It looks like Indiana University sold the naming rights to its two law school on the cheap to its vanity seekers. Billionaire J.B. Pritzker is acquiring the naming rights for Northwestern University School of Law, henceforth to be known as Northwestern Pritzker School of Law, in exchange for a gift of $100 million to the university. IU sold the naming rights to its two law schools in Indianapolis and Bloomington to Robert H. McKinney and Michael Maurer for $31.5 million and $35 million, respectively.
UPDATE: Another vanity-seeking billionaire, former CitiGroup CEO Sandford I. Weill, and his wife, Joan, withdrew their $20 million donation to Paul Smith's College in upstate New York after a judge ruled the college could not be renamed for them because of the founder's will, which required it to be forever known as Paul Smith's College. A new library and study area at the college had already been named after Weill based on prior donations. Weill's CitiGroup was the largest beneficiary of government bailout money following the 2008 financial crisis, receiving $476.2 billion. These greedy banksters are shameless.
3 comments:
How arrogant does one have to be that they feel the need to stick their flag atop respectable institutions? I think it's great schools are able to land so much free money. I just wish the wealthy sobs would settle for a nice plaque in a building atrium.
full disclosure: I have no personal first hand knowledge about the financing of such large gifts; however, I observe that such gifts are long on public fanfare and optimistic future projections on gift today. in other words, from what I understand, a gift sum is given today and extrapolated out over time to amount to an eye popping figure to maximize the 'gush' factor today. even so, some significant funds are committed and should be acknowledged. that being said, if I had command over such funds, I darn sure would not steer said funds to manufacturing yet more lawyers. just a personal decision. the ego is a powerful thing, so I'm told . . .
Anon 7:29 When it comes right down to it, this is nothing more than a dog urinating on a fire hydrant.
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