1 week ago
Friday, November 7, 2008
The icing on the great big cake that was this week
I have been proud to work for the business school at the University of Chicago since I started there not long before September 11, 2001. As an administrator myself, I greatly enjoy watching our leadership—especially our deans—in action. Not only are they superb scholars and teachers, but they are also gifted in the art of human, fiscal, and physical resource management. Yesterday, the school made history because alumnus David Booth (MBA '71) and his young family gave the school an astounding $300 million unrestricted dollars. Not only is this extraordinary because of its scale—three times that of the next largest individual gift to any business school (Standford, $105 million)—and not only because Mr. Booth has already given $10.5 million to our institution, but because he gave it at what may well be the nadir of a global financial crisis. This means that as the monies are invested wisely—and they will be —they stand to grow many-fold as the world rises out of the depths of recession (or depression). Needless to say, this has put all of us, even those whose stake in the school—now, and rightly so, the Chicago Booth School of Business— is unlikely to benefit directly, in a buoyant, optimistic frame of mind. This, combined with Obama's unquestionable victory, makes the future uncommonly bright.