News from the South - North Carolina News Feed
Worries arise that loan to Saint Augustine's University could threaten school's future
SUMMARY: St. Augustine’s University faces significant financial struggles, with millions in debt raising alarms among community members regarding its partnership with Gothic Ventures. Concerns center on the 24% interest loan agreement, which includes a 2% management fee and collateralizes campus properties. Critics fear that failure to repay could lead to the university’s closure. Gothic Ventures, noting the university’s financial challenges, expressed a willingness to discuss modifying the loan terms. Opponents demand changes like lowering the interest rate to 9% or enabling debt transfer to alleviate the strain on the historically Black college and secure its future.
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A group of leaders are worried about a $7 million loan given to Saint Augustine’s University. The group includes religious leaders, social justice advocates and SAU alumni. Together, they spent Wednesday raising awareness about the loan and pushing for a solution to the school’s financial challenges.
Story: https://abc11.com/post/saint-augustines-university-despite-financial-accreditation-struggles-leaders-join-forces-push-save-hbcu/15563919/
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News from the South - North Carolina News Feed
Man shot dead by Vance County deputy
SUMMARY: A man was fatally shot by a Vance County Deputy near the intersection of West Young Street and Parham Street. The incident occurred after the man was pulled over while driving his pregnant girlfriend to the hospital due to her high-risk pregnancy. According to her, when the deputy discovered a warrant for the man’s arrest, he attempted to flee. The situation escalated, and he allegedly tried to spray the deputy with mace. The girlfriend expressed her concern for their safety and criticized the police response. The Vance County Sheriff’s Office has not released the suspect’s identity or further details.
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The man’s girlfriend told WRAL News he was on the way to the hospital to for pain caused by a high-risk pregnancy.
News from the South - North Carolina News Feed
Gov. Stein requests $19B in federal funding toward Helene disaster relief
SUMMARY: Hurricane Helen devastated Western North Carolina five months ago, causing over 100 deaths and $60 billion in damage. Recovery efforts continue under Governor Josh Stein, who recently requested $19 billion in federal aid, including funds for economic relief, housing repairs, infrastructure restoration, and disaster prevention. Local groups like the Appalachian Rebuild Project are actively addressing needs. The funds would support businesses, workers, and communities still reeling from the hurricane’s impact. Concerns about future funding cuts and the area’s historical neglect add urgency to the recovery. Stein’s request follows an earlier appeal for $1.1 billion in state funding.
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Gov. Josh Stein is seeking $19 billion in federal funding toward Hurricane Helene recovery. Following a meeting with North Carolina’s US Sens. Thom Tillis and Ted Budd, his office announced the request, providing a 48-page breakdown of how the money would be spent.
https://abc11.com/post/hurricane-helene-nc-gov-stein-requests-19-billion-federal-funding-relief/15942971/
https://abc11.com/ https://abc11.com/watch/live/11065013/
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News from the South - North Carolina News Feed
Musk waves a chainsaw and charms conservatives talking up Trump’s cost-cutting efforts
SUMMARY: Elon Musk appeared at a conservative conference outside Washington, brandishing a chainsaw to symbolize his efforts to reduce the size of the federal government. He touted his role in government efficiency, particularly with cuts at the IRS, which has laid off 6,000 workers. Although officials claim tax return processing is unaffected, concerns about delays remain. Musk proposed a $5,000 taxpayer dividend funded by the cuts and claimed support from President Biden. He also faced accusations of ties to Russia, amid tensions over Ukraine and Trump’s strained relations with President Zelensky. Musk dismissed these claims and continued advocating for budget cuts.
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Billionaire Elon Musk appeared at a conservative gathering outside Washington waving a chainsaw in the air, showing openness to auditing the Federal Reserve and accusing Democrats of “treason.”
More: https://abc11.com/post/elon-musk-waves-chainsaw-charms-conservatives-talking-trumps-cost-cutting-efforts/15941280/
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