Universities, Penthouses and C.E.O. Venality


As the corporate university starves its adjuncts, graduate assistants and resists unionisation, there is always room for penthouse restoration and other lavish emoluments for the C.E.O. (the president). I found it noteworthy in the New York Times, that New York University would not reveal the salary of its incoming robber baronesque C.E.O. (president) Andrew Hamilton.

His coronation will take place in January, as the presidential residence undergoes a multi-million dollar renovation. Mr Hamilton is receiving such largesse as private exits from his bedroom and bathroom onto a spacious terrace overlooking Washington Square.

This unseemly display of extravagance is even more reprehensible since N.Y.U., according to the Times, is not known for bestowing generous student-aid packages despite escalating tuition and student debt. It is reassuring to know, however, that the corporate university will spare no expense in utilising student-tuition monies to insure the comfort and tranquility of its C.E.O.s:

New York University is known for bestowing lavish perks on its leaders. Its new president, Andrew Hamilton, will be no exception.

Anticipating his January arrival from the University of Oxford, where he has been vice chancellor, N.Y.U. has been completely renovating a 4,200-square-foot penthouse duplex with four bedrooms, four and a half bathrooms and an expansive rooftop terrace. The apartment is in a landmark building at 37 Washington Square West in Greenwich Village, and it will be Mr. Hamilton’s residence, a university spokesman said.

Described by the university as “swanky” in its prior incarnation as a ceremonial presidential home, the apartment will be more opulent after the transformation, which includes moving a staircase and some existing walls and installing a new kitchen. The cost? At least $1.1 million, possibly double — raising questions as N.Y.U. and other universities are under pressure to control costs and high tuition.

Read the rest of this article at the New York Times.

4 thoughts on “Universities, Penthouses and C.E.O. Venality

  1. Pingback: Christmas Hangover Links | Gerry Canavan

  2. Pingback: Housing Provided to Public University Presidents in Ohio | The Academe Blog

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