Felix Salmon reports on the continuing saga of Cooper Union (previously on MetaFilter). With NY Attorney General Eric Schneiderman's recent intervention, the school appears ready to stop digging its financial grave, but blocks away, faculty, staff, and students believe a similar story is playing out with New York University's NYU 2031 initiative. The plan, described as "a real estate deal" in a private conversation with an NYU trustee, is the brainchild of controversial NYU president John Sexton. [more inside]
For the first time in over a century, Cooper Union announces that it will begin to charge undergraduate students tuition.
Last year, The Cooper Union For The Advancement Of Science And Art publicly admitted it was in dire financial straits and raised the idea of charging tuition for the first time in 110 years. The students responded in an appropriate manner. But now as the specter of tuition becomes closer to reality the students took a more drastic option: Since Monday, eleven undergraduate students have expertly barricaded themselves inside the top floor of the New York college. They talk about what they want. They even get pizza. [more inside]
In 1783, John Jacob Astor set out for the United States with $25 and five flutes. Upon his death in 1848, he was the wealthiest person in the US, having amassed a fortune of at least $20,000,000, making him the third wealthiest person in American history (measuring wealth as a fraction of GDP). [more inside]