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NYU Business School Gets its First Black Dean
Posted by ShopinJA in Business News on September 15th, 2009
By: Floyd O. Wilson | Tuesday, September 1, 2009
A new day another barrier is broken. The Stern School of Business at New York University, one of the premier business schools in the nation, has turned to an economics professor at Stanford University, who is also black, as its new dean.
Peter Blair Henry, a Jamaica-born Rhodes Scholar, moves to NYU in January 2010 from Stanford, where he’s currently holding the post of Konosuke Matsushita Professor of Economics. He’ll be NYU’s first black business school dean.
Henry takes over at the school with 5,700 students at a difficult time, with many people questioning the mission of business schools after last year’s financial crash, which many now believe was caused in part by greed among business leaders.
The longest and deepest recession since the Great Depression has also proved a disaster for most of the nation’s colleges and universities. Schools such as NYU that used to benefit from alumni generosity have seen their funding sources dry up. Many of them have watched as their investments and those of their funders disappear like smoke on Wall Street.
A recent Bloomberg report said, “Millions of dollars for financial aid is out of reach at New York University, trapped in endowment accounts that can’t be touched because of a once-obscure state law thrust into prominence by historic investment losses.”
