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re: Texas Athletic Department in debt?

Posted on 9/15/11 at 4:05 pm to
Posted by Dr Drunkenstein
Washington DC
Member since May 2009
2918 posts
Posted on 9/15/11 at 4:05 pm to
quote:

Yea. Over $200M. Where is Dr. Drunk who rags on A&M for taking a $16M interest free loan and for not providing tp to dorms anymore?


Big Kat, I am truly embarrassed for you. I think most people here know the difference between long term debt for financing major capital expenditures and a panic-fueled injection of cash to cover day-to-day operations so that the athletics department can actually fund its payroll and pay for postage and things like that.

Speaking of claims we both made, remember when you said that there would be no political roadblocks this realignment go 'round and Baylor would roll over and wouldn't stand in the way of A&M going to the SEC? How many days has Baylor had you by the balls now? I also thought you would like this gem:

LINK

quote:

: President Bill Clinton’s nemesis Kenneth Starr, now president of Baylor University in Waco, Texas, is on Capitol Hill today lobbying more than two dozen members of Congress about the preservation of college sports’ floundering Big 12 athletic conference, among other education issues.


I don't think any one person on this board has been more wrong about a particular realignment issue than you.
Posted by Smoke Ring
Scenic Highway Crackhouse
Member since Dec 2010
4257 posts
Posted on 9/15/11 at 4:17 pm to
Drunkystain,

It's you that apparently don't understand debt.

For being dumb farmers, A&M arranged for debt that was interest free.

You guys have a debt service obligation on $225M+ ... yet you lecture ...

Long term, short term, it doesn't matter--only the interest terms matter. I think it was Einstein who said that compound interest was the most powerful force in the universe ...

So shut your trap and get back to work, your school has some interest on $225M to pay and needs your donation.
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