Jane Sanders didn't do anything intentionally wrong.

[MineralMan]

There's no there there. Like many people who lead smaller, non-profit organizations, she was more or less an amateur at figuring out how to grow that little college and keep it from going under out of non-interest and limited offerings. An opportunity to expand the campus by buying a very attractive property came up, and she jumped on it. What a great way to grow the college. A beautiful site, developed to build on the lofty goals of Burlington College, an innovative school with an innovative educational philosophy.

Money was the problem. The property cost a bunch. Fundraising went into top gear and alums and others were asked for pledges to achieve this worthy goal. Based on that and the intrinsic value of the property itself, they talked a lender into loaning enough money to buy the property and begin the expansion.

However, servicing a multi-million dollar loan, while expanding the college's facilities and trying to attract enough new students just didn't work out. Already in debt, the foundation that runs the college found itself floundering and getting deeper and deeper in depth. Those lofty plans weren't getting the results everyone hoped for.

Jane Sanders tried. I'm sure she kept trying, both to generate more revenues to service the debt and to assure the board that success was possible. But, even selling part of the attractive property wasn't going to pull Burlington College out of its hole. The board lost confidence in Jane Sander's abilities and let her go, giving her a modest six-figure sum to ease the blow. She moved on.

But the die was cast. The financial situation turned out to be hopeless, and after a few years, there was nothing left to do but shut the school down completely at the end of this year's term. The remaining students who weren't graduating will have to move on to some other school and the faculty and staff will have to look for new positions.

The failure wasn't deliberate and Jane Sanders was acting on the best of intentions, I'm sure. But she did not have the skills, knowledge and experience to bring her ideas to fruition. It was a bold move she encouraged the board to take, but it failed. That happens all the time in the non-profit world. The experiment simply didn't succeed.

Jane Sanders isn't liable for this. There's no crime. It was just an inexperienced person trying to do something that probably had no chance of succeeding. It's a pity. But, there it is. Such things happen all the time. Burlington College is no more. That's too bad. It looked like a nice little innovative liberal arts school, but there are tons of those out there.

[msongs]

1. she got hers and the school died. just another innocent victim nt

[MineralMan]

2. She got something, but not really all that much.

She also got some experience through failure. I'm sure that stung pretty sharply, really. I can't imagine that she meant anything but well for that tiny college. I visited its website, early this year, and explored pretty much the whole thing. It was an inviting place with an inviting educational concept. It was relatively moderately-priced as small liberal arts colleges go, although more expensive than a state school. It had a low student/teacher ratio, a relaxed, flexible curriculum and a fun-looking little campus.

Jane didn't go there to rip the place off, I'm sure. She had a nice vision for the school, but didn't have the knowledge and experience to make what she had in mind happen. Every small, private liberal arts college I've ever looked at is always trying to balance debt and income. Most do that relatively badly and many, many of them have shut down in the past few decades, to to financial impossibilities.

I just don't like seeing people attacking Jane Sanders as though she was some sort of money-grubbing charlatan. Probably, there wasn't actually any way to save Burlington College in the long run. This attempt she led simply didn't work. She tried mightily, I'm sure, but failed, nevertheless. Happens all the time.

[BlueStateLib]

25. The college trustees gave her a $200,000 early exit package

[MineralMan]

26. Yes. That's not very much money, really.

About the price for a modest, but nice home.

[CK_John]

3. Didn't she funnel about a million to her daughter.

[MineralMan]

8. I have no idea, really.

[PufPuf23]

4. Thank you for being so realistic and reasonable about the failure of Burlington College. eom.

[procon]

5. Now there's also a possible tie in with her husband using his the power of his office

to leverage a bank to her benefit. In any event, if Jane was as incompetent as you've portrayed her ("she did not have the skills, knowledge and experience&quot then she should have resigned long ago, or at least recused herself and brought in skilled advisors and consultants to do what she was unable to do.

[MineralMan]

10. Here's the thing. Senators get perks. They're seen as successful

and smart. They get mortgages they wouldn't otherwise qualify for all the time. Did Bernie's office help Jane get that loan funded? Probably. Banks and lenders are weird, and often make bad decisions based on factors known only to them. So, I don't really know what the details were.

Odds are that Jane Sanders got that position in part due to Bernie's position. People are impressed with Senators and Congress Members. It can swing a decision very easily.

Jane Sander's inexperience and incompetence is visible only in retrospect, really. Bottom line is that Burlington College was probably a marginal operation in the first place, and tried to make a bold move to increase its chances. It didn't work. It often doesn't.

[6chars]

33. she probably got the job on her own merits

She had already been a provost and interim president at Goddard College. Not really so inexperienced. They must be Burlington's power couple

[Live and Learn]

16. And Trump has gone bankrupt how many times? Financial deals are risky and don't always pan out.

As far as your nonsense about Bernie's involvement, you have no case. Banks make loans and decide who gets them. Unless Bernie violated the law by blackmailing them or something, your theory is ridiculous.

[MineralMan]

19. Trump's entire personal fortune is built on bankruptcy.

Corporations protect individuals from liability. That's why they exist. Trump takes money out of corporations and then skates when they fold. It's a common means of building personal wealth.

He'll do the same with this country, if he gets a chance. I suggest we deny him that opportunity.

[Live and Learn]

20. Exactly why I am voting Bernie. A Hillary nomination is sure to be a Trump win. nt

[jehop61]

6. You forgot

To add the "sarcasm" emoji .

[CrowCityDem]

7. Depends. Did she overstate how much $ they had in pledges? That would be intentional, and wrong.

[MineralMan]

12. I don't know. Did some people pledge without intentions

of actually funding? That happens, too. The thing failed to work. That's the bottom line. I prefer not to infer malicious intent from eventual failure of plans to succeed.

I have no reason to attack Jane Sanders. I'm sure she's a very nice person, really, with good intentions. So is Bernie Sanders. They may have overreached their capabilities, though. People do that a lot.

[TwilightZone]

24. She overstated some existing and pledged donations and misrepresented others.

"Sanders told People’s United Bank that the college had $2.6 million in pledged donations to support the purchase of the former Roman Catholic Diocese of Burlington property on North Avenue. The college, however, received only $676,000 in actual donations from 2010 through 2014, according to figures provided by Burlington College.

That’s far less than the $5 million Sanders listed as likely pledges in the loan agreement, and less than a third of the $2.14 million Sanders had promised People’s Bank the college would collect in cash during the four-year period."

(snip)

"Burlington College also cited a $1 million bequest as a pledged donation that would be paid out over six years, even though the money would only be available after the donor’s death.

More....

http://vtdigger.org/2015/09/13/jane-sanders-overstated-donation-amounts-in-loan-application-for-burlington-college/

[Live and Learn]

18. She didn't overstate. The pledges were real and reneged upon. Kind of like Hillary's debate pledge.

[CrowCityDem]

31. Like the bequest, where the person reneged by not dying?

[Henhouse]

9. It is sort of a metaphor for the Sanders campaign...

Big ideas, best of intentions but not enough skills, knowledge and experience to bring the ideas to fruition.....

[MineralMan]

13. Yup. People dream big a lot. Sometimes it all works out.

More often, though, it doesn't. Can't blame a person for trying, though. Vermont's a little, quiet place. Succeeding in Vermont, though, may not indicate an ability to succeed in a hugely larger venue.

I've been to Vermont. I liked it there. But it's nothing like most of this country.

[Henhouse]

15. Trump managed to bankrupt a Casino....so it could be worse...n/t

[MineralMan]

17. Trump makes his living by bankrupting things.

He would do the same to this country. It's easy to build wealthy by bankrupting corporations. You end up with the money and have almost no personal liability.

Donald Trump would gleefully bankrupt this nation, too, and profit hugely from doing so.

[cherokeeprogressive]

11. Well said and probably closer to the point than any other post on the subject.

[MineralMan]

14. Thanks. I'm a little weary of attacks on everyone these days.

I suspect that Jane Sanders is devastated right now over the shutdown of Burlington College. That's a very sad thing, and she played a role in it. I'm not surprised that she's not traipsing around on the campaign trail right now. Both she and Bernie know that this whole adventure is about to wind down. That's not a happy time.

[cherokeeprogressive]

21. Couldn't be more correct.

Gotta respect that.

[LAS14]

22. Neither did Hillary with her server.

[MineralMan]

23. Yes, that's true, too.

There was no criminal intent and there will be no indictment.

[beachbumbob]

27. Then why is she hiding and not answering questions?

[MineralMan]

28. Is she hiding? Really?

She's off the campaign trail. But I don't know that she's hiding. I imagine she's pretty embarrassed by the failure of Burlington College and depressed about the impending failure of Bernie's campaign. I suppose she's in Vermont, trying to sort all of that out.

How do you know she's not answering questions, and who is asking her questions?

You've made some statements. Lets see some evidence for them. Show me that she's hiding and refusing to answer questions, with links.

[beachbumbob]

29. Yep, hiding refusing to answer questions...Bernie won't answer either

Virtue of truth.....not
Maybe Jane is fixing the tax returns????

[enid602]

30. jane

She was the CEO of an institution. She knowingly falsified the balance sheet of the college to get a loan. She listed as an endowment a pledge by a person who was still living. Two other endowments were overstated by 100% each. She lawyered up before they had a chance to sue her.

[Nonhlanhla]

32. I tend to agree

And neither did Hillary.

These fake scandals do nothing to further a progressive agenda.