Grumpy Ol' Man
Senior Member
- Location
- Kansas, U.S.
http://www.nytimes.com/2015/10/23/n...to-paul-smiths-college-is-withdrawn.html?_r=0
I just love tagging along behind other folks excellent threads. The "Poor Woman" thread about the billionaire WalMart heirs brought back a story I heard this week as I was traveling down the highway.
A billionaire's wife donated $20 million to a small college. The only requirement was that the college change its name to hers. "Name the college after me and I'll give you millions... pocket change to me... if you do." The college President was ready to accept the gift and move forward. A significant number of alumni did not believe "buying" a college should be allowed. The case ended up in the court system.
The court ruled in favor of the alumni. The "Paul Smith College" was named after the person who donated the land some decades ago. That land donation was contingent upon the college being names after Mr. Smith. IOW, Paul Smith "bought" naming rights.
Should a college that was named after a benefactor change its name to accept a large donation from another benefactor? Many building on college campuses are named after those making contributions back to the school. Why can't one buy naming rights to the entire school? If allowed to "buy" the school name, when does a billionaire begin buying rights to vet professors to make sure a specific political agenda is taught/followed??
Just interesting what those with billions feel they can use money for. Oh! The benefactor asked that the money be returned and renounced her donation since the college would not bear her name.
I just love tagging along behind other folks excellent threads. The "Poor Woman" thread about the billionaire WalMart heirs brought back a story I heard this week as I was traveling down the highway.
A billionaire's wife donated $20 million to a small college. The only requirement was that the college change its name to hers. "Name the college after me and I'll give you millions... pocket change to me... if you do." The college President was ready to accept the gift and move forward. A significant number of alumni did not believe "buying" a college should be allowed. The case ended up in the court system.
The court ruled in favor of the alumni. The "Paul Smith College" was named after the person who donated the land some decades ago. That land donation was contingent upon the college being names after Mr. Smith. IOW, Paul Smith "bought" naming rights.
Should a college that was named after a benefactor change its name to accept a large donation from another benefactor? Many building on college campuses are named after those making contributions back to the school. Why can't one buy naming rights to the entire school? If allowed to "buy" the school name, when does a billionaire begin buying rights to vet professors to make sure a specific political agenda is taught/followed??
Just interesting what those with billions feel they can use money for. Oh! The benefactor asked that the money be returned and renounced her donation since the college would not bear her name.