make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Alumni group seeks board ouster at NC school


RALEIGH, N.C. -- The national alumni association of one of the oldest historically black colleges in the South is calling for the board of the North Carolina school to step down or be fired because of continuing financial problems.

The News & Observer of Raleigh reported the alumni association of Shaw University in Raleigh addressed its letter to the school's board chairman, multimillionaire lawyer and alumnus Willie Gary of Stuart, Fla.

The May 14 letter from association president Emily Perry says the group has serious concerns about "conflict of interest, fiduciary responsibilities" and other matters.

Shaw has debt of more than $20 million.

Gary says he doesn't plan to step down or seek anyone's ouster. He says he hasn't kept up with a $10 million pledge he made 10 years ago because of the economy.

Information from: The Charlotte Observer

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.