Uh oh! The $45 million IS NOT in the bank

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BEESerk

Flats Noob
Joined
Oct 30, 2002
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GTAA and in particular a representative of the GTAA would not answer the direct question of whether or not we had $45 million in the bank or not. They wouldn't answer it because they were trying to take credit for something that wasn't exactly true.

GTechsta claimed we had it in the bank from his research. Maybe he is speaking of the bonds that were floated to secure the construction contracts so the expansion could actually begin. However, it is not correct in that $45 million dollars has been raised through the campaign AND actually been put in the bank.

GTechsta, contact me privately and I will provide you with the evidence so you can assure everyone that I am not spreading rumors.

Anyone could do a little research and if you think about the right people to ask.... you could find out too instead of blindly believing the BS that GTAA feeds you.
 
uh oh .. i hope that a majority of our fan base who made "pledges" towards the stadium expansion have enough decency and honor to fulfil them so that the dollar amount pledged to the stadium is met.
 
Originally posted by CrackerJacket:
Jesus...are we really arguing about this?

The season cannot arrive too soon...
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<font size="2" face="Arial, Verdana, Sans-Serif">Some of us take GTAA's covert operations and campaign of disinformation seriously since it is our money they are playing with.

I agree with you on that last statement! It is time for toe to meet leather.
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So what if it isn't.
The main groups that hurts are non-revenue sports.
Most of the budget would be shifted to cover construction.

Doesn't that lead to a model in which there are 3,4 fully funded sports and the rest make do?

Can someone clarify? Do A-T funds go to pay for physical plant and operating expenses? or Do they go strictly to scholarships? Thus lowering funds outlaid from the GTAA annual budget?
 
Originally posted by GTg8r:
So what if it isn't.
The main groups that hurts are non-revenue sports.
Most of the budget would be shifted to cover construction.

Doesn't that lead to a model in which there are 3,4 fully funded sports and the rest make do?

Can someone clarify? Do A-T funds go to pay for physical plant and operating expenses? or Do they go strictly to scholarships? Thus lowering funds outlaid from the GTAA annual budget?
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<font size="2" face="Arial, Verdana, Sans-Serif">I am sure that someone can explain the details and correct any errors, but this is how I understand it.

The stadium expansion is a "Capital outlay". It is not budgeted, and requires separate funds to be raised outside of normal AT giving and GTAA revenues. Hence the term "Capital Campaign". In order to even start the project GTAA had to float some bonds in order to actually get a contractor to start the work.

Any funds raised by the capital campaign would be used to pay off the bonds and the balance of construction costs. I could be wrong, but I beleive these funds can only be used for the current capital projects (BDS expansion and the new RCS).

Yes, AT Funds are used to pay all operational expenses of the GTAA. That includes tuition, books, food, maintenance, and salaries.
 
Originally posted by BEESerk:
[QB]
The stadium expansion is a "Capital outlay". It is not budgeted, and requires separate funds to be raised outside of normal AT giving and GTAA revenues. Hence the term "Capital Campaign". In order to even start the project GTAA had to float some bonds in order to actually get a contractor to start the work.

Any funds raised by the capital campaign would be used to pay off the bonds and the balance of construction costs. I could be wrong, but I beleive these funds can only be used for the current capital projects (BDS expansion and the new RCS).

[QB]
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<font size="2" face="Arial, Verdana, Sans-Serif">doesn't this imply that we need all the pledges made to the capital funds campaign to be honored? doesn't this mean that it will be Georgia Tech that will eventually suffer is the capital funds campaign fails?
 
Thanks BEE, because my original comments a few days ago gained a response from the AD's assistant who was posting on working hours. Obviously, she is misinformed and doesnt understand how it works. My whole point with all of this is that I called it a disaster because if everyone believed in the leadership and direction of our AA, the $$ would be close to being done, if not done (yes, even in this economy) THen they screwed the tickets up and pissed Hall of Famers at the same time (trust me, I know who they are). Oh well this season cant come sooner and end sooner because it will be a long one.
 
Originally posted by The Gnome of Zurich:
Thanks BEE, because my original comments a few days ago gained a response from the AD's assistant who was posting on working hours. Obviously, she is misinformed and doesnt understand how it works. My whole point with all of this is that I called it a disaster because if everyone believed in the leadership and direction of our AA, the $$ would be close to being done, if not done (yes, even in this economy) THen they screwed the tickets up and pissed Hall of Famers at the same time (trust me, I know who they are). Oh well this season cant come sooner and end sooner because it will be a long one.
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<font size="2" face="Arial, Verdana, Sans-Serif">Gnome, I knew exactly what you were trying to say. That is why I pursued it further, and why I called the GTAA out on this one. I would say that they have an incredible "spin machine", but they don't. There are plenty of people who know, think, or feel that anything they say can be taken with a grain of salt.

GTAA doesn't live in the world of facts, and certainly won't admit that plenty of prominent people have no faith in them. So be it, because it will spell their destruction.

I won't post rumors, but I have made statements that were cleary my opinion on both boards. I have taken plenty of heat for being very outspoken on Braine lately. In fact I have been very wrong on some things that I suspected. However, it was all worth it because I have had private conversations with well known figures and people who really know what goes on. They have given me the validation I need. I know enough of the truth, and it isn't what GTAA is trying to put out.
 
I am too just glad that people like yourself arent believing this bull. Facts and actions mean louder than words or shuffling (as in the bull shuffle game they have put on by moving Moore out. She shoudnt have been there in the first place for godssake!) SO they say things have been changed. Well they shouldnt have been changed in the first place. I too am tired of the words whose actions that follow belie my eyes. Hopefully the mantra I mentioned in earlier posts will intensify. I think it is as we speak but we'll see. Keep it up
 
The money will eventually be raised and the bonds will be paid, the point though is this has been a Case Study in how not to run a project, campaign etc. And that is piss off your most loyal generous supporters.
 
I am curious about a donation made to Tech not too long ago. I remember Coca Cola or some one in Atlanta donating a huge some of money to Tech.

Could any of those monies be used for the stadium expansion, or was the entire donation earmarked for academic expenses?

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Originally posted by ylojk8:
poster 1: "blah blah blah"
poster 2: "i agree poster 1, blah blah blah blah"
poster 1: "poster 2, you the man"
poster 2: "nah poster 1, *you* the man"
poster 1: "nahhhhh poster 2, *you* the *main* man"
poster 2: "Awww shucks &lt;blush&gt;"
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<font size="2" face="Arial, Verdana, Sans-Serif">Once again you prove your incanny ability to add insight and facts to the discussion.
 
Originally posted by ahsoisee:
I am curious about a donation made to Tech not too long ago. I remember Coca Cola or some one in Atlanta donating a huge some of money to Tech.

Could any of those monies be used for the stadium expansion, or was the entire donation earmarked for academic expenses?

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<font size="2" face="Arial, Verdana, Sans-Serif">Ahso, good memory! The donation came from Ms. candler. Here are the details:

http://gtalumni.org/StayInformed/techtopics/win99/campaign.html

Homer Rice is the reason we got this money. Note that the money was given during Braine's tenure, but the article doesn't mention him once. It also describes how the money would be spent.
 
Originally posted by BEESerk:
</font><blockquote><font size="1" face="Arial, Verdana, Sans-Serif">quote:</font><hr /><font size="2" face="Arial, Verdana, Sans-Serif">Originally posted by ylojk8:
poster 1: "blah blah blah"
poster 2: "i agree poster 1, blah blah blah blah"
poster 1: "poster 2, you the man"
poster 2: "nah poster 1, *you* the man"
poster 1: "nahhhhh poster 2, *you* the *main* man"
poster 2: "Awww shucks &lt;blush&gt;"
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<font size="2" face="Arial, Verdana, Sans-Serif">Once again you prove your incanny ability to add insight and facts to the discussion.</font><hr /></blockquote><font size="2" face="Arial, Verdana, Sans-Serif">what do i know? i'm a mudblood. i can't wait for you to teach me in september.
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BeeSerk, thanks, it appears Dodd's past is still paying dividends to Tech, also.

smile.gif
 
poster 1: "blah blah blah"
poster 2: "i agree poster 1, blah blah blah blah"
poster 1: "poster 2, you the man"
poster 2: "nah poster 1, *you* the man"
poster 1: "nahhhhh poster 2, *you* the *main* man"
poster 2: "Awww shucks &lt;blush&gt;"
 
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