Apparently, Richard knew it was coming.

g-UPDATE: And now he’s admitting mistakes. It’s a start…


2 Responses to ORU LAWSUIT: God Told Me So

  1. stephanie says:

    The article mentions the years I was there, hearing, on an almost daily basis, how he’d cut the debt in half. It’s really too bad how so many people are full of it. I was always on President Robert’s “side” but if I would have known he was lying day after day, I would have been pretty upset.

  2. fritch says:

    I could be wrong, but I believe the article & Richard were both a bit misleading. I think the facts – which I gleaned during my time at ORU – are that when Richard took office in 1993 or 92, he immediately did a number of things which cut the debt in pretty much in half – from roughly $47m to around $23m. I have just heard recently that what he did was essentially sold some real estate holdings in Tulsa that ORM or ORU had, and used the proceeds to pay down the debt. He did other things along the way as well (they discontinued lock-in tuition right before I started at ORU). When I graduated in 2001, I believe the debt had creeped back up to the mid-thirties. Not as bad as it had once been, but definitely heading in the wrong direction. Thus, I think it is technically true that Richard did cut the debt in half early on, but in almost 15 years, he has been unable to sustainably alter the cashflow crisis that has fed the debt. To his credit, he did seem to do an awful lot of fundraising while I was there. I just think more drastic or creative measures were probably in order on both the income and expenditure sides of the coin, as he wasn’t even keeping up with the debt, much less paying it down. After 15 years, that is disappointing, but I’m willing to give him some benefit of the doubt since I’m sure most of the solutions weren’t easy. And I do know that he was almost able to sell Citiplex/City of Faith a few years ago, which would have eradicated the debt and endowed the university for well over $100m. But the deal fell thru after it was announced by Richard himself – I don’t know why.

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