The UofL Foundation Bought a Factory in Oklahoma because a Donor Asked

The UofL Foundation Bought a Factory in Oklahoma because a Donor Asked

Nick Roushabout 5 years

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Aritcle written by:Nick RoushNick Roush

@RoushKSR

screen-shot-2016-10-11-at-9-37-36-am The stories that come from University of Louisville administrators should never surprise you, but this one comes from so far out of left field, it isn't even in the ballpark. In 2014, a university donor approached the UofL Foundation.  His Oklahoma factory was empty and expenses were increasing.  Would James Ramsey be interested in making a deal?  Of course he would. The UofL nonprofit took 99% of the empty factory's ownership, until they started receiving questions  from WFPL.
For more than two years, prospective buyers came and went, and the U of L Foundation waited while the factory sat on the market. At least, until the foundation received a series of records requests from WFPL’s Kentucky Center for Investigative Reporting. A day after a reporter visited the site in August, the foundation and its attorneys signed off on a set of “unwinding” documents, canceling the whole deal without ever making a penny. U of L administrators said the timing is merely coincidence, and they backed out because the factory wasn’t selling.
You wouldn't expect to find corrupt UofL administrative BS 666 miles away from campus, but as always, expect the unexpected. [WFPL]

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2021-10-16