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The Great Durham Talent Exodus

According to Dave Telep, Emmanuel Academy of Durham, the state of the art
basketball factory,
has shut down
.  Apparently some promised funding didn't come through.
Our question: who promised what?

On top of that, Amare Stoudemire, the remarkable Mt. Zion talent,
has left Mt. Zion
.  This is probably the greatest talent drain in the
history of the city, the one possible exception being when Brand, Avery, and
Maggette left Duke.