Leadership & Governance

Ending Vacation-Home Perk, NYU Seeks to Mend Fences

Gordon M. Grant, The New York Times, Redux

John E. Sexton's vacation home on Fire Island, N.Y., was purchased with the help of a $1-million loan from New York U. The institution announced this week that it would end the controversial practice of extending loans for second homes, a benefit that the chairman of NYU's Board of Trustees said was rarely extended.
August 16, 2013 Premium content for subscribers. Subscribe Today

When the New York University faculty geared up for a vote of no confidence in President John E. Sexton this past December, the chairman of the university's Board of Trustees said he was blindsided.

Here was a university president who had helped...

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