Misuse of funds editorial correction

The premise of WednesdayâÄôs editorial in The Minnesota Daily was patently false. The editorial posited that the University of Minnesota should give back donations from prominent Twin Cities businessman Tom Petters, who authorities suspect is a central figure in a multi-billion dollar fraud scheme. In August, Petters pledged $250,000 to Carlson School of ManagementâÄôs Hanson Hall, and three conference rooms were to be named after PettersâÄô business interests. The University, however, never received or even booked the pledge, Martha Douglas, University of Minnesota Foundation spokesperson told the Daily in an Oct. 23 article. Petters has donated funds to the University in the past. According to the Daily report, Petters Group donated $25,000 to the UniversityâÄôs China Center in 2006. Douglas told the Daily that the University is not planning to return the gift because it was given years ago. But WednesdayâÄôs editorial operated off of the incorrect assumption that the University was not going to be naming Petters business interests in the conference rooms âÄî which it is not âÄî but was also not going to give back the funds, which donâÄôt exist. The editorial calls into question the integrity of The Minnesota Daily Editorial Board, and we would like to issue a formal and necessary apology for misinforming the University community on a very sensitive issue. The editorial will remain online with an editorâÄôs note informing its falsity for transparency purposes. Further, as a result of the mistake, the editorial board is now instituting a much more rigorous fact-checking system. It is our mission not only to generate an intelligent debate within the University community, but to generate one based on factual information. We failed in that mission on Wednesday, but we promise to strive never to repeat that preventable lapse.