Re:Pearsons, Who Pledged $100M to UChicago, Want Their Money...
by tomkat0789 on Tuesday March 06, 2018 @07:42AM
(#16528431)
Yep. In grad school, the university took like 50% of the funds for our project, probably to plug budget gaps. I agree with the first comment:
"Relying on a university administration is generally not prudent. It is clear that the Family envisioned an effective "new business," in the spirit of a venture or a "start-up" and those kinds of projects take serious business execution. In my experience, the Pearson's complaint merely exposes the tip of the iceberg as far as what the donor "sausage machine" looks like in a major university. Lesson? Donors need to act more like active investors, despite the general hard resistance universities put up."
They were expecting university administrators to provide "serious business execution".
"Relying on a university administration is generally not prudent. It is clear that the Family envisioned an effective "new business," in the spirit of a venture or a "start-up" and those kinds of projects take serious business execution. In my experience, the Pearson's complaint merely exposes the tip of the iceberg as far as what the donor "sausage machine" looks like in a major university. Lesson? Donors need to act more like active investors, despite the general hard resistance universities put up."
They were expecting university administrators to provide "serious business execution".