Posted by: Geoff Gloeckler on October 23, 2008
We were talking this morning about business schools removing family names from their titles after large donors were unable to make promised payments to the school. This was the case a few years ago when Georgia Tech’s B-school removed the name DuPree from their title after restaurateur Thomas E. DuPree, Jr., was unable to pay part of the $20 million he pledged.
This got me thinking about a story I read yesterday in the New York Times about oil tycoon T. Boone Pickens and a $165 million pledge he made to the athletic department at Oklahoma State University. According to the article, the university is putting construction on a new athletic village on hold because Pickens’ financial situation has taken a turn for the worst due to the recent financial crisis. Other schools are encountering similar issues.
While Oklahoma State probably won’t take T. Boone’s name off anything, I wonder if any B-schools are encountering similar situations? Are we going to see more family names removed from schools considering the current financial downturn? Food for thought.