This story about La Salle University's (Philadelphia) plans for a new business school really has it all: a manufactured sense of urgency, the decision to spend endowment funds and take on debt to finance construction of a luxury facility, the sense that the race for prestige trumps all other considerations.
Because of the steep competition, the university has chosen to pay for the building from endowment funds, a 2012 bond issue, and $15 million in alumni donations - 57 percent of which have been secured.
"We made the decision to do it that way rather than conduct a seven-year capital campaign," said Brother Michael J. McGinniss, La Salle president. "We wanted to get the business school up. It was more of a competitive and tactical decision."
It's almost like the Rosetta Stone...
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