Word: hdns
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Recently Dean Epps "co-signed $14,000 in loans and used $2,000 in 'discretionary funds'... to pay off the debts and expenses incurred by Harvard Delivery News Service (HDNS)" that resulted from embezzlement of about $6000-$7000 by HDNS's former manager. In conversations after the signing, Dean Epps learned that former manager, Martin Olive, was a cocaine user. Is it too naive to associate cocaine use with embezzlement of large sums of money? Yet despite a perhaps logical association, Epps has chosen not to prosecute because of "concern for (Olive's) personal situation...
Although Mitchell W. Smith '82 assumed HDNS's managerial position in early February, Epps said that he and Smith did not fully piece together the news service's financial record--which were left by Olive in what Epps calls "complete disorganization"--for well over two and a half months...
...bills had fallen due far before that mid-April point; News Distributors, Inc.--the wholesaler that sells the Times to HDNS--was demanding payment on the largest, a $7444.62 bill in early March, while the Boston Globe looked for HDNS to come up with $2000 to $3000 to take care of another outstanding debt...
Interested in keeping service running as smoothly as possible--after a very bumpy fall, epitomized by highly erratic delivery--Epps decided to bail HDNS out by co-signing with Smith for $14,000 in loans from Cambridge Trust Company and by allocating $2000 from a "discretionary fund" available to him as dean...
...Epps and Olive agreed that Olive would instead make a $5000 restitution to the service in a series of payments. So far, Olive has paid only $1400 of the total, and HDNS still has a $5000 debt with Cambridge Trust...