PASSHE Institutions Merging

[Bart]

SSHE begins selling property.

https://www.pennlive.com/news/2020/0...dquarters.html

[iupgroundhog]

SSHE begins selling property.

https://www.pennlive.com/news/2020/0...dquarters.html

Smart move.

[Fightingscot82]

I've never been to Dixon. Never realized it was such a complex. I appreciate the chancellor opting for a smaller residence while his family remains in California. Reduce footprint and rent space in a better location.

[WarriorVoice]

I can imagine many sales of buildings in the near future at PASSHE schools. For example, the KCAC...Who thought a convention center in Indiana, PA was a good idea? It's a wonderful arena, but is it paid off, or does it have a killer monthly mortgage payment?? Think of the renovations that could have been done at Miller Stadium with that money...

[Fightingscot82]

I can imagine many sales of buildings in the near future at PASSHE schools. For example, the KCAC...Who thought a convention center in Indiana, PA was a good idea? It's a wonderful arena, but is it paid off, or does it have a killer monthly mortgage payment?? Think of the renovations that could have been done at Miller Stadium with that money...

I know you're trolling, but...the state actually contributed a portion of the construction costs. The idea was to shift events from worn out Johnstown facilities to Indiana, PA where there are several regional businesses headquartered on top of the university business. It's somewhat successful. The facility is an obvious upgrade from the arena in Johnstown plus the university allure helps make a few more shows happen. Location doesn't really matter as long as you're paying the artist's fee and they can fit it into their tour plans. Nobody is like "Hmm Indiana, PA sounds like a nice place for a show." Its more like "Our appearance fee is $75,000. We'll send the contract and the rider for green room setup."

But First Commonwealth is downsizing. Should be interested to see if S&T follows a similar trajectory and how that affects the local economy.

[IUPbigINDIANS]

I know you're trolling, but...the state actually contributed a portion of the construction costs. The idea was to shift events from worn out Johnstown facilities to Indiana, PA where there are several regional businesses headquartered on top of the university business. It's somewhat successful. The facility is an obvious upgrade from the arena in Johnstown plus the university allure helps make a few more shows happen. Location doesn't really matter as long as you're paying the artist's fee and they can fit it into their tour plans. Nobody is like "Hmm Indiana, PA sounds like a nice place for a show." Its more like "Our appearance fee is $75,000. We'll send the contract and the rider for green room setup."

But First Commonwealth is downsizing. Should be interested to see if S&T follows a similar trajectory and how that affects the local economy.

First Commonwealth is downsizing -- closing about 30-some branches. Smart move. Many, many banks will do the same (PNC just closed 50). As this older generation dies out, hardly anybody will still actually go in to a bank.

The KCAC isn't 'new' anymore. It's going on 10-11 years already.

And, yeah, IUP will sell the KCAC. LOL. Who the F would buy it? And, why on Earth would they sell it?

[Fightingscot82]

First Commonwealth is downsizing -- closing about 30-some branches. Smart move. Many, many banks will do the same (PNC just closed 50). As this older generation dies out, hardly anybody will still actually go in to a bank.

The KCAC isn't 'new' anymore. It's going on 10-11 years already.

And, yeah, IUP will sell the KCAC. LOL. Who the F would buy it? And, why on Earth would they sell it?

My wife works for a small business that doesn't do direct deposit. For the first few months of Covid, it was impossible to deposit her check at an ATM. Boomers were in a panic - they needed their cash. The lines to get a teller were a couple hundred yards long. Then suddenly they realized cash is dirty as if they hadn't told their kids for years not to put coins in their mouth or to wash their hands after counting bills.

[IUPbigINDIANS]

My wife works for a small business that doesn't do direct deposit. For the first few months of Covid, it was impossible to deposit her check at an ATM. Boomers were in a panic - they needed their cash. The lines to get a teller were a couple hundred yards long. Then suddenly they realized cash is dirty as if they hadn't told their kids for years not to put coins in their mouth or to wash their hands after counting bills.

I agree 'some' banks will still be needed but the days of, say, S&T, having 7 locations JUST in Indiana will soon be long gone. Personally, I don't think I've been inside an actual bank in probably 7-8 years.

[WarriorVoice]

First Commonwealth is downsizing -- closing about 30-some branches. Smart move. Many, many banks will do the same (PNC just closed 50). As this older generation dies out, hardly anybody will still actually go in to a bank.

The KCAC isn't 'new' anymore. It's going on 10-11 years already.

And, yeah, IUP will sell the KCAC. LOL. Who the F would buy it? And, why on Earth would they sell it?

If you haven't noticed, no one is convening these days...How much $$ is that arena eating in debt service?!

[IUPbigINDIANS]

If you haven't noticed, no one is convening these days...How much $$ is that arena eating in debt service?!

Right because the KCAC is the only such facilty in the country. Good effort on the troll, though.

No reason to mention the Angelo Dome or Clarion's new $72m Tippin renovation ... or countless others.

These buildings are what they are ... they can't sell them. For starters, nobody would buy them.

They are a financial drain right now ... just like the whole state system is, too.

[Fightingscot82]

Right because the KCAC is the only such facilty in the country. Good effort on the troll, though.

No reason to mention the Angelo Dome or Clarion's new $72m Tippin renovation ... or countless others.

These buildings are what they are ... they can't sell them. For starters, nobody would buy them.

They are a financial drain right now ... just like the whole state system is, too.

Actually, the state paid about 95% of the cost of that Tippin renovation. They got a good deal!

[Matt Burglund]

the KCAC...It's a wonderful arena, but is it paid off, or does it have a killer monthly mortgage payment?? Think of the renovations that could have been done at Miller Stadium with that money...

It was paid off in 2014.

[WarriorVoice]

It was paid off in 2014.

Thanks!

[IUPNation]

SSHE begins selling property.

https://www.pennlive.com/news/2020/0...dquarters.html

Maybe they should move in the The Home Office In Lock Haven.

[IUPNation]

First Commonwealth is downsizing -- closing about 30-some branches. Smart move. Many, many banks will do the same (PNC just closed 50). As this older generation dies out, hardly anybody will still actually go in to a bank.

The KCAC isn't 'new' anymore. It's going on 10-11 years already.

And, yeah, IUP will sell the KCAC. LOL. Who the F would buy it? And, why on Earth would they sell it?