Williams’ wheels slowed

Waste makes waste.

That’s the lesson Eddie Williams, vice president of Finance and Planning, has learned about bond refinancing.

Williams tried to ram through the Board of Regents a proposal to refinance NIU’s bonds last December. Williams wanted to garner approval for funds to do the initial feasibility study, then get an emergency authorization if NIU wanted to proceed before the January Regents meeting.

However, someone within the Regents hierarchy managed to slow Fast Eddie’s wheels, as NIU was forced to wait until the January meeting before getting any approval to go ahead.

But at January’s meeting, the refinancing proposal went the way of the DeKalb Civic Center—it was nowhere to be found.

Williams now claims it is better for NIU to wait and see if it can nab a better interest rate. Well Dr. Williams, when were you wrong, then or now?

In addition, Williams shelved discussion of the Student Life Center in December just so the issue wasn’t confused with the bond refinancing. With the March meeting looming ahead, it seems as though the two issues will coincide. Of course, this is only proper as everyone knows the bond refinancing money will go directly to the SLC.

Apparently, NIU should be thankful that someone behind the scenes derailed Fast Eddie’s refinancing freight train before it crashed and cost NIU students a great deal of money.