5 ms·
It seems incredibly convenient that a non-profit's leaders can say "I want equity in a for-profit company, so we will sell our assets to investors (who will hir
by kweingar 2y ago
It seems incredibly convenient that a non-profit's leaders can say "I want equity in a for-profit company, so we will sell our assets to investors (who will hire me) and pass off the proceeds to some other non-profit org run by some other schmuck. This is in the public interest."
- n2d4 2y agoState regulators have to sign off on the deal; it's not sufficient for the non-profit board to agree to it.