Doing Some Downgrading
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No, I’m not doing any downgrading… Standard & Poor’s is! Why should you care then? That’s easy – they are downgrading Babson!
Yes, indeed. Babson just can’t seem to keep control of its finances. You can read more in this article in the Boston Business Journal, but I figured I would quote a bit for you:
Babson College touts its reputation for entrepreneurship training. However, one trait rarely shared with the public is that the school, laboring under years of budget deficits, has been downgraded twice in the past four years by Standard & Poor’s.
Wow, twice in the last four years! That’s no laughing matter. Even worse, Moody’s gives a negative outlook for the future. Ya know, when this happens to big companies, they usually make some changes…
I propose that (other than just firing them, which sounds like a pretty good idea) all Babson admin should sit through a semester of IME 2 to figure out some basic finance.
This entry was posted on Friday, October 13th, 2006 at 12:03 am and is filed under Crap, Crapmaster, General. You can follow any responses to this entry through the RSS 2.0 feed.
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Do you know what we were downgraded too? Great pick up on whoever noticed this. How far are we from junk bond status?
Funny that I did not find it in one of those “Babson in the News” emails….
An Entrepreneur:
if you actually read the whole article and not just the headline you would have read:
“Babson is hardly in financial trouble. S&P gives the school the equivalent of an 8 on a 21-step scale — still “investment grade” territory for bond buyers. But it’s an unusual example of a school’s finances not living up to its academic stature.”