Word: hdns
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Harvard Delivery News Service (HDNS) will go out of business next month even if no group decides to take over its operations, University officials said yesterday after reviewing a report on the service's financial records...
...HDNS will reimburse full-year subscribers for one semester, with the College assuming whatever costs the service cannot pay, Martha Coburn, associate dean of the College, said last night...
Last year HDNS owed $14,000 to Cambridge Trust Company and Epps diverted $2000 in College discretionary funds to help pay off the debt. Martin Olive '78-4, manager of HDNS until last February, allegedly embezzled about half the missing funds. Olive recently paid back $5000 of his debt to HDNS, which Epps said would be applied to the service's present debt...
Officials have not decided what should be done about HDNS's present debt which one source estimates to be in the $2000 to $5000 range...
Coburn said one option officials discussed yesterday would require HSA to pay a fee to the College to take over the service. This fee would then be used to help pay off existing HDNS debts...