Columbia University’s business school has received a $100-million pledge from Henry R. Kravis, an alumnus who is a co-founder and co-chief executive of Kohlberg Kravis Roberts & Company, a global private-equity firm best known for its multibillion-dollar leveraged buyouts of major corporations. According to a news release issued by Columbia, the pledge will be used to help build new facilities for the school as part of the university’s controversial expansion into the Manhattanville neighborhood north of Columbia’s main campus. One of the school’s new buildings will be named for Mr. Kravis.
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- Copyright © 2013 The Chronicle of Higher Education
Manhattenville = West Harlem!
Just another New York City institution benefiting from the blood money sucked out of other parts of the country. See NYU & Carl Icahn, Cornell Medical & Sandy Weill, the Met & David Koch, etc. (At least Kravis spread it around a bit, giving $75mm to his undergrad institution, Claremont McKenna a few years ago.) The transfer of the wealth of the hinterlands to the island of Manhattan is disturbing. Cultural & educational institutions in flyover country struggle while those in a few select cities flourish. It is as if we are returning to a empire system, where a few population centers extract wealth from the dark interior, leaving the natives with beads and trinkets to distract themselves, and booze to dull their senses & quell any thought of rebellion.
Will anyone ever consider pledging 1 million to 100 schools. The press on that coming from 100 schools would be unbelievable compared to one nice press release. Many small schools receiving that 1 mil would provide naming rights. Spread the wealth and spread your name to touch the lives at 100 institutions.