The Tripod

Issue date: 4/28/09 Section: News

On Thursday, April 23, Trinity College received unflattering press attention in the Wall Street Journal. The opening of the article states, "In one previously undisclosed fight, Trinity College in Connecticut is facing government scrutiny for its plan to spend part of a $9 million endowment from Wall Street investing legend Shelby Cullom Davis." The argument centers around the grievances from the endowment's professor, Gerald Gunderson, and the College's reaction to his voiced opinion. A part of the annual earned income from the endowment was intended to be used to fund student scholarships, yet Shelby Cullom Davis Professor of American Business and Economic Enterprise Professor Gerald Gunderson believes such allocation of the money would violate the wishes of the late Shelby Davis. The College, however, disagrees with the statements Gunderson made to the Wall Street Journal. "I do not believe that he is merited," said Vice President for College Advancement Ron Joyce. ""Our view was that we were doing this the right way, and then boom, we get hit with this punch from The Wall Street Journal." The Davis family has no legal standing in the matter, and the administration claims that despite no obligation to do so, they first went to the family before submitting a proposal to Connecticut Attorney General Richard Blumenthal. Though the college's proposal for new scholarships was originally turned down, their idea to use the earned income for scholarships was endorsed by the Davis family via a signed statement. "Had the family said, 'Absolutely not, we're not interested,' we would not have pursued that idea," said Mr. Joyce. Outside of the scholarships, the College believes that have satisfied all Shelby Davis' original wishes. Relative to the donor, Trinity has endowed a professorship, given him an administrative assistant, provided lecture funds and program support, and used some of the funds to renovate Professor Gunderson's office. "There has been no limit on Professor Gunderson in terms of program support and his chair," said Joyce. While the College claims that they have not violated any stipulations of the Davis endowment, Gunderson feels they are only performing the bare minimum. "The College has taken the very narrow position that because the donor agreement does not explicitly mention additional professorships, they should not be allowed," he said. However,. Joyce added that "the college has to think in a broader sense." sIn addition, Gunderson hopes that this article will raise awareness about the manner in which colleges handle substantial gifts. "Donors are becoming increasingly astute about structuring their contributions to colleges. The Thursday article in the Wall Street Journal about Trinity which reached one and half million readers has likely prompted hundreds of possible donors to be more cautious about their giving," he said.

In a time when the endowment has shrunk drastically, and both the College and students are trying to scrape together money, inevitably certain sacrifices will be made.

"College officials are almost always looking for ways to transfer funds from restricted uses to something else they see more pressing at the moment. It is harder to understand why, in this case, they would want to shift resources from a part of curriculum where there is tremendous student interest," said Gunderson.

However, much of the College's concern over the article focuses not on the use of the fund's money, but rather the portrayal of Trinity College President James F. Jones, Jr. exchange with Gunderson.

Gunderson asserts that in his meetings with Jones, he was called a "scoundrel, a liar, and a bully," in addition to having his job security threatened.

"President Jones is an equal opportunity intimidator. He has brow beaten other faculty at Trinity as well as at Colleges where he has been previously," said Gunderson. In the comments section on The Wall Street Journal article's webpage, an anonymous user writes, "As a faculty member who knew Jimmy J well, I can attest to the likelihood that [Gunderson's] efforts led to a tongue-lashing from the president, James F. Jones Jr., and a threat that he could lose his appointment. Jones has charmingly bullied his way upwards but there was bound to be a collision with principled people at some point."

However both Jones and College Secretary Scott Reynolds, who was present at the meeting, remain confident that at no point was Gunderson's job threatened. Acknowledging that some strong words may have been used, Jones' maintains that his goal of the meeting was to remind Gunderson that the college, and not the people that it benefits, is ultimately responsible for managing the endowment.

Of course this kind of widespread media attention can garner negative reactions from both students and alumni, and the administration is expecting some backlash. "I'm disappointed that Professor Gunderson has acted the way he has to try to embarrass the college," said Joyce. "We believe in academic freedom. He has the right to voice his opinion. Do I think going to The Wall Street Journal is the right way to do business in a college community? I do not."

increasingly astute about structuring their contributions to colleges. The Thursday article in The Wall Street Journal about Trinity which reached one and half million readers has likely prompted hundreds of possible donors to be more cautious about their giving," he said. In a time when the endowment has shrunk drastically, and both the College and students are trying to scrape together money, inevitably certain sacrifices will be made. "College officials are almost always looking for ways to transfer funds from restricted uses to something else they see more pressing at the moment. It is harder to understand why, in this case, they would want to shift resources from a part of curriculum where there is tremendous student interest," said Gunderson. However, much of the College's concern over the article focuses not on the use of the fund's money, but rather the portrayal of Trinity College President James F. Jones, Jr. exchange with Gunderson. Gunderson asserts that in his meetings with Jones, he was called a "scoundrel, a liar, and a bully," in addition to having his job security threatened. "President Jones is an equal opportunity intimidator. He has brow beaten other faculty at Trinity as well as at Colleges where he has been previously," said Gunderson. In the comments section on The Wall Street Journal article's webpage, an anonymous user writes, "As a faculty member who knew Jimmy J. well, I can attest to the likelihood that [Gunderson's] efforts led to a tongue-lashing from the president, James F. Jones, Jr., and a threat that he could lose his appointment. Jones has charmingly bullied his way upwards but there was bound to be a collision with principled people at some point." However, both Jones and College Secretary Scott Reynolds, who was present at the meeting, remain confident that at no point was Gunderson's job threatened. Acknowledging that some strong words may have been used, Jones' maintains that his goal of the meeting was to remind Gunderson that the College, and not the people that it benefits, is ultimately responsible for managing the endowment. This kind of widespread media attention can garner negative reactions from both students and alumni of the College, and the administration is currently expecting some backlash. "I'm disappointed that Professor Gunderson has acted the way he has to try to embarrass the college," said Joyce. "We believe in academic freedom. He has the right to voice his opinion. Do I think going to The Wall Street Journal is the right way to do business in a college community? I do not."

Page 1 of 1

Article Tools