Idaho
Idaho State Board of Education to consider extension in U of I-Phoenix negotiations • Idaho Capital Sun
This story was originally posted on IdahoEdNews.org on June 26, 2024.
The University of Idaho and the University of Phoenix want more time to talk about a deal.
And the State Board of Education will meet Friday morning to discuss an extension — which could immediately net the U of I $5 million.
If the State Board signs on, the parties would have until June 10, 2025, to reach a deal that would move the for-profit online giant under the U of I’s ownership. The State Board first endorsed the $685 million purchase in May 2023. The deal has been mired in political and legal limbo for months. However, the U of I and Phoenix have continued to negotiate past an initial, nonbinding May 31 deadline.
“The extension will allow the (U of I) time to incorporate feedback from legislators and other Idaho stakeholders into the transaction and make amendments based on the feedback,” State Board staff said in a memo released late Wednesday afternoon. “There is no commitment to a closing at this time.”
The extension has been in the works for some time. Idaho Education News reported first on many of the basics in a May 28 article.
The State Board memo spells out the details:
- Phoenix and its owner, Apollo Global Management, would have a chance to negotiate with other would-be sellers, or pursue an initial public offering.
- The U of I would immediately receive $5 million for agreeing to an extension.
- The U of I could also receive additional “breakup” fees if the purchase falls through. If the June 2025 deadline comes and goes without a sale, the U of I would receive another $5 million. If Apollo finds another buyer or pursues an IPO, the breakup fees would total $15 million.
The fees to the U of I are designed to offset the university’s consulting and legal bills. As EdNews has previously reported, the U of I has spent some $11 million on due diligence as it has reviewed a Phoenix purchase; the bulk of those fees went to U of I President C. Scott Green’s former employer, Hogan Lovells, an international law firm.
In their memo, State Board staffers say the U of I remains bullish on a Phoenix purchase. The U of I says its Phoenix business model “remains intact and is growing stronger.” The U of I has maintained it could net $10 million or more in annual revenues from Phoenix operations.
The U of I also maintains that it can navigate some turbulent political waters — even after the state Senate voted down a bill in March designed to salvage the purchase.
“The parties … are committed to continue working collaboratively with legislators, through the 2025 legislative session if needed, to arrive at transaction acceptable to all.”
The board is scheduled to meet at 8:30 a.m. Friday.
Check Idaho Education News on Friday for coverage of the meeting. And click here for in-depth, exclusive Phoenix coverage from Idaho EdNews.
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Idaho
Idaho lawmakers introduce bill to phase out state funding for Hispanic Affairs commission
BOISE, Idaho — Idaho lawmakers have introduced legislation that would phase out state funding for the Idaho Commission on Hispanic Affairs while keeping the commission in place.
The proposal, introduced by Rep. Jeff Ehlers, would gradually eliminate general fund support for the commission by July 1, 2028. The commission would continue to operate but would need to rely on private funding.
Rep. Ehlers told the House Revenue and Taxation Committee on Thursday that the proposal came from recommendations by Idaho’s DOGE Task Force, which reviewed government programs and spending.
READ MORE | Idaho DOGE Task Force recommends defunding Idaho Commission on Hispanic Affairs
The bill would also eliminate the commission from a list of organizations eligible for a state income tax charitable contribution credit.
Rep. Steve Berch questioned why the legislation would remove both state funding and the tax credit option, saying it could make it more difficult for the commission to raise money.
“I hate to use this word, but I’m really offended by this specific effort to make it that much more difficult for private citizens to be able to contribute to the Hispanic commission,” Rep. Berch said in committee. “I don’t think this can be justified from a financial point of view, and quite frankly, I don’t think it can be justified from a moral point of view.”
In response, Rep. Jason Monks said that it would be more “offensive” to not allow further discussion of the bill before a final decision is made.
The proposal comes after an earlier attempt this session to eliminate the commission entirely. In January, Rep. Heather Scott presented a draft bill that would have removed all references to the commission from Idaho law and dissolved it by July 1, but that measure failed to advance out of committee.
The committee ultimately voted on Thursday to introduce the legislation, allowing it to be printed and advanced for further debate.
This story has been, in part, converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Idaho
Local woman having ‘closet revival’ with new consignment store – East Idaho News
Shanea Fulks is the owner of Seven Sisters Closet Revival, a new consignment store at 260 South Woodruff in Idaho Falls. Take a look inside in the video above. | Rett Nelson, EastIdahoNews.com
Do you want to know what’s happening in the eastern Idaho business scene? We’ve got you covered. Here is a rundown of this week’s business news across the valley.
BIZ BUZZ
IDAHO FALLS
New consignment shop in Idaho Falls offers vintage clothes for customers and booth space for sellers
IDAHO FALLS – Curating vintage clothing is Shanea Fulks’s passion, and she’s sharing it with the community through a new business venture.
Seven Sisters Closet Revival opens Saturday at 260 South Woodruff inside Parkwood Plaza in Idaho Falls. It offers racks of vintage clothes for customers and booth space for others to sell their items.
“You get a rack with shelves, and you can come in throughout the week and sell things,” Fulks tells EastIdahoNews.com. “The things you’ll see in the middle of the store are pieces that I have curated. I hand-pick all the things I bring to the store.”
See some of the items in the video above.
Fulks says she’s had multiple people walk in already who are excited about the shop.
The store will have a grand opening this weekend. Fulks is partnering with the Greater Idaho Falls Chamber of Commerce for a ribbon-cutting and open house at noon on Friday. A local band will be performing during the event.
Then on Saturday, a grand opening celebration will begin at 2 p.m. Several vendors and live entertainment will be available. Fulks says she’s looking forward to interacting with the community.
Fulks has been selling items from her personal collection online for years. After helping a mother and daughter find a formal dress during an interaction at another shop in town several years ago, Fulks says she realized there was a need for a store like this.
After about a year of working with real estate agents, Fulks says the Parkwood Plaza space formerly occupied by a beauty salon called Blush became available, and it was an ideal fit.
“It’s just been a whirlwind and we’re just trying to get it going,” says Fulks.
Fulks’ interest in fashion stems back to childhood. She lost her dad and stepdad to suicide at a young age and grew up in a household that struggled to make ends meet. As a result, she says they bought clothes at Goodwill and other secondhand stores.
She remembers being made fun of because of the clothes she wore. In time, she learned to embrace her uniqueness and developed an interest in vintage clothes.
“I’ve just always been attracted to old sweaters, military jackets (her dad served in Vietnam),” Fulks says. “I like to help people feel confident wearing something unique, even if it’s not trendy. Be bold and wear whatever you want.”
The idea of making the most of your circumstances and embracing who you are is inspired by her experience with suicide, and it’s reflected in the art that’s on display in her store.
“Part of the theme in my store is ‘Stay. We need you,’” she says.
The business name refers to her family. She comes from a blended family of six girls and four boys. When she and her husband were married, they had a daughter — the seventh sister.
Fulks says she’s looking forward to offering great deals to customers. She has two sons with autism who love art, and she wants to host art-themed events for people with special needs. She’d also like to host tea parties and other events in the future.
“I want people to come and feel like they belong,” she says. “I’m going to allow people to do karaoke. When you’re here, I want you to feel like you can have fun.”
Seven Sisters Closet Revival will be open from 10 a.m. to 7 p.m. Monday through Saturday.
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New surgeon at Idaho Falls clinic does oral, jaw and facial work
Elsie’s Closet in downtown Idaho Falls is a ‘whole vibe’ and tells a story
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Idaho
Gov. Little signs bill ending license plate registration stickers in Idaho
Gov. Brad Little has signed House Bill 533, which would remove the need for license plate stickers on Idaho vehicles.
The legislation, introduced earlier this session by Rep. Jon Weber (R) of Boise, eliminates the requirement for registration stickers on Idaho license plates. Weber stated during the bills intorduction that officers can verify the status of license plates without the stickers, potentially saving the state around $300,000.
During the bill’s introduction, some lawmakers argued that it could increase the workload for law enforcement.
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The new law is set to take effect in July.
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