If some sweet-talking banker from J.P. Morgan, or one o' dem' udder NooohYork banks comes callin' with some sweet-sounding scheme to save us a bunch-a-money:
Tell him 'Hell-No!', and call the cops.
The Denver School board didn't, and they are in a mess.
From the New York Times Business section:
Since it struck the deal, the school system has paid $115 million in interest and other fees, at least $25 million more than it originally anticipated.
To avoid mounting expenses, the Denver schools are looking to renegotiate the deal. But to unwind it all, the schools would have to pay the banks $81 million in termination fees, or about 19 percent of its $420 million payroll.
No comments:
Post a Comment