Albertson's for sale? - USM Forum -- Message Board

Date: Jan 22, 2005

Albertson's for sale?

Date: Jan 22, 2005

Isn't it a private sale to Mississippi State so that the Bulldog Business School South will have a home?

Date: Jan 22, 2005

That's what I get from this. If a sale is in the works, it seems to fit the story that MSU is about to annex the business school at USM. If that happens, all I have to say is "Congrats, biz faculty. Take this outcome, go and be happy. Please don't forget about the rest of us..."

Date: Jan 22, 2005

I just can't see letting MSU take over the b-school working. Some of the most prominent (giving) alums come out of the b-school (think of the guy who gave the Wendy's to USM or the Hudson’s guy who pushing for a new building in the middle of campus). USM alums hate State and would never accept seeing an MSU-burg campus, especially at the expense of their old department. I just can't see it happening.

Speaking of nursing, what happened to the idea that Forrest General was going to build a nursing school near the hospital? IF that is going to happen, I can see why we don’t need the Albertson’s building (which I always thought was a weird purchase). What USM should have done was buy the old K-mart lot. Just think how much space was out there. Think how many offices, labs, continuing ed classroom, etc. could have been placed out there. With all of that land, you could have eventually had an entire west campus.

Date: Jan 22, 2005

quote:
Originally posted by: asdf
" I can see why we don’t need the Albertson’s building (which I always thought was a weird purchase). "

It was only weird if you are asking, "Did USM need this building?" In retrospect, one might think it was an example of potential cronyism.

Remember what happened: Albersons closed. The building was put on the market. A local businessman, friend of SFT, and long time supporter of USM (I think) bought the building for about $1.25 million (if I remember the HA correctly). That local businessman was THE ONLY BIDDER, i.e., USM did not even bid. A few weeks later, SFT recommended/requested that the USM Foundation buy the building. (Rumor out of the Foundation was that the recommendation/request was for a price of roughly $3 to $4 million.) One or more Foundation board members declined the opportunity at that price. The Foundation ended up buying the property for roughly $1.5 million (again, according to my memory), so the local businessman made only a quarter of a million return on his investment -- instead of 2 mil or so.

It may be that the market has changed in the area of the Cloverleaf Mall and the USM Foundation will actually be able to make money if it sells. I can only hope that the people at the Foundation who sell the property are the same ones who negotiated the purchase. At least they (whoever they might be) seem to have had some sense of fiscal responsibility.

Date: Jan 22, 2005

don't forget--the businessman from whom USM bought Albertsons then shortly tried to start up a new casino on the coast. economic development!

Date: Jan 22, 2005

quote:
Originally posted by: stinky cheese man
"don't forget--the businessman from whom USM bought Albertsons then shortly tried to start up a new casino on the coast. economic development!"

Yep. Dat's da man. Dat's da plan. Dem movers and shakers do move and shake.