A public relations nightmare, or wet dream, depending on your perspective:
Over $5 million went to Cadwalader, Wickersham & Taft. The folks at Skadden, Arps got a couple million more. We paid $1.3 million to Bond, Schoeneck & King; another million to Baker, Tilly. Almost double that amount went to Edelman, a giant PR outfit, offering expertise on “corporate reputation management.” FleishmanHillard raked in almost $400,000. You’d think the Old Well had relocated to Madison Avenue.
High-dollar outside investigators were reportedly necessary because, after years of stonewalling and false assurance, no one would believe an analysis conducted by the administration.
This article will likely not endear Professor Nichol to the wig-wearing muckety mucks (they don't wear wigs here, that was an Oxford reference) administering UNC's flagship Universiity, but they should pay attention, nevertheless. You let your house get dirty, you clean it up yourself, so you can fully understand how the mess happened. And I have a feeling this particular mess was money-related in the first place: