Space & Rocket Center refinances existing debt – WAFF-TV: News, Weather and Sports for Huntsville, AL

Space & Rocket Center refinances existing debt – WAFF-TV: News, Weather and Sports for Huntsville, AL.

 

This is really awesome news.  I think I’ve shown my love of the Space & Rocket Center lately, and the fact that they have managed to reduce the debt so much is awesome.  And that they’ve finally managed to zero their line of credit, also awesome.

I mentioned a past CEO that really screwed them over.  Included in that was the building of a Saturn V replica while a real Saturn V rotted in the back of the property, and he swore he had a corporation set up to put every kid in Madison County through Space Camp.  Except, he didn’t.  He was fired and ordered to repay $200,000 that he never did.  Later, he was arrested for unrelated dealings in Texas.  But ever since he was fired, the finances of the center have been shaky.  Good to see it bouncing back into shape.

 

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3 thoughts on “Space & Rocket Center refinances existing debt – WAFF-TV: News, Weather and Sports for Huntsville, AL

  1. You know Mike, when it comes to criminal activity, abuse of authority, corruption, civil rights violations, or similar activity, I am BIG fan of naming names. I simply don’t think it serves the public good to protect the identity of individuals that prey on the public good.

    The man that “misappropriated” over 7 million dollars from the Alabama Space and Rocket Center, and then came into my state and committed investment fraud in excess of 9 million dollars is Michael J. Wing. Propagating multiple schemes, he stole from around 50 individual investors in Texas and other states. In 2006 Wing plead guilty and was sentenced to 10 years in Federal prison and fined 9 million in restitution. The prison sentence won’t make up for what he did to Alabama, but it’s a start.

    • Actually, at the time I wrote that, I couldn’t remember his last name and was going to come back and fill it in later with an update. In my mind, I had his tenure wrong too, I thought he was there later.

      Byt yes, Mike Wing is the CEO that nearly destroyed the Space & Rocket Center. And through some amazing work as of late, the Center is turning around.

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