daily rumor mill #81 - USM Forum -- Message Board

Date: Aug 13, 2004

daily rumor mill #81

Date: Aug 13, 2004

#4 is not at all surprising.

#3: There would probably be electronic surveillance devices in the men's room and bugs in the flower arrangements on every table. The faculty would probably not be hanging out there.

Date: Aug 14, 2004

quote:
Originally posted by: gurunuburg
"The mill hasn't heard much lately about use of the large space in Cloverleaf. Will it be renovated and used by USM, or simply sold?"

I have a couple of serious questions. Just what was did USM have in mind by buying that grocery store building? Also, what was the purpose of buying the old antique mall building over on Main Street? Were those purchases for real estate speculation, for some useful academic purpose, or for something else?

Date: Aug 14, 2004

quote:
Originally posted by: Inquiring minds want to know
"I have a couple of serious questions. Just what was did USM have in mind by buying that grocery store building? Also, what was the purpose of buying the old antique mall building over on Main Street? Were those purchases for real estate speculation, for some useful academic purpose, or for something else? "

The grocery store was supposed to be nursing, then the Trent Lott Center for Economic Development (?). The old high school/antique mall was supposed to house the art department. There was a big article on the latter in the Hattiesburg American this spring.

Date: Aug 14, 2004

quote:
Originally posted by: Inquiring minds want to know
"Just what . . . did USM have in mind by buying that grocery store building? "

Semantics: USM doesn't have "a mind" -- or it has lots of minds that are not always in sync.

For example: a long, long time ago some property adjacent to campus was sold to a local real estate developer after USM (via a particular VP) declined to buy it at the same price. The real estate developer started marketing the property, and eventually sold it -- at a substantial profit -- to USM. Why? Because, during the interim, the then-president became aware of the situation and had a vision for the use of that property that the VP had not anticipated.

Maybe something similar is going on with the old Albertson's building and the old High School. Anyone who reads the Hattiesburg American knows that Albertson's sold the building at auction to Ray Sims for something like $1.2 million. Mr. Sims was the only bidder, if I remember correctly. He later sold the property to USM. I think the price was in the paper, too, but I don't remember. Seems like it was at a profit, though.

USM bought the old High School from the Downtown Association who had received it by partial gift and partial sale from Ray Sims. (I don't know if USM has already actually acquired title from the association, or just announced plans in the newspaper.) I don't know why Mr. Sims didn't just do the original deal with USM instead of the Downtown Association. Seems like any tax benefit he might have received would be the same because the association and USM are both charities, I assume.

I am just connecting a few dots here, not trying to draw any pictures. Somebody a lot smarter than I am might make it all mean something.