After 18 months on the job, the Red Deer College president is selling off a piece of it. Joel Ward has announced that the college is selling the bookstore to a private company.
He says the college will save by not paying for upgrades and renovations and the company that buys the bookstore will still contribute the same amount to operations as the college-owned bookstore did.
So, the private company is going to spend $1 million to $2 million on renovations and still contribute $400,000 or more to the college? Hard to believe, but it is a win-win solution, unless you consider that all the bookstore employees will be laid off, the price of textbooks will have to go up and the community of the college will be irrevocably damaged.
The college sees the short-term gain but will quickly realize the long-term loss. Loss by selling off an asset that contributed to the college, loss by laying off dedicated, hard-working employees and the loss in and for the college community.
Shame on you, Red Deer College, shame on you.