honalieh
UKC Forum Member
Registered: Jul 2003
Location: PA
Posts: 2162 |
Another WVU issue.
This one is academic.
The Pittsburgh Post Gazette just published an article about an MBA degree scandal revolving around Governor Joe Manchins daughter.
She'd been promoted to C.O.O. of Mylan Labs. She claimed the MBA degree in the press release announcing her promotion to the $500,000/year position. This was put on file in documents with the SEC, and used at Investor meetings. The only other time the Post Gazette could find reference to this degree is when she claimed the credential when testifying before Congress in July 2006.
When the Post Gazette tried to verify the credentials, they were told by WVU that she had never earned the degree. She made it about half way through the program before dropping out.
Here's where it gets really interesting. WVU officials added 6 classes to her record, and changed 2 Incompletes, and awarded her the MBA degree retroactive to the date she claimed. This despite that their own records showed no evidence of her ever participating or taking part or paying for these classes.
There's a lot more evidence posted in this article about the whole situation. We've got the governors daughter involved. We got Mylan Labs (a huge contributor to WVU involved). We've got the new president of WVU (a high school classmate to the governors daughter, and long-time friend of the Manchin family) involved.
Misrepresentation to Investors? Misrepresentation to the SEC? Misrepresentation to Congress? This is huge!!! I wonder if Mylan, the Manchin family, and WVU have enough power to squelch this fiasco. This sounds like a "60 Minutes" story to me. If fully exposed, it could heavily impact the political power structure in West Virginia, and I sure wouldn't want to be buying Mylan stock right now!
This could be just the tip of the iceberg for WVU and the Manchin-Mylan connection. It sort of gives me a different perspective on Rich Rodriquez leaving for Michigan. Who knows what else has been going on there behind the scenes.
You can bet that the investment community will have this story by the beginning of next week (it was just published Friday 12/21/07). Probably not a good time to be part of the Democratic political establishment in WV. Own Mylan stocK? Good Luck!
With the power players we're talking about, WV newspapers would probably be afraid to jump on this story, unless a strong Republican-leaning paper jumps on it!
This could get very interesting, or it could just as well get buried!
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12-23-2007 05:13 AM
