Saturday, October 25, 2008

Oklahoma University royally screwed

Apparently, the supposed $160Million in donations from T. Boone Pickens to Oklahoma State University once hit $300M before crumbling to $ZERO$, today. What makes it worse is that the university has borrowed a whole lot of money against it as collateral... OUCH! hence the "royally screwed" status.

Lesson here

Hand outs hurt, whatever that could go wrong, WILL go wrong. Leveraging against uncalculated risks invariably ends badly. When it comes down to it, you can't rely on anyone but your own abilities and convictions.

0 Reflections: