dagblog - Comments for "What College Trustees Are For"

Yes. Maria Bartiromo is an

Doctor Cleveland — Fri, 28 Jun 2013 16:28:28 +0000

Yes. Maria Bartiromo is an NYU Trustee. (And an alumna, to be fair.)

Did I say "business culture?"

Maria Bartoromo is a NYU

Ramona — Fri, 28 Jun 2013 15:53:00 +0000

In reply to What College Trustees Are For

Maria Bartoromo is a NYU trustee? That's crazy! But the beach house makes more sense now. She's all for giving the rich their riches at the expense of everyone else. What a shame.

I have good friends at Cooper

Doctor Cleveland — Fri, 28 Jun 2013 14:54:59 +0000

In reply to I'd be interested in hearing

I have good friends at Cooper Union, Donal, so I don't want to discuss the case too freely. In fact, I left Cooper Union out of my post for just that reason. But you're right: it's an obvious example.

Cooper Union poured a huge amount of money into big new buildings, at Manhattan prices, and did not raise the money to pay for them.(One of the tip-offs is that there aren't donors' names on those buildings. There isn't a donor's name, because there isn't a donor.)

Now the Trustees are saying that Cooper Union's most unique and famous feature, the free tuition its founder specified, is no longer affordable. It's not affordable because they blew the money.

About what to do going forward, I can't say. The Trustees really did blow the money, and it's gone. This is why good trustees are fiscally very cautious: when the bill comes due, it's usually years to late to pay it.

I'd be interested in hearing

Donal — Fri, 28 Jun 2013 14:19:42 +0000

In reply to What College Trustees Are For

I'd be interested in hearing your opinion on the Cooper Union situation. On the strength of one article I read, CU has been pouring endowment money into new buildings (and not hiring me!) instead of maintaining the tuition-free goals of the founder. After I read that, students occupied the admin offices and I've lost track of where they are now.