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Happy Valley Crisis: Business Is Dismal, Penn State Facing Comprehensive Furloughs, Athletics’ AD Pay -20% & Pegula Staff Pay - Whacked By $50%

No I don’t believe you. Art festival doesn’t sell out. Seriously. Do you live here?
I do and know several owners. Arts Festival did not in 2019, THON never does, Happy Volley was ruined by current PSU Admin, and there are no multi sports weekends that come close. It’s football and graduation or bust.
 
I do and know several owners. Arts Festival did not in 2019, THON never does, Happy Volley was ruined by current PSU Admin, and there are no multi sports weekends that come close. It’s football and graduation or bust.
What happened with Happy Volley?
 
I do and know several owners. Arts Festival did not in 2019, THON never does, Happy Volley was ruined by current PSU Admin, and there are no multi sports weekends that come close. It’s football and graduation or bust.

At what price are the rooms not selling out?

Supply_and_demand_curves-5c5dd1bb46e0fb0001849d18.png
 
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No I don’t believe you. Art festival doesn’t sell out. Seriously. Do you live here?
Summer 2019 I got a room for a friend at the Hampton Inn on College on a friends and family rate of $49/night during Arts Fest.

Obviously leading up to the event that would not have been available but once Arts Fest started the excess inventory was available and cheap.
 
Some good news from Happy Valley. We have a new hotel on Pugh and Beaver at the Glennland building. Scholar Hotel opened yesterday. Beautiful property and in the Hilton family. There are 4 other hotel projects out there when things bounce back. HV will bounce back. Just hope the right investors come to town. Talked to a hotel real estate friend last week and he said a lot of hotels are on or will be on the market as bargain basement prices. Especially in the big cities. Unfortunately a lot of the money right now is coming from the wrong places....

4 more hotels coming? Do you happen to know the brand or where they are going to build?
 
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Do they 'sell out' to the point of $300+ per night hotel rooms on football weekends, no. Not sure there are any places anywhere outside of NYC that can charge $300+ per night every night. The point is that unlike 25+ years ago, there are tons of weekends that have a decent percent of hotel rooms that are booked. I can tell you the week that kids move in to class in August the rooms are booked as I had to pay over $200 per night to get a room. During normal times, the hotels in the State College area have pretty good occupancy rates with all the events happening through out the eyar.
 
4 more hotels coming? Do you happen to know the brand or where they are going to build?
Home 2 Suites by Hilton on the old Autoport site... Holiday Inn out off of the Benner Pike, and two yet to be determined properties as part of the mixed use projects being developed in Patton Township off of North Atherton. Throw in the boutique project on the Bellefonte waterfront. Only HI is out of the ground and that's delayed until next year now.
 
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Home 2 Suites by Hilton on the old Autoport site... Holiday Inn out off of the Benner Pike, and two yet to be determined properties as part of the mixed use projects being developed in Patton Township off of North Atherton. Throw in the boutique project on the Bellefonte waterfront. Only HI is out of the ground and that's delayed until next year now.

i mean yeah, if you look at the amount of hotels in and around State College has grown a ton over the past 20 years. So in that sense, if they were not making money then new ones would not keep moving in. Seems like a new hotel is built every couple of years.
 
One thing for sure is that Covid has shown how slow and boring area can be without being able to attend PSU sports live, having ArtsFest, events at BJC, etc.

You are describing everywhere today. The cities do not have activities either - they are just as boring. How is State College any different than anywhere else in that regard? At least S.C., and all the rural towns for that matter, have easy access to outdoor activities. Such activities may not be everyone's cup of tea, but at least they are accessible to those who may be bored.
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You are incorrect. We have done so e small traveling to others cities and have been able to do things not available in SC. True, no city has everything going on right now, but lots of places have more to do than SC right now.
 
Area still has its charm. Happy Valley is the entire area and not just dwntwn SC. The Borough is definitely not what it was in the seventies. Campus is still one of the best in the country. Yes there are more buildings but it’s still not that congested. I’m disappointed that the university has done little to help through this pandemic. No leadership. No vision. They missed out on a huge opportunity. The administration fails to understand that the allure of PSU includes Dwntwn. There are very few true “college towns” left in America. There seems to be little attempt to preserve that. PSU has the deep pockets to provide relief but haven’t. That only confirms what most of us have known. They don’t care. It’s all about them. It’s a corporate entity now driven by profit and the pillaging of locals and alumni.

It sounds like... (drum roll)... The Swamp. Golly gee, Sgt. Carter, I wonder why! o_O
 
Hey Happy Valley has MeTV, When I was in SC last week they had Green Acres (with that Gabor hottie), Andy of Mayberry & Gomer Pyle — We don’t have that in Dunmore ...
 
In glancing at the residential real estate listing on realtor.com, there appears to be quite of few pending real estate transactions in State College.

Is the residential housing market in State College as healthy as it appears?
 
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For me it came down to three things. First, there were the changes on campus....more and more buildings, less grass and trees. Growth for the sake of growth. Second, the attitude changed. Its hard to explain, but I no longer felt like part of a family and more like just another source of revenue. Maybe I was the one that changed. Finally, there was the treatment of Joe and the continuing arrogance of the BOT and Administration. All I know is that I had a love affair with Dear Old State for the better part of 40 years, sent my two daughters there, and now have no desire to ever set foot on campus again.

Not saying you are wrong about any of this, but building/infrastructure growth is not unique to PSU. I don't think the B1G has really driven it. The education bubble has all but required Higher Ed institutions to go on bldg/amenity spending sprees to attract students.

The bubble seems to be deflating. Many small, private colleges will go belly up. Those with huge endowments or taxpayer subsidies will survive but be hobbled. The time is overdue and is necessary.
 
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Not saying you are wrong about any of this, but building/infrastructure growth is not unique to PSU. I don't think the B1G has really driven it. The education bubble has all but required Higher Ed institutions to go on bldg/amenity spending sprees to attract students.

The bubble seems to be deflating. Many small, private colleges will go belly up. Those with huge endowments or taxpayer subsidies will survive but be hobbled. The time is overdue and is necessary.

the explosion of buildings and luxuries on campus is not a PSU thing, they are just following the trend. if anything, i would say when it comes to luxury type amenities PSU is just middle of the pack compared to most schools.
 
Not saying you are wrong about any of this, but building/infrastructure growth is not unique to PSU. I don't think the B1G has really driven it. The education bubble has all but required Higher Ed institutions to go on bldg/amenity spending sprees to attract students.

The bubble seems to be deflating. Many small, private colleges will go belly up. Those with huge endowments or taxpayer subsidies will survive but be hobbled. The time is overdue and is necessary.
I agree that building/infrastructure growth is not unique to Penn State. In fact, none of the changes are. My problem was that for decades I bought into the line that Penn State was different that other schools when, in reality, we are pretty much the same. That's fine. I get it. But every time I hear "WE ARE" I mentally finish the cheer with "JUST LIKE EVERYONE ELSE".
 
I agree that building/infrastructure growth is not unique to Penn State. In fact, none of the changes are. My problem was that for decades I bought into the line that Penn State was different that other schools when, in reality, we are pretty much the same. That's fine. I get it. But every time I hear "WE ARE" I mentally finish the cheer with "JUST LIKE EVERYONE ELSE".
Don't feel too bad about buying into that myth, a lot of people did. Good thing you realized it.
 
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In glancing at the residential real estate listing on realtor.com, there appears to be quite of few pending real estate transactions in State College.

Is the residential housing market in State College as healthy as it appears?
Real estate sales just about everywhere are booming. Low interest rates help. Plus people are buying vacation homes instead of traveling, especially flying into resort areas.
 
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I agree that building/infrastructure growth is not unique to Penn State. In fact, none of the changes are. My problem was that for decades I bought into the line that Penn State was different that other schools when, in reality, we are pretty much the same. That's fine. I get it. But every time I hear "WE ARE" I mentally finish the cheer with "JUST LIKE EVERYONE ELSE".

IMHO, Joe and the Grand Experiment is what made PSU different. The philosophy extended far beyond Beaver stadium through the majority of the university. In some way, I believe that Joe's football morals rubbed off on the majority of the student population in their daily lives as they moved into the real world. I don't think that was an illusion and I don't think cheap loans, building sprees, and exploding administration is related.
Unfortunately, as we saw in the later years of Joe's tenure, he didn't really understand how much things had changed. Joe's heydey was recruiting via Ma Bell and USPS. He didn't use email, much less understand the importance of the internet, smart phones, or upgrading football facilities. Scholarship limits created parity and the internet allowed every recruit to see what every school had to offer.
Bottom line: PSU had to adapt, but that doesn't mean PSU was the same as everyone else.

For me, the shine of PSU wore off in the midst of the Sandusky case when the University made the decision to walk away from that culture and accept Joe Paterno as a criminal enabler, and high-profile, dead scape goat.
Now, I'm a lot less invested in PSU football. I'm still a fan, but a lot more casually and certainly not prioritizing games over other activities. Also, I won't give a dime to the University again unless something changes. As a lifelong fan and alum, I used to feel invested and proud of PSU Football. Now, I'm just a fan, same as I am with the Philadelphia Eagles.
 
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IMHO, Joe and the Grand Experiment is what made PSU different. The philosophy extended far beyond Beaver stadium through the majority of the university. In some way, I believe that Joe's football morals rubbed off on the majority of the student population in their daily lives as they moved into the real world. I don't think that was an illusion and I don't think cheap loans, building sprees, and exploding administration is related.
Unfortunately, as we saw in the later years of Joe's tenure, he didn't really understand how much things had changed. Joe's heydey was recruiting via Ma Bell and USPS. He didn't use email, much less understand the importance of the internet, smart phones, or upgrading football facilities. Scholarship limits created parity and the internet allowed every recruit to see what every school had to offer.
Bottom line: PSU had to adapt, but that doesn't mean PSU was the same as everyone else.

For me, the shine of PSU wore off in the midst of the Sandusky case when the University made the decision to walk away from that culture and accept Joe Paterno as a criminal enabler, as a high profile and dead scape goat.
Now, I'm a lot less invested in PSU football. I'm still a fan, but a lot more casually and certainly not prioritizing games over other activities. Also, I won't give a dime to the University again unless something changes. As a lifelong fan and alum, I used to feel invested and proud of PSU Football. Now, I'm just a fan, same as I am with the Philadelphia Eagles.
I feel much the same way. I do accept the fact that folks have different opinions about Joe, though mine have not changed. What was unforgivable to me was the fact that they threw the alumni and fans under the bus ... and never have apologized for that. I always tell the folks at PSU that when they ask for money. Second, I'll always have a deep and abiding respect for how Penn State changed my life. I shouldn't have been able to go to college--my dad was out of work for 2.5 years during my college days. Penn State made it happen. I'll always be deeply grateful for that. Monetarily, however, I "paid" that back a while ago with my giving and service (chapter leader, etc.).
 
I fell for the exceptionalism thing too. Hell, we all did. Personally, the cheer makes me cringe along with the term "Happy Valley". Ugh...

The tribalism we see happening all around us is becoming more toxic, in my opinion. Penn State has world class sports facilities, I wish I could say that it is translating into higher academic standing/rankings but it's not. PSU is falling in the categories that really matter in life for young people and we still cling to the myth that we are better.

Our priorities are so far out of whack.

I agree it is becoming toxic. Especially when miserable old coots think everything was better back in their day.
 
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Visited your Happy Valley recently. Chatted with some of our Business Contacts. We love SC. Downtown Area. Business District Boss said that he’s extremely worried that 60 - 70% of Business’s will go under! Unless they get substantial $$$$.

Rapid Transit did renew their lease — Landlord was sympathetic— RT had lost > $650K for the year! Bars & Restaurants have been financially decimated...

Oh, I had a dream, it seemed I stood alone, And the Veil of all the years goes, Goes sinking from my eyes like a stone...

You know when Phil Esten was at PSU, He badgered Sandy endlessly about dumping some of the non-revenue sports. She did however, implement a $20% AD’s cut in 2020. Concessions Boss Ebeling was laid off in August, IT cut some Staff permanently. However, Lash Project is going full speed ahead.

Beyond the horizon of the place we lived when we were young, In a world of magnets & miracles, Our thoughts strayed constantly & without boundary, Running before time took our Dreams Away, To a life consumes by Slow Decay.

The Biggest Current Rumor At PSU is that All PSU Units & Departments Will Have Comprehensive Furloughs by the end of January.

PSU is also implanting a comprehensive CO-VID Testing Project. Student have been sent Testing Kits & all students will be tested 2 Times.

The grass was greener, The lights were brighter, With friends surrounded, The nights of wonder, Forever & Ever,
CIAO

Struggling down the slope,
There's not much hope.
I begin to try to ride the scree
But the rocks are tumbling all around me.
If I want John alive,
I've got to ditch my fear - take a dive
While I've still got my drive to survive.
Evil Knievel you got nothing on me.
 
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Big Money spin big deals
Sometimes building Ivory Towers
Sometimes building you a stairway
It’s the Kingdom they would Rule

It’s the fool on Television
Getting paid to play the Fool
Big Money take Control

Big Money got a Mean Streak
Big Money got no Soul...
 
Big Money spin big deals
Sometimes building Ivory Towers
Sometimes building you a stairway
It’s the Kingdom they would Rule

It’s the fool on Television
Getting paid to play the Fool
Big Money take Control

Big Money got a Mean Streak
Big Money got no Soul...
Ahh, "The Great Pretender" Cosplay Goodfellow waxes poetic for us!

You declared you would be three inches taller
You only became what we made you
Thought you were chasing a destiny calling
You only earned what we gave you
You fell and cried as our people were starving
Now you know that we blame you
You tried to walk on the trail we were carving
Now you know that we framed you
 
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I fell for the exceptionalism thing too. Hell, we all did. Personally, the cheer makes me cringe along with the term "Happy Valley". Ugh...

The tribalism we see happening all around us is becoming more toxic, in my opinion. Penn State has world class sports facilities, I wish I could say that it is translating into higher academic standing/rankings but it's not. PSU is falling in the categories that really matter in life for young people and we still cling to the myth that we are better.

Our priorities are so far out of whack.
Penn State academic standings are falling because of mismanagement at the top administrative level (President Onion Dip and co.). And it had been aided by BOT decision-making, poor oversight, and violation of conflict of interest.
 
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