> Westminster’s odd couple may not be such a mismatch, given Xu’s background as a choral singer at Peking University. In the early 1980s, his high-school music teacher in Beijing took students to performances of operas “Carmen” and “Madama Butterfly,” and the ballet “Swan Lake,” he said.
At the very least the buyer does appreciate the art involved.
Reminds me a little bit of when Jim Beam, and all of its associated brands, was purchased by Suntory, from a long line of face- and soul-less international holding conglomerates.
Suntory is a family-owned company that has the distinction of being the first distiller of whiskey in Japan over a hundred years ago.
A few people whined and moaned, but I suspect that most bourbon drinkers are happy to see a major distillery back in the hands of people that care about whiskey.
The only ones who can attend art school anymore are kids coming from very wealthy backgrounds.
Carnegie Hall wasn't built by the Carnegie Steel Company was it? It seems totally reasonable to separate the aspirations/interests of the owner of a company with the company that he used to make the money.
"After spinning off the steel business and adding schools, it changed Jiangsu Zhongtai’s name to Beijing Kaiwen in January."
They got rid of their steel business, went into education, and change its name to reflect that.
First, that's quite racist.
Have they ever questioned what do the US analogous of "longtime makers of steel spans" and ex-robber barons that have been their patrons, and which have dedicated buildings and schools and auditoriums named after them, know about elite schools?
Vanderbilt, for one, was a poorly educated steamboat and railroad tycoon.
I think that sentence provides some insight into the deal. As China becomes wealthier, their aspirations will be elevated as well. There's a lucrative opportunity here where the prestige of an American institution can be used to attract family who have the means and aspirations for their children to be acquainted with cultures and arts other than the ones they are born into.
It's kind of funny to hear people complain about a former steel company taking an interest in music education given the prestige that Carnegie Hall holds in American culture.