College in a pickle over Lay donation

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College in a pickle over Lay donation
2006-07-08
COLUMBIA, Mo. - Kenneth Lay's sudden death from a heart attack Wednesday in Colorado put officials at his alma mater in the position of having to deflect comment about the former Enron Corp. founder's unspent endowment, even as they wrestle with how, and whether, to honor their infamous donor. For seven years, the University of Missouri-Columbia has tried without success to fill the endowed Kenneth L. Lay Chair in Economics, created by his donation of more than $1 million in Enron stock the university sold before the company collapsed. Since Enron sought bankruptcy protection in 2001, the university has resisted calls by some faculty members, alumni and even the school's chancellor for the donation to be returned, steered toward a chair in business ethics, or given to jilted Enron investors if Lay were found guilty of criminal acts.
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