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June 9, 2008

Poly Want a Takeover?

polytechnic-06-2008.jpg
Yesterday a screed arrived in our inbox denouncing the deal between NYU and Downtown's Polytechnic Institute. Joel S. Hirschhorn, a Polytechnic grad and former professor at the University of Wisconsin, writes that the so-called merger between the schools will in fact be a takeover, and that NYU simply wants to get its hands on some valuable real estate. Hirschhorn, who submitted his op-ed to the Times (no response from the paper of record, though it's available here), uses findings from a state Committee on Higher Education report (PDF here) to make the case that Polytechnic's board has hushed up critics of the NYU deal and that no one knows how sweet a pot NYU is offering for the agreement. Hirschhorn concludes his piece, which urges the Board of Regents to put the kibosh on the plan, thus: "Like so many others, I fear that unless the Regents stop this deal Poly will lose its identity and academic independence. It is being sold out by incompetent managers that failed to continue the success Poly had enjoyed for over 100 years. NYU needs Poly more than Poly needs NYU, and NYU would end up making money, not paying handsomely for or investing in Poly." Our question is this: Even if Poly doesn't need NYU, does Downtown?
The Sellout of Polytechnic University [On NY Turf]
Violet Tide Coming to Downtown? [Brownstoner]
Photo by dibnerlibrary.




Posted by Gabby at 9:31 AM | Comments (17)
Categories: Downtown Brooklyn

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Comments

Poly Grad here. The merger will be a benefit to the students.

Posted by: guest at June 9, 2008 9:51 AM

I wish I could be a university and buy up real estate that I don't have to pay property tax on...and charge lots of money for dorm rent....yummy!

Posted by: tomgee at June 9, 2008 9:56 AM

I spoke to a long-time poly prof, and he said the conspiracy theorists have got it wrong.

With the recovery of CUNY, he said, higher-priced Poly is finding it increasingly difficult to attract high quality students. Even those who can afford it might go for the better deal at CUNY, and Poly has trouble offering enough aid to the less well off by itself. Poly is slipping as a result.

The NYU name will attract more students who can afford to pay, it is believed, and the money for more aid.

In addition, though it's been a long time, there is a strong link between older faculty and NYU, because many NYU profs went to Poly when it shut down its engineering school.

Posted by: guest at June 9, 2008 10:03 AM

it is tiresome that everything NYU does is characterized as evil because it is a "goliath" or "behemoth".

NYU is big. so what? it has resources, and high standards. any neighborhood should welcome its presence.

Posted by: guest at June 9, 2008 10:23 AM


This deal looks pretty good to me from both achool's perspectives. NYU gets an engineering school it needs and Poly gets some big school cache. NYU gets a viable reason to expand into Brooklyn and Poly get access to NYU and the international network of branch campuses.

No alum likes to see their school change but this deal can strengthen both schools.

Posted by: guest at June 9, 2008 10:35 AM

I agree that this is a positive. NYU has far-reaching name recognition that can only benefit Brooklyn. Also, it will supply an annual crop of renters for the surrounding areas!

Posted by: guest at June 9, 2008 11:26 AM

Hey Joel--have you seen the pitiable physical state of your alma mater lately? Someone's got to pay to move those renovations along. Or would you rather have the school sit encased in scaffolding until it crumbles in on itself and a few hapless latte sippers at Starbuck's?

Posted by: guest at June 9, 2008 11:45 AM

Do we really need all these engineers? I mean all these guys are going to end working in places like Dubai and Qatar. Let's stick to what we so best, real estate speculation. You can't export a 3-family brownstone to Dubai (can you?)


Posted by: guest at June 9, 2008 12:03 PM

This is very good for Poly. They may be able to attract students now, but they have a terrible time keeping them for both academic and financial reasons. Also, Poly itself has been struggling financially. Management and faculty are very strong, but the tight budgets make it hard to provide the resources to turn things around.

Posted by: trudylou at June 9, 2008 12:38 PM

wisconsin

Posted by: BrooklynLove at June 9, 2008 1:26 PM

Some article I read awhile back quoted NYU president as wanting a million square feet in Brooklyn IN ADDITION to what Poly brings to the relationship.

It will be interesting to see what they plan to move or grow here. I imagine that it would be something that relates to or has need of the engineering school.

I'm guessing that Forest City Ratner must already be talking to NYU about some of the empty space they have in MetroTech.

Posted by: guest at June 9, 2008 2:00 PM

And what's so terrible about Poly "los[ing] its identity and academic independence"? Isn't NYU a VASTLY richer and more prestigious university than Poly? Isn't it therefore to Poly's -- and Brooklyn's -- advantage to merge with NYU? It would be a shame if nostalgia for the ole alma mater stood in the way of a deal that is good for Poly, NYU and the borough of Brooklyn.

Posted by: Park Sloper at June 9, 2008 2:59 PM

10:03 is (at least partially) correct. Senior staff at Poly' told me that almost every student receives financial aid; many get a full ride. It's just not sustainable.

But I don't know how 10:23 can say, "NYU is big. so what? it has resources, and high standards. any neighborhood should welcome its presence." Seems to me that in the Village, NYU has been almost exclusively interested in its own needs to the detriment of the neighborhood.

Finally, 2:00, I believe the 1M square foot figure is unused development rights that Poly' has on its campus, not lease(s) for other people's space. And you know how some people respond to new big buildings downtown....

Posted by: guest at June 9, 2008 3:15 PM

At least this will give the Poly gear heads a chance to meet some NYU females or females at all for the matter.

Posted by: guest at June 9, 2008 9:53 PM

What are you talking about, 9:53? Many cute Asian girls at Polytech. What's better than a hottie who knows what you're talking about when you mention the Venturi effect?

Posted by: guest at June 10, 2008 10:07 AM

9:53 - So true. I went to Poly. Poly has several competitive engineering programs. NYU needs a good engineering program rather then sending their students to Stevens in Jersey. It's a win win - more so for the students.

Posted by: guest at June 10, 2008 3:50 PM

As a Poly grad, I am highly displeased with the dissenters on this merger. It is really not about Poly and it is not about NYU. It is about engineering in New York City and about global competitiveness. Poly can not do it alone any more. Times have changed. Get over it! If we do not merge and Poly ceases to exist in 12 years, the dissenters will have no comment. Really, how can these people be alumni of Brooklyn Poly and be so stupid?

MajorT

Posted by: guest at June 14, 2008 11:20 AM

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