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Thursday, August 30, 2012

Alabama State AD faces uncertain future

Alabama State University Athletic Director Stacy Danley faces an uncertain future at the school as university officials have confirmed that Danley has been placed on administrative leave with pay.  

Danley has has served as the Hornet's athletic director for a little more than 25 months, said from his home in Auburn that there were “fundamental differences (on) how you operate, but let’s see how we can get past this adversity.”

“Alabama State, with or without Stacy Danley, has a chance to be extremely special,” he added.  “There has been a tremendous amount of progress made since I’ve been the athletic director. I’m still the athletic director there and I’m so excited about the future at Alabama State.”

Whether Danley will be allowed to return to his position following the “pending personnel matter” is uncertain.

Danley is the ninth AD at ASU in the past 11 years.

Sunday, August 26, 2012

Morris Brown files for bankruptcy protection

Facing more than $30 million in debt, Morris Brown College officials have filed for Chapter 11 bankruptcy.

The Atlanta Journal-Constitution reports ( ) that the move is a last ditch effort to prevent the school from being foreclosed on and sold at auction.

The 131-year-old historically black college is facing foreclosure next month after investors called $13 million worth of bonds tied to the school.

The bonds were issued in 1996 by the Fulton County Development Authority. The school had pledged several pieces of property as security. An auction of assets was set for Sept. 4.

Chapter 11 gives federal protection to businesses unable to pay their debts and allows reorganization. A lawyer for Morris Brown says the emergency filing delays the foreclosure until a judge decides otherwise.

Wednesday, August 22, 2012

Facing Foreclosure Morris Brown College to Be Sold

Morris Brown is facing foreclosure next month, after investors called $13 million worth of bonds tied to the college. An auction of assets, including the administration building, is scheduled for Sept. 4.

For more than a decade, Morris Brown College has clung to life as it struggled academically and financially in the face of growing debt and dwindling support.
Now, one of the country's oldest black colleges, which at times boasted an enrollment of more than 3,000 student, is now down to about 50, and all but dead.

"This is heartbreaking and not only a sad day in the life of Morris Brown, but in black academia," said former Atlanta City Councilman Derrick Boazman, a 1990 graduate of Morris Brown. "The school is needed now more than ever."