Posted on 09/08/2022 8:28:58 PM PDT by know.your.why
The owners of an Ohio bakery celebrated on Thursday their $36.5 million victory over the liberal arts institution Oberlin College in a defamation case, declaring that 'David has overcome Goliath'.
The college had been ordered to pay after jurors ruled that it had defamed Gibson's Bakery by describing the institution as racist, after the store owner chased down three black students who stole from the business in November 2016.
Finally, in a statement on Thursday, the college announced it 'has initiated payment in full of the $36.59 million judgment in the Gibson's Bakery case and is awaiting payment information from the plaintiffs.
A lawyer for the bakery celebrated the huge settlement.
With legal fees and interest, the amount rose to over $36.5 million.
Oberlin College had tried to appeal the case to the Ohio Supreme Court, which announced on August 30 that it would not take up the issue.
(Excerpt) Read more at dailymail.co.uk ...
Indeed, they should have. But anyone in authority at the college would have suffered professional repercussions had they done so.
So the interests of the college were overridden by the personal interests of its management, because of the extreme state of corruption in the field of university administration. Compliance with the culture of the profession trumps responsibility to its institutions. This is a classic case of a Principal-Agent problem.
https://en.m.wikipedia.org/wiki/Principal–agent_problem
You get chapter and verse on this in business ethics class in a good MBA program.
Lawyers. Escrow.
Their endowment is 1.1 billion.
so they’re still trying to fight it?
“Gibson Bakery still needs to relocate, for their own safety and peace of mind.”
Ummm, they’re in the middle of rural-nothingness in Ohio and just got paid bank.
The Gibson Bakery-peeps are about to be chillin’ like some villains far from the Oberlin scoundrels!
Oberlin can afford this.
Oberlin has over 1 billion dollar endowment. This is chump change for them. Not only that, the judgement is being paid by an insurance underwriter...Zurich, something or other. This might make Oberlin a greater liability in the short run..but these useless universities, whom time is passing by, will continue to vomit out woke warriors for a while. They will infiltrate our institutions with their delusions for a long time. Some stronger, more determined outside force will eventually overrun the complacent , entitled , impertinent, mob suckled softies.
You are conflating liability insurance coverage for the loss caused by the underlying wrongful act, with the appeal bond, which secures the winning party against a loss caused by a delay in collecting on the judgment while it is being appealed. In my experience, a bond company will not post an appeal bond unless is 100% secured by assets put up by the losing party.
All appeals have not been exhausted -- Oberlin could dream up some Federal issue (1st Amendment?) to ask the United States Supreme Court for a writ of certiorari -- but the writing is on the wall. Oberlin, and the presumed liability carrier, would just be racking up additional interest, attorneys' fees, and appellate bond fees, if they kept this going.
“Chop chop”, that was one of my Dad’s favorite sayings when he told us to do something.
Origin was probably old movies where Chinese characters spoke in pigeon English.
They should get OUTTA that area. Change to delivery only to known loyal customers. Relocate close to another college or big business with decent administrators and students or workers..who knows, Oberlin could send over paid goons and burn the old place down. Creeps that they are.
..
I assure you that their legal fight was underwritten by more powerful interests.
Oberlin was Red Central for Marxism in the late 60’s in Ohio. Time that they played for it!
They never have to work again. The original founders are dead, I think. So it's the family running the business.
whats the problem?
they will just make it back thru tuition increases
the students will pay or rather borrow
then stick us with the bill
I checked out Gibson’s websites. You can buy t-shirts etc., but they are expensive and tbh I would be afraid to wear them.
Not so fast. Taxes will take at least half their award, plus legal fees, no doubt. Unless they can show some of the damages were for physical injury.
Still enough to call it a day and move on with their lives.
What I heard was Gibson Bakery initially only wanted an apology. The lunatics wouldn’t even do that. They still won’t.
They could have avoided all of this.
WTF does that mean?
It means: "Oberlin has initiated the multi-step process which, when finally completed, will have effected full payment."
Regards,
Heh...cupcakes for all....
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