What $20M Can't Buy

A New York State judge has rejected a request by Paul Smith's College to change its name to the Joan Weill-Paul Smith’s College in return for a $20 million gift from the philanthropists Joan and Sanford Weill.  The ruling was based both on the gift agreement that created the college and the judge's conclusion that the college has other ways to improve its financial health and never demonstrated that a name change was necessary.  It is unclear whether the college will appeal or whether the Weills will give any of their gift without the name change.