Saturday, February 21, 2009

Do You Believe in Curses?

This week, the local paper (The Arkansas Democrat-Gazette) ran several articles on the financial affairs of The Oxford American. If you do not know this publication, please check it out. It is a wonderful magazine devoted to "writing and art from or about the South."

I'd link you to the articles, but the Dem-Gazette only allows subscribers to view articles for free. Everybody else has to pay. Here's a shorter version I found on Business Week.

Many of you know the history. The magazine was founded in the early nineties by John Grisham in Oxford, MS. Since then it has had an uphill battle to stay in print, nearly folding several times. A few years ago, the magazine moved to Conway, AR, to be housed at the University of Central Arkansas. At the time, this was seen as a good bet to stabilize the magazine. However, last year, an employee allegedly embezzled over $100,000 from the magazine. While she was arrested, she has yet to stand trial.

In the meantime, apparently, the IRS had not been paid. Yesterday, the paper ran a story stating that the magazine owed a lump sum to the IRS that, if paid, might threaten another financial collapse. Today, the good news, a generous donor from Arkansas (a UCA alum) has pledged $100,000 to help the magazine out, specifically with the taxes owed the IRS.

Woo Hoo!!!! Yay for the anonymous donor!

All that being said, the history of the OA certainly lends itself to believing in curses, but what do I know, I'm a Cubs fan.

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