Fall 2009 Signet

PSKP has completed its second year of ownership of a property at Western Michigan University, since assuming management for the Chi Tetarton alumni housing corporation. We continue to work toward improving the financial operation of the property. While there have been some hurdles along the way, we continue to push toward making this a viable chapter home and we have a positive outlook on the future. PSKP extends its
thanks to Brothers John Bowker (Detroit ’59) and Mark Caldwell (Western Michigan ’98) for their continued support
at WMU.

Signet Fall 2009 Page 36
Signet Fall 2009 Page 37

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4 thoughts on “Fall 2009 Signet”

  1. The Signet article is quite informative and transparent regarding the situation at Indiana U, such as disclosing the sub lease etc. Regarding WMU, the article merely mentions that it had owned for 2 years. The 2007 article simply references having aquired the property.

    No details are given as to how PSKP aquired 446 Stanwood. Did it purchase it? Was it given to it for free? Did it foreclose on a loan to Housing Corp? Did PSKP win the property at a high stakes table on Poker Night? This was worth mentioning.

    It’s inconsistent that PSKP chose to not disclose how the property was acquired, yet was transparent regarding IU. Also, Kalamazoo County Register of Deeds has no record of PSKP aquiring the property. According to the county, Droopy Corp remained the owner from 2005 (transferred from Housing Corp) until 2010 (sale to Main Street Prop).

  2. Translation: IU alumni leaders demanded transparency. WMU leaders saw no need for transparency, as evidenced by the failure to disclose the Quit Claim to Droopy Corp, the $90,000 loan, the “transaction” with PSKP, and the 2010 sale to Main Street Properties.

  3. well, how did it work out? Has the transparency concept allowed IU to keep their house? We already know how the no-transparency concept worked out at WMU.

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