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Will Whittle be around next year?
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Anonymous
| Any updates on the funds? Are any teachers still left teaching after this mess? |
Anonymous
Still on extended break, so who knows which teachers have left. |
Anonymous
Our community raised close to $1 million in funds. 800k was acquired through bridge loans and more to come. Faculty was paid, thank goodness for that. Our teachers continue to be amazing. A lot of services have been discontinued due to lack of funds (lunch, cleaning security). The hope is that parent funds will be used for this. Some of us are super stressed while others are hopeful and they are die hard Whittle fans. I was annoyed that our kids are home until January 18 but we aren’t getting a firm answer on how long the school will stay open for. My kids are young so they need my attention all the time. I’m so frustrated that I’ve had to pay tuition and still get a babysitter so I can work. We are moving next year so I’m holding on to avoid an unnecessary transition. DH and I were just saying that this school is not worth the stress we are feeling currently. |
Anonymous
| Why don't you walk in to your neighborhood public school and enroll your kids? |
Anonymous
She explained that, reasonably so, IMO:
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Anonymous
Can everyone in this private school thread stop asking this question. Been there, done that, not interested in public schools. It’s also not hard to transfer to another private school mid-year, even though some on this forum make it out to be impossible. There are always other options, so stop promoting public options we are all aware of. |
Anonymous
| knowing what's going on with Whittle, I would call some areas schools and inquire. They make exceptions for people moving in the area mid year so they may be sympathetic. |
Anonymous
| Are they virtual until the 18th, or actually closed? (I realize for those with young kids the childcare burden is the same either way. Just wondering.) |
Anonymous
It speaks volumes about you that you’re so disinterested in public schools that you’ll allow your kid to be a sociological experiment—and apparently an expensive one at that— run by a known scam artist with a 30+ year history of failure. |
Anonymous
ohhhhh wow..so did Whittle Management say " hey we know it's illegal when there are writs enforced against us to use incoming funds for anything other than for salaries, wages or commissions--but hey...between us...this is really "just for lunch"..so.... can you Venmo my Caymans account?"....................... |
Anonymous
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How did they get a bridge loan unless it's clear that there's significant other money coming?
But who would be willing to pony up a bunch of new investor money for them now when the current tuition and enrollment aren't even sufficient to meet payroll for months that have already passed -- and when they had to beg the parents/customers for an additional "donation" to pay their essential workers? What's this bridge loan a bridge to? |
Anonymous
My takeaway here is that jesus, people have too much money if its no big deal to throw tens of thousands of dollars of good money after bad. And they know it. |
Anonymous
+1 |
Anonymous
Also, what is it secured against? |
Anonymous
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They only things that I could fathom could possibly securitize the loan:
1. If somehow the already-paid for improvements to the Intelsat building are so remarkable that the lease itself is of some value relative to the current market value of the property with the improvements. An example would be the Trump hotel. Even though it's a lease, the work they did to the property makes the relatively low lease cost of value, thus the bidding war that ended with Hilton acquiring the lease to convert into a Waldorf Astoria. This is very very unlikely. And please don't take this as anything political - certainly not intended as such. 2. Other properties in the Whittle quasi-portfolio. For example, the bridge loan could come from Chinese funds collateralized by his property in Shenzhen. This seems marginally more likely given the opaqueness of everything Chinese and his relationship with them. 3. I think we can dispel with the notion that the Chinese government cares enough about this - for whatever reason - to prop it up. But, theoretically, it's possible. 4. Lastly, it's just total BS. We'll see in a month that checks were bounced, funds stolen and lies told to bridge together enough to keep the musical chairs going for another few weeks as the Titanic points south. |