Melissa Marconi Wentzel spoke with me about the blog, and put together this story.
Two items of interest from the story:
Kim Spangler at ACPE is cited as saying that they will revoke license unless a new surety bond is held. The old bond was scheduled to expire 9/11/07. It looks like it did.
Also, President Dobler is cited as saying that severance and annual leave will be paid once some property is sold. I heard from a Trustee today who said that the Board approved the severance and annual leave plan proposed by the Dept. of Labor.
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2 comments:
Exactly what is a surety bond?
Thnik of it this way: A surety bond is an amount of $ that acts like an insurance policy. If SJ were to go under, and not have the funds to cover student needs, it would kick in.
It was required by ACPE, and may be used to cover expenses of students whose education was disrupted by the suspension of operations.
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