Columbia’s eminent domain grab of lower West Harlem’s Manhattanville has been denied by a 3-2 vote of the Court of Appeals. However, a similar vote on a comparable patch of Brooklyn was overruled by the NY State Supreme Court. I imagine the same will happen with Columbia.

However, as a graduate degree holder from Columbia, what bothers me is how Columbia will pay for its planned expansion? It has been rumored that it was promised massive loans ($100 million) from our state government (or NYC?). But with the economy where it is, I wonder whether Columbia has not bitten off more than it can chew. Its planned medical research faces global competition and its boast that it lost less endowment than competitors (below) is not all that reassuring. Will it be student tuitions that take the blast?

We shall see, but I am worried that these guys let the bubble carry them away. Now we are in a deep recession and monies are no longer flowing freely.

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BOSTON (Reuters) – Columbia University said on Friday that its endowment lost 16.1 percent in its last fiscal year, far less than its Ivy League rivals Harvard and Yale.

e/idUSTRE58B02520090912
— http://www.reuters.com/article/idUSTRE58B02520090912http://www.reuters.com/articl

“A war is just if there is no alternative, and the resort to arms is legitimate if they represent your last hope.” (Livy cited by Machiavelli)

Ed Kent [blind copies]

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