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Too
Little Too Late
April 2, 2005
The Spokesman-Review reported the Teachers Insurance and
Annuity Association of America (TIAA), a primary lender for
CEDU Schools, “arranged for a $1.5 Million loan for emergency
temporary operations of the schools through April 22.” Court
documents indicate the reason for the emergency loan was without
it operations "will cease immediately and the Trustee
would be compelled to force the remaining students to vacate
the premises immediately thereby causing serious and irreparable
harm," Some staff say if they had known this Friday,
they might have been able to remain operating, instead of
sending all the kids home.
(The Spokesman-Review is a subscription only newspaper, and
access to this story is allowed only to paid subscribers).
Copyright
© 2005, Woodbury Reports, Inc. All Rights Reserved.
(This article may not be reproduced without written approval
of the publisher.)
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