The state appeals court said Vanderbilt must leave the name intact or pay the group the current value of the $50,000 given when the building was constructed in 1935. It was not immediately clear what that amount would be in today's dollars.
Vanderbilt Chancellor Gordon Gee cited the need to create a welcoming environment and diversity efforts when he announced in 2002 the school's intention to drop the word.
$700,000 seems low to me. $50,000 invested in a CD, compounded over the last 72 years, would yield a figure in the millions of dollars.
Anyway, Gee's hatchet-man, Michael Schoenfeld, initiated this insanity. He should be fired immediately, and sent back to New York, his true home.
Schoenfeld's cultural purging has alienated most of the old alumni base, and cost Vanderbilt a huge amount of both financial and spiritual support.
A once proud Southern university, whose most famous graduates were the "Fugitive Agrarians"(Robert Penn Warren, Andrew Lytle, Donald Davidson, Allen Tate, John Crowe Ransom, et al), now finds itself smoldering in the ruins of political correctness.
The Vanderbilt Administration deserves this embarrassment. The vast majority of proud Vanderbilt alumni do not.