Lee Morgan and Matthew Derr with the keys to the kingdomAn abandoned Antioch Hall floods: Video
Alums and villagers celebrate after inital agreement to sell the college to the alumni: Photos
Signing ceremony makes it real: Video
Alums return to a campus they now own:
Antioch College Chief Transition Officer Matthew Derr giving Antioch Hall the once-over with some alums at the October reunion.
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3 comments:
this story may still turn out badly. a few days ago, lee morgan was sued over the way he extracted the value out of the antioch company. this story was mentioned on this blog, but here is the link for anyone who is interested:
http://www.sctimes.com/article/20091225/NEWS01/112250014/1009/Creative-Memories-leaders-sued-
the case makes for fascinating reading and the reason i am bringing it up is that several of lee morgan's trusts are named in the suit which means that any donations made from those trusts may eventually be clawed back which would be bad news for the college and several other local recipients of morgan trust money.
oddly i haven't seen anything in the yellow springs paper about this although the dayton daily news covered it. what's up with that?
I can't pretend to know anything about this situation, but knowing how much money the Antioch Company Foundation gave to the village over the years I find it hard to believe this was motivated by greed. Some of it may have been bad economic timing, a lot of companies fell into a bubble of over-valued stock prices.
follow the link and read the complaint. it is thorough and doesn't make lee morgan look very good.
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