By: Concerned OSU Parent

Concerned OSU Parent
Fri, 01 Dec 2017 22:42:58 +0000

Columbus Business First is calling Mr. Chatas the architect of “privatization deals that brought $2 billion to the school”. They count $500 million in bonds to make his “contribution” add up to $2B, suggesting that even Columbus Business First doesn’t distinguish between these bonds (manifest borrowing in the credit markets) and OSU’s privatization deals (thinly-disguised borrowing from private companies). Mr. Chatas actually should be described as the architect of $2B in borrowing, where the privatization portion of that borrowing is at effective rates that will cost OSU billions of dollars in bloated interest payments over the next 70 years. Quite a legacy. :-( Quite a public relations department at OSU. :-(

Fortunately, the Lantern did not fall into the trap of giving Mr. Chatas credit for bringing in $2B as if it were simply handed over to OSU. However, it did mistakenly use OSU PR terminology in calling the $1.165 billion from the energy privatization deal an “investment” in OSU. This is not an investment by OSEP. It’s a loan from OSEP. Even when most readers of this article have, shall we say, expired, OSU’s (over)payments on this loan will not yet have expired.