children that will have the same culture and background from where they came from. Before you know it, your school districts takes a hit in it's quality rating. That is what I mean by the chicken or the egg comment. Since each msd will be small, it wouldn't take many, so called inferior people, moving into those muni's to cause the scores of the school district to fall.
It is like I have been trying to explain to Homer. The voters of Memphis will not put the three schools in question on a special footing at the expense of the schools in Memphis proper. It is politically not feasible. Hell, the voters in Memphis won't even give White Station High special status; White Station High have been trying for many years to get that special status, but, the voters of Memphis say no.
Sure, good taste, fine bouquet, but how's the anointing?
The voters of the SCS controls the destiny of which schools will be what. My point being that the voters of Memphis will not hear of any plan to cease Ridgeway as being IB so that Germantown can continue it's designation as IB. This is just a political reality.
The voters of Memphis will balk at any plan to put Germantown in a higher position at the expense of schools located in Memphis that primarily serve low and moderate income students.
I have yet to see any requirements where IB schools must be a minimum of 15 miles apart. Is this a state law, local law, or what? Please give me the source of this information.
Germantown may become a school within a school, optional and/or IB, but, it will not be all IB or optional only school.
If none of the students that reside in Germantown want to continue to attend there, so be it. The status of Germantown High will not be changed just to try to get Germantown students to attend there, especially if it means closing existing options that are already in place in Memphis proper.
There are ample enough students from the unincorporated areas to fill the three schools located in Germantown.
You are an admitted liar. IB makes no distinction in district size. You are obviously grasping at straws when you have NO CLUE to how IB works.
Why do you think SCS already said they would make Gtown an optional school. They have no AP and they won't start any time soon. So what is the optional going to be based off of.
The only hope of saving Ridgeway's IB program is if Gtown retains GHS. Keep living in denial. That got you a long way on the MSD issue.
SCS has a very slim chance of keep ing any Gtown kids. If SCS gives up Gtown IB, SCS will have no Gtown kids in the program, Gtown schools will be over crowded upon the start of the MSD. SCS would loose some of the unincorporated kids to private schools also. GHS will be HIGHLY under utilized. That will be a problem in court. Keep playing checkers.
Keep talking with Kevin Woods. He's bought and paid for. He is very likely to loose that seat. He's not winning any friends when he states he will take the ridiculous pay raise that Ritz is proposing, he wants to make purchases without any idea of the real problems. He's just as much out of his element as Hobson. So you really think he's going to make a decision that is financially unsound in keeping Ridgeway IB over Gtown. Now you just being funny.
Besides, I've viewed the standards for both schools for admittance to the IB program. Gtown would really have to lower their standards.
OTP, the cry of racism is really tired. I would argue that black "payback" racism is an issue and would be interested in your take. Is that flavor of racism ok with you? It seems quite alright with far too many folks.
SoCal, you may have a point. Managing a process like this requires discipline and keeping one's eye on the ball. To whatever extent the Mayor and others ran their mouths in emails or on Facebook, it could have made the situation less to Germantown's liking. Still, I sense things will be fine in Germantown, both in terms of quality education and property values in 38138.
My money is on Germantown to get this right.
You can't blame Whole Foods for this decision. Unfortunately, if they had chosen to carry it they would have had to deal with a few self righteous "customers" who would be offended. It's probably easier for them in the long run to avoid the hassle of dealing with those sorts of people.
The best I've ever had came fresh-pressed from the trees some Greek friends of mine own :)
I believe that rule is not valid for a district that has 100,000 students. Even if it does, Germantown will not usurp existing programs at Ridgeway High School. That, I can guarantee you. If a program needs to be closed, it will be Germantown. Any board member who votes otherwise, probably will not be re-elected. In the new unified SCS, Germantown will not carry any extra influence or priority over existing schools from Memphis.
If you don't believe it, ask Kevin Woods and see what he tells you.
Yes, if there are not enough AP enrollees in any school, that program will be closed and the existing students will have to go to another school that offers what they want. Very, very simple.
Germantown Elementary, Jr. High and High may have been the flagship of Germantown, but, in the unified SCS, they are just another set of schools.
I had no idea Argentina was a center of top quality oilive oil production.
The best I've ever had was a bottle of extra virgin manzanilla olive oil from California. It was fresh - that was the big difference, and boy what a difference. It wasn't the bottled remainders of last year's unsold oil from Italy or Spain.
How do you plan to get around the fact that the IB program requires at least 15 miles between IB locations of the same level? Gtown High and Ridgeway high are about 5 miles apart.
I know, the IB rules don't apply to you!
And so, it begins.
Which school will get the students? Where will the money be spent? Will it matter? Will there be more than 400 students enrolled in GHS come fall of 2014? 2015? Will GHS still be a part of SCS? Will Southwind and Germantown HIgh Schools get all the money to stop the hemorrhage? What happens if they don't? Will there still be an IB program after the 2014-15 school year? Does it really not matter and have no effect on a school population size if there are no AP courses available? Since there are no AP classes at GHS, where will those students be sent? Packing?
January 22 is right around the corner.
Double down and spin the wheel HARD! The odds can really change!
This won't take long.
By Leonard Gill
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