Tuesday, October 25, 2011
Selling a college
A business house was faced with a dilemma of whether to keep its business or give it up to the bankers who were ready to hang it. The business house also used to run an engineering college with high capitation fees. The sick unit was being eyed by a rogue politician. Finally, the businessman 'sold' his college at ten years estimated capitation fee to the politician. The politician got a college. The businessman retained his 'sick' unit, squared off his loans cheap and is trying to revive the company. And all of them lived happily, except the bankers who wrote off debts and now have to give new debts that will again go bad. Thus, the cycle of business goes on. One fine day, the college administration will change for the worse. The reputation of the college would take a beating. Unless of course, the politician realises that running a good college is more important than the business of politics, which is ephemeral. Students and faculty are on tenterhooks , wondering if the reputation of the college may be negatively impacted. Let us wait and watch.