CANADA: Alumni acquires un-naming rights to biz school

Facing the prospect of a corporate title on the doorway, graduates of the University of Alberta School of Business started a campaign that raised more than C$20 million (US$19.9 million) to keep the name just as it is, writes, Elise Stolte in the Edmonton Journal.

"People are loving it. It's almost like counter-culture," said Mike House, a member of the team that raised the funds. Rather than honouring a single alumni who made it big, the name represents the whole community, he said. "They're not about putting themselves first." Preserving the name is a way of thinking for the future, he said.

The $20.5 million will be invested to support the school. Some of the interest will fund the salary of a new research chair position. Other funds will support the general operating fund to make it less reliant on provincial government budgets, while some will support scholarships.
Full story on the Edmonton Journal website