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Posted April 2, 2005 

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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