Students sell Concordia interim president's condo

A group of Concordia students sold president Frederick Lowy’s condo on Tuesday morning.

The fake auction was held as a symbolic gesture to denounce mismanagement of public funds in universities.

In 2011, Concordia had promised Lowy a $1.4 million interest-free loan to keep his condo in Montreal and assure his return as interim president. He was called back to replace former president Judith Woodsworth, who was ousted with a $700,000 severance package.

The 60 students who showed up for the sale first marched to Lowy’s condo where they started hanging signs saying the condo was for sale. The auction then took place in front of the building where students were invited to increase their bids by lifting signs reading everything a university could buy for $1.4 million.

The organizers finally announced that the highest bid went to all Concordia students for being the ones paying for Lowy’s zero interest rate loan.