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Roanoke Times: Sweet Briar board should resign
Our view: Sweet Briar board should resignPosted: Saturday, March 14, 2015 2:15 am
Something just doesn’t add up here. ... We’ve been looking at the public financial filings for Sweet Briar College, which has announced its closing due to declining enrollment and a dwindling endowment. Here’s what we find:
....
If the Sweet Briar trustees are so absolutely convinced that closing is the only responsible option, here’s what they could do: Resign.
Sweet Briar’s alumnae are now actively engaged in trying to raise money to save the school. Let them take over. If the existing board is right, then a new board would surely come to the same, sobering conclusion.
At worst, a new board would spend down some more of the endowment, but at the rate things have been going, the college’s overall net value might still increase as it has in the past year. ... But if the existing board is wrong, well, there is that risk of being proven wrong.
