Report: Paterno Did Business With Charity Leaders

[Omaha Steve]

Source: AP-Excite

STATE COLLEGE, Pa. (AP) - Former Penn State head football coach Joe Paterno had business ties with board members of The Second Mile, the charity founded by alleged child molester and former Penn State assistant coach Jerry Sandusky, The Daily is reporting.

The Daily (http://bit.ly/vwE2vC ) reported Monday that Paterno and three fellow investors, including longtime Second Mile board chairman Robert Poole, secured financing to build a $125 million luxury retirement community around 2002, according to public records.

The publication also reported that Paterno was partnered with the same team of investors in developing a golf resort and nearby restaurant and inn. Paterno also joined with other current and former Second Mile board members on a bottled water company, a coaching website and a chain of convenience stores.

Pinnacle Development, one-half of the developer team that built The Village at Penn State, included Paterno, Poole, William Schreyer - a Penn State trustee whose daughter is a longtime board member of The Second Mile - and local developer Philip Sieg.


Read more: http://sports.excite.com/news/12052011/v3566.html

[ebbie15644]

1. so what

[Orrex]

2. Great, um. Point?

[Geoff R. Casavant]

3. So it puts his silence in a whole new light.

Before, there was the feeble excuse that he wanted to give his friend the benefit of the doubt, or keep scandal away from the school. Lame excuses, but noble.

Now, it looks like he kept silent because, if he had spoken up, his own pocketbook would have been hit.

[ohbill]

4. You should see the group's finances.

According to GuideStar, for every dollar they took in, only 2.4¢ actually went to children. They pocketed the other 97.6¢.

[ellisonz]

5. Paterno is one dirty dude.

Good riddance to bad rubbish.