Sunday, December 20, 2015

How about "The College of Paul Smith and Two Rich Douchebags"?

"But one place that will not bear their name is on the campus of Paul Smith’s College, in upstate New York, close to where the couple owns a home. For a brief spell this last year, the school was on the verge of being named Joan Weill-Paul Smith’s College, courtesy of a promised $20 million donation from the Weills.

. . . .

Things there hit a snag. The college was created with money and land bequeathed by its founder, Phelps Smith, to honor his father, a local hotelier. When Phelps died in 1937, his will stipulated that the school be built on the site of the former Paul Smith’s Hotel. The will also required that the institution be “forever known” as Paul Smith’s College of Arts and Sciences.

The college, which has a student body of about 1,000, argued that it was so financially strapped (operating at a loss as recently as 2013) that it needed to be released from this restriction in order to safeguard its future.

While some people immediately objected to the name change, Cathy S. Dove, the college’s president, posted an open letter on the college website, praising the Weills and arguing for the name change.
“Joan and Sandy are presenting us with an opportunity to solidify the long-term financial health of our school,” Dr. Dove wrote. “Joan and Sandy are held in high esteem among the world’s most generous philanthropic and educational circles, and her name will bring us new opportunities to introduce our school to other supporters of higher education.”

But in October, a judge ruled that the college had not offered enough evidence to prove it could not survive financially without a name change and blocked the agreement to do so. A few weeks later, the college announced that the Weills would no longer donate the $20 million.

“It was a naming gift, so without the court allowing us to go forward, there was no money,” said Bob Bennett, Paul Smith’s spokesman. “That was the deal, right from the beginning.”

 . . . .

 “I think it’s unfortunate that the Weills are not going to give the money,” Mark Schneider, a lawyer who represented alumni who opposed the name change, told The New York Times after the offer was rescinded. “If they really wanted to give a gift to the school, it shouldn’t be contingent on something as self-glorifying as naming the school after Mrs. Weill. They could have named something else.”"

[remaining 29 grafs of emesis-inducing fawning over two rich people omitted]

The New York Times, Style Section, December 18, 2015

No comments:

Post a Comment