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Post by Crucis#1 on Feb 11, 2021 21:44:19 GMT -5
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Post by KY Crusader 75 on Feb 12, 2021 1:02:24 GMT -5
This is a great development if it will help the students at both schools and ensure a future for St Joe's
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Post by sader1970 on Feb 12, 2021 5:31:04 GMT -5
Does anyone foresee HC doing a similar merger anytime in the intermediate future? Any struggling colleges in Worcester?
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Post by KY Crusader 75 on Feb 12, 2021 11:48:56 GMT -5
St Joe's merged, in my opinion, to protect its future. I believe HC is on much firmer ground than St Joseph's is, with no need to take drastic measures to ensure its future
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Post by DFW HOYA on Feb 12, 2021 13:03:14 GMT -5
Ideas like this recall the Penn-Central theory of mergers: Two struggling entities creating one bigger, even more struggling firm.
With an endowment of $210 million (more than 12 of the 28 Jesuit colleges in the US), USciences has a stronger balance sheet than most, but it is cash-poor, with just $14 million on hand in its 2019 statements. It appears to have withdrawn between $8-10M from its endowment to pay the bills in 2019. St. Joe's would gain the enrollment tuition ($61.6M) but be responsible for USciences' long term debt ($180M through 2048), and annual operating expenses of $94.1M, a quarter of that in faculty salaries. Incorporating these figures into St. Joe's financial statements isn't going to lift the Hawk out of its problems.
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Post by A Clock Tower Purple on Feb 12, 2021 14:19:07 GMT -5
St Joe's merged, in my opinion, to protect its future. I believe HC is on much firmer ground than St Joseph's is, with no need to take drastic measures to ensure its future The is no merger at the moment. It's merely in the exploratory phase at this point. |
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