Letter to the Editor Philly.com. 2016

August 2016

To D. Murphy
I read with interest your article “Murphy: Why can’t Temple Board See True Cost Of New Stadium? Attached is a letter I sent to the Acting President and the Board of Trustees of Temple last week.It is the most recent in a chain of emails I have sent to the Board of Visitors, the Board of Trustees and the President over the past several years. All my concerns were dismissed without merit but eventually proved true.

I am an alumni of Temple and have endowed 2 scholarships and have established a student aid fund at Temple so I admit a bias on behalf of the students. I also held high level positions in public finance for 30 years before moving into private investment management. While in public finance I was hired several times after grand jury investigations to undo “bad bond deals”. I have seen first hand the cost to the taxpayer, the bond holder (and in this case the students). The winners are the consultants, the contractors (and in this case the concession holders).

I applaud your analysis and can only hope someone is listening.

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