Marshall '24 Budget Deficit

[Jbabbington]

Marshall has posted their '24 revenue and expenses projections. It looks like whatever Brad and Co. are doing is working. Our initial deficit of $28 million is now projected to be a deficit of $22 million in '24 - a 21% decrease.

Brad has publicly said that the University is working towards being profitable by '27.

 

[W-S HerdFan]

A lot of good things happening at the Alma Mater since Brad took the helm. What a Godsend he has been for MU!

 

[RhinoD]

Marshall has posted their '24 revenue and expenses projections. It looks like whatever Brad and Co. are doing is working. Our initial deficit of $28 million is now projected to be a deficit of $22 million in '24 - a 21% decrease.

Brad has publicly said that the University is working towards being profitable by '27.

When I was in town last week I was talking with some faculty members and one of them mentioned enrollment being up about 5 percent across the board this year... That's a good place to start... Keep growing the university.

 

[Jbabbington]

When I was in town last week I was talking with some faculty members and one of them mentioned enrollment being up about 5 percent across the board this year... That's a good place to start... Keep growing the university.

Consensus on the new Cyber Security Institute is that it's going to bring in like 1,500 new students.

Speaking of that, I read where Kentucky, Ohio, Alabama, Mississippi and Tennessee have all gotten on board with the Institute. Making it the Appalachia hub, and they're all going to send their employees, students, etc. here for training and mentorship.

 

[oldeherd]

Consensus on the new Cyber Security Institute is that it's going to bring in like 1,500 new students.

Speaking of that, I read where Kentucky, Ohio, Alabama, Mississippi and Tennessee have all gotten on board with the Institute. Making it the Appalachia hub, and they're all going to send their employees, students, etc. here for training and mentorship.

If it comes to fruition, could be a significant economic boost for Huntington and nearby area, with increase in spending around the area, motels, restaurants, etc., etc. Hopefully, once it is fully up and running, it will be able to perhaps draw some PRIVATE investment into the area, which would mean additional JOBS in the City/Area!

 

[Surbadger]

I have been told that they had too many students for available housing this year and they had to open up Holderby Hall again for the overflow.

 

[goherd73]

Marshall BOG meeting this morning according to HD reporting.

Agenda: approving a helicopter for Bill Noe flight school. Only training for rotary wing aircraft east of Colorado. Plan is by 2028 to have 28 airplanes, 5 helicopters and 5 simulators for the school! Talk about growing!

2nd hanger to be built at the flight school.

Approval for the building of the Institute of Cyber Security at $45 million. Construction to begin nest Summer.

“Recognizing West Virginia is the only state that in its entirety resides within the Appalachian Region, Marshall University has teamed with Alabama, Kentucky, Mississippi, and Tennessee — both 2- and 4- year institutions — and the Appalachian Regional Commission to develop a national cyber security workforce model piloted in Appalachia and led by West Virginia,” the section in the agenda continues. “Through this effort, West Virginia will be transformed into the Cyber Security Hub of Appalachia.”

Marshall BOG to consider approval of construction projects, purchase of rotorcraft for flight school this week

HUNTINGTON — The Marshall University Board of Governors will consider approving two construction projects and purchasing an Airbus rotorcraft (helicopter) for the Bill Noe Flight School when it meets in

www.herald-dispatch.com

 

[Herdguy04]

Marshall BOG meeting this morning according to HD reporting.

Agenda: approving a helicopter for Bill Noe flight school. Only training for rotary wing aircraft east of Colorado. Plan is by 2028 to have 28 airplanes, 5 helicopters and 5 simulators for the school! Talk about growing!

2nd hanger to be built at the flight school.

Approval for the building of the Institute of Cyber Security at $45 million. Construction to begin nest Summer.

“Recognizing West Virginia is the only state that in its entirety resides within the Appalachian Region, Marshall University has teamed with Alabama, Kentucky, Mississippi, and Tennessee — both 2- and 4- year institutions — and the Appalachian Regional Commission to develop a national cyber security workforce model piloted in Appalachia and led by West Virginia,” the section in the agenda continues. “Through this effort, West Virginia will be transformed into the Cyber Security Hub of Appalachia.”

Marshall BOG to consider approval of construction projects, purchase of rotorcraft for flight school this week

HUNTINGTON — The Marshall University Board of Governors will consider approving two construction projects and purchasing an Airbus rotorcraft (helicopter) for the Bill Noe Flight School when it meets in

www.herald-dispatch.com

I know a girl who bartends, might be barely over 21 and is already a certified pilot. Now she's going for her multi-engine aircraft and CFI training.
That flight school is very popular. The initial student body for the first class, has now doubled in the second year, and the demand is so high for pilots and flight maintenance, that there's a waitist to enroll...at least what I heard from one of the people from the school.

I see those green and white planes all over the area.
Big things for MU's future, no doubt.

 

[herdfan429]

I know a girl who bartends, might be barely over 21 and is already a certified pilot. Now she's going for her multi-engine aircraft and CFI training.
That flight school is very popular. The initial student body for the first class, has now doubled in the second year, and the demand is so high for pilots and flight maintenance, that there's a waitist to enroll...at least what I heard from one of the people from the school.

I see those green and white planes all over the area.
Big things for MU's future, no doubt.

You can sit for your pilots license at 16 begin taking classes at 13-14 I believe.

 

[muthed]

I have been told that they had too many students for available housing this year and they had to open up Holderby Hall again for the overflow.

Building names have changed somewhat since I was there. Which one is Holderby?

 

[goherd73]

Building names have changed somewhat since I was there. Which one is Holderby?

You remember it as South Hall.

 

[Herdguy04]

Building names have changed somewhat since I was there. Which one is Holderby?

Weren't they going to eventually tear that dorm down?
It's pretty old, has no A/C, and kind of blocks easier access to campus.

But that was years ago when I heard about that so who knows.

 

[ru4_mu2]

Weren't they going to eventually tear that dorm down?
It's pretty old, has no A/C, and kind of blocks easier access to campus.

But that was years ago when I heard about that so who knows.

That was the plan then covid hit and it was used to house the ones that had to isolate. Now it's being used for enrollment since it's up.

 

[Jbabbington]

Weren't they going to eventually tear that dorm down?
It's pretty old, has no A/C, and kind of blocks easier access to campus.

But that was years ago when I heard about that so who knows.

It's coming down next summer

 

[Rock98Dog]

This is what happens when you put an accomplished businessman in an industry run by a bunch of “in theory” types. The competitive advantages of being able to mold the school in areas of growth to serve your clients instead of forcing your clients into your existing mold can’t be understated.

Offering programs in growth fields where students can see their future path is better than saying “get an English degree and figure out how to make a living with it”.

Also, I saw on the news that some WV HS are switching to solar power. It’s being funded through a large grant from Intuit. Never mentioned Brad, but you know he had to have something to do with it.

 

[MStap]

Its exciting to see Marshall's advances and growth in aviation, medicine, cyber security, and business. Expanding in these in demand and high paying sectors will pay multifaceted dividends to Marshall for decades.

In 20 years I believe we will look at hiring Brad as one of the best things that ever happened to Marshall and even Huntington. The best part is he wants to be here and true loves the school and community. While he could buy a private island and private jet to just live a life of luxury, he would rather be here helping Marshall and Huntington grow.

 

[Jbabbington]

Does anyone know if Marshall will have the two properties next to the one they just demolished for the Institute?

This thing is going to be almost 100,000 sq/ft and the lot they have been working on is definitely not big enough.

I'm assuming that they do since they approved construction for next summer, but haven't seen this mentioned.

 

[MStap]

I would think they at least need the property with the two apartments buildings next door for space. An entity call FPMU Marshall LLC bought them in March of this year. I would assume that is Fairmount Properties Marshall University. Fairmount is the developer with the innovation district.

After that heading West the next three properties are Frank's. I get my hair cut at Frank's and he mention he has no intention to sell for what they are offering. He plans to fight it so we will see with that. My guess is Marshall and the developer will over pay a little and it will be too much to turn down.

 

[Jbabbington]

I would think they at least need the property with the two apartments buildings next door for space. An entity call FPMU Marshall LLC bought them in March of this year. I would assume that is Fairmount Properties Marshall University. Fairmount is the developer with the innovation district.

After that heading West the next three properties are Frank's. I get my hair cut at Frank's and he mention he has no intention to sell for what they are offering. He plans to fight it so we will see with that. My guess is Marshall and the developer will over pay a little and it will be too much to turn down.

I have a friend who gets his haircut done by Frank as well and he told me Frank is going for the bag lol.

Does Marshall have the authority to eminent domain anyone who becomes an issue in the plan?

 

[RhinoD]

I have a friend who gets his haircut done by Frank as well and he told me Frank is going for the bag lol.

Does Marshall have the authority to eminent domain anyone who becomes an issue in the plan?

Not necessarily, but MU, Huntington, the State of WV, etc are not going to let one guy stand in the way forever... If they need his properties they will "make him an offer he can't refuse" or "engineer" a workaround that makes him miserable until he sells.

 

[goherdorgohome2]

Does anyone know if Marshall will have the two properties next to the one they just demolished for the Institute?

This thing is going to be almost 100,000 sq/ft and the lot they have been working on is definitely not big enough.

I'm assuming that they do since they approved construction for next summer, but haven't seen this mentioned.

Maybe the only way to go it up… 4 or 5 stories… very possible

Real question is parking..

 

[Jbabbington]

Maybe the only way to go it up… 4 or 5 stories… very possible

Real question is parking..

I don't know if those renderings are set in stone, but when they were released there was a pretty nice 4-5 story parking garage built into the back of one of the buildings.

 

[MStap]

Marshall would likely get it through eminent domain, however, that would be an expensive legal battle and the bad PR route. They are more likely to give Frank an offer he can't refuse.

 

[Jbabbington]

Marshall would likely get it through eminent domain, however, that would be an expensive legal battle and the bad PR route. They are more likely to give Frank an offer he can't refuse.

Frank's not the only one though, right? From what I've heard they plan to take the district all the way down to 14th street. That's a lot of real estate to get your hands on.

 

[GeauxHerd]

Frank's not the only one though, right? From what I've heard they plan to take the district all the way down to 14th street. That's a lot of real estate to get your hands on.

 

[MStap]

Frank's not the only one though, right? From what I've heard they plan to take the district all the way down to 14th street. That's a lot of real estate to get your hands on.

Marshall already owns about half of it between the cyber security institute property, the business center, and the big parking lot. They also bought one of the buildings across from the apartments next to the corner building they just tore down. The rest are owned by several other entities but mostly Frank and Wandering LLC.

They will probably just continue to grab up space slowly as it becomes available. I hope they continue the public-private partnerships like with the rec center, freshman dorms, and the cyber security center. Have the company put up the money and build it then after a certain time it gets turned over to Marshall. It is a great way to get these large scale project going without needing the have the capital.

 

[muthed]

I understand that there's going to be some retail space on the ground level of the Brad Smith business bldg. Maybe they could offer him a spot there and give him a fair price on his properties. Plus, Frank's no spring chicken. I first went to Frank in 1965, and I believe he had been cutting hair for a couple of years at another shop close by. Then moved to the present location. By my math, he must be in his 80s. What an icon. I wonder how many MU students have had their hair cut by Frank?

 

[GeauxHerd]

I understand that there's going to be some retail space on the ground level of the Brad Smith business bldg. Maybe they could offer him a spot there and give him a fair price on his properties. Plus, Frank's no spring chicken. I first went to Frank in 1965, and I believe he had been cutting hair for a couple of years at another shop close by. Then moved to the present location. By my math, he must be in his 80s. What an icon. I wonder how many MU students have had their hair cut by Frank?

What’s a 1965? I kid I kid 😅

 

[herdfan06]

I understand that there's going to be some retail space on the ground level of the Brad Smith business bldg. Maybe they could offer him a spot there and give him a fair price on his properties. Plus, Frank's no spring chicken. I first went to Frank in 1965, and I believe he had been cutting hair for a couple of years at another shop close by. Then moved to the present location. By my math, he must be in his 80s. What an icon. I wonder how many MU students have had their hair cut by Frank?

I was just going to say that he and the others (if they have not already) must be getting pretty close to retirement.

 

[oldeherd]

I understand that there's going to be some retail space on the ground level of the Brad Smith business bldg. Maybe they could offer him a spot there and give him a fair price on his properties. Plus, Frank's no spring chicken. I first went to Frank in 1965, and I believe he had been cutting hair for a couple of years at another shop close by. Then moved to the present location. By my math, he must be in his 80s. What an icon. I wonder how many MU students have had their hair cut by Frank?

Was going to comment that he's been at his vocation over 50 years, at least. Time to hang it up, for sure. Got to MU before 65, and he wasn't working as a barber at that time. In fact, there was a popular pizza place across 4th Ave. from his later barber shop and he worked there. Sold pizza by a (big) slice, IIRC. Maybe he was going to the Huntington Barber College at the time. The pizza place was pretty close to the Ralston LTD men's shop if anyone remembers it. The owner of that business was a MU supporter and killed in the 1970 plane crash.

 

[MStap]

I think Frank is going to keep going until he physically can't, which I respect. I'm a big believer of property rights but, at some point individuals can deter projects that would greatly benefit the entire community (see, Toyota plant that was originally going to be in Cabell County but a family would not sell their farm).

I think Frank owns 4 or 5 of the buildings in that area of 4th ave so one of his primary concerns is all the lost rent he would be accumulating over the years. If I'm at Marshall, I'd offer to buy other properties that are slightly higher in value and generate slightly more rent and propose a trade of the properties. Probably throw in a cash incentive as well.

 

[goherd73]

 

[Jbabbington]

Speaking of development, what the hell is going on with the Coal Exchange Building? I know the owner of the Double Tree bought it like three-months before the pandemic, but it's been silent since then.

Last I heard was he wanted to completely renovate it but it would cost millions and millions due to just being outdated in every way.

 

[The Real SamC]

Marshall, being the State of West Virginia, certainly has the power of eminent domain. But understand how that works. MU can get an appraiser, pay Fuscaldo that amount, and tell him to GTFO. And that is that.

Until the trial, which will be years later, after everything is all built and most people don't even remember what it used to look like. Understand that for every expert, there is an equal and opposite expert. So he finds some realtor who says, "no, its worth gazillions and gazillions of dollars". And understand how courts work. Juries are made up of people too stupid to get out of jury duty. So they fall for it, and MU is on the hook.

This is why MU never condemned the old s***y furniture store that eventually became the expansion space for Fat Patty's. They were afraid they would get reamed out in court.

MU was royally reamed out by the courts back when the land for the stadium was bought. Stuff like that is not forgotten, even today.

 

[MStap]

Marshall, being the State of West Virginia, certainly has the power of eminent domain. But understand how that works. MU can get an appraiser, pay Fuscaldo that amount, and tell him to GTFO. And that is that.

Until the trial, which will be years later, after everything is all built and most people don't even remember what it used to look like. Understand that for every expert, there is an equal and opposite expert. So he finds some realtor who says, "no, its worth gazillions and gazillions of dollars". And understand how courts work. Juries are made up of people too stupid to get out of jury duty. So they fall for it, and MU is on the hook.

This is why MU never condemned the old s***y furniture store that eventually became the expansion space for Fat Patty's. They were afraid they would get reamed out in court.

MU was royally reamed out by the courts back when the land for the stadium was bought. Stuff like that is not forgotten, even today.

A lot of this is wrong. The entity using eminent domain is required by law to enter into good faith negotiations with the property owner. After negotiations, they have to petition the Circuit Court who will then have to rule whether the entitle can lawfully use eminent domain. If so, the Court appoints a five person compensation commission to determine the fair market value of the property. The property owner can challenge whether there is an appropriate public use of the property fitting the limitations of eminent domain. They can also challenge with commissions property valuation which could eventually go to a jury.

If Marshall got an appraiser, sent Frank that amount, and told him to leave the property they would have created a MASSIVE problem for themselves.

 

[Herdguy04]

This is why MU never condemned the old s***y furniture store that eventually became the expansion space for Fat Patty's. They were afraid they would get reamed out in court.

MU was royally reamed out by the courts back when the land for the stadium was bought. Stuff like that is not forgotten, even today.

I'm pretty sure that furniture store owner openly opposed MU and their expansion. He used to brag through displaying article titles about he "won" against MU.
Not sure the details but he kept asking for an astronomically large amount, despite MU making offers that were overly generous.
Amidst his poor attitude towards Marshall and his family pressuring him to sell (no way that store could last) he wisely died. His family sold it to Clint, who expanded Fat Patty's.

Not sure how Frank feels about MU expanding into his building, but I imagine he wouldn't oppose it if MU made a good offer.
Back in the day, the arrogant leadership of Huntington really thought Marshall needed the city to survive, when it is in fact, the other way around.
I also imagine Brad Smith's influence for what he is showing Marshalls potential, would be enough for him to say, "I like your offer, good for me, good for MU, good for Huntington. Sold."

 

[ARandomHerdFan]

A lot of this is wrong.

Sam is wrong about something?

There’s no way.

 

[W-S HerdFan]

Was going to comment that he's been at his vocation over 50 years, at least. Time to hang it up, for sure. Got to MU before 65, and he wasn't working as a barber at that time. In fact, there was a popular pizza place across 4th Ave. from his later barber shop and he worked there. Sold pizza by a (big) slice, IIRC. Maybe he was going to the Huntington Barber College at the time. The pizza place was pretty close to the Ralston LTD men's shop if anyone remembers it. The owner of that business was a MU supporter and killed in the 1970 plane crash.

The gentleman’s first name was Muriel, I think…

 

[W-S HerdFan]

And Sam: At least get Frank’s last name right! It’s Fuscardo. I used to go in there as a teen to get cut. The ultimate pre-cursor to the iPhone was available to “browse” while you waited. And Miss September was one to remember!

 

[The Real SamC]

A lot of this is wrong.

You know nothing about how courts work.