The University of Chicago’s Independent Student Newspaper since 1892

Chicago Maroon

The University of Chicago’s Independent Student Newspaper since 1892

Chicago Maroon

The University of Chicago’s Independent Student Newspaper since 1892

Chicago Maroon

The Co-Op Initiative

Well, it looks like the Co-Op isn’t too optimistic about its chances of actually getting that loan.

Well, it looks like the Co-Op isn’t too optimistic about its chances of actually getting that loan.Their main website is now advertising a fund raising campaign. They say they need $800,000 to be able to declare bankruptcy and that they have already raised $26,245. This seems like far too little, far too late, but we’ll see if they somehow pull it off.(Hat-tip: Tim, who scooped me on this one.)Update: The pdf that is attached to the website claims:

With the large-scale financing for Option B in place, the only funds needed are the fees for filing for Chapter 11 Bankruptcy. That’s $800,000, or just over $40 per member.

It is news to me that they have received the large-scale financing for Option B to succeed as their homepage says that they were just turned down for that financing. I’m not really sure what they mean by this. You’d imagine that they would be a little clearer, but they are only asking you to fork over a lot of money for a really silly purpose.

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