Is College Worth It? (the coming digital revolution in academia)

Forbes ^ | 3/26/2006 (issue) | Rich Karlgaard

[The Duke]

But that non-degreed one will find it harder to be accepted professionally...

Not if he's the one writing the checks!

[durasell]

Among serious real estate players in NYC he's seen as something of a joke.

[maica]

Before the baby boom generation, college was strictly for rich people. Women went to college not to pursue a career, but to attend the equivalent to a charm school that would prepare them to meet a rich husband. Men went to college to gain entre within certain professional circles where you had lots of alumni from a particular school.


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Not exactly true. Both of my parents graduated from college in 1937 - the depths of the depression. Their fathers were employed, but certainly not rich. All of their siblings also achieved college degrees, and had fruitful careers. Education was valued in both households, and sacrifices were made to get the children all the way through to the BA. My grandfather's sibs were grads of Cornell, before WWI. He (my grandfather) dropped out of high school when he was 16, because like Bill Gates, "they couldn't teach me anything, that I could not teach myself."

Perhaps, that is why he made sure that his daughters as well as his son completed their schooling.

[Dark Skies]

I won't...I am retired from the business part of my career. But my brother is a senior partner in a large real estate appraisal firm and works closely with developers and banks. He majored in RE at a good school and thinks (in retrospect) his professors were out of touch.

I suggest that education is evolving. The odd intermediate position of professor (with no practical knowledge) might soon be eliminated.

Why learn from a self-proclaimed expert when you can learn from someone who is in the fight and suceeding.

[ebersole]

"No way in hell would I go to college if I had it to do over and I was looking at $150,000 to $200,000 cost"

I never thought I'd agree with the non-college route since I have two MS degrees and my entire family is probably over-educated. However, my 16 year old son is set on joining the Army and could care less about college. I find myself excited that he has finally found a passion and some direction, so I'm all for him joining up when he is able. I just want him to be a good contributing member of society and a strong Republican :), and the military is the best place for him to start.

[durasell]

Why learn from a self-proclaimed expert when you can learn from someone who is in the fight and succeeding.



Why would someone who is out there fighting and succeeding want to teach?

[Dark Skies]

I know the NYC RE landscape and beg to differ.

The Donald has definitely graduated to a tacky level...but he isn't a joke.

Martha may think he is a joke...he may not be the most tasteful developer in the world...but to say he is a joke...is funny.

[durasell]

GM Building
The Plaza
Atlantic City Casinos

[durasell]

St. Moritz

[moehoward]

.

[Dark Skies]

Why would someone who is out there fighting and succeeding want to teach?

Real estate isn't a zero sum game wherein those who make it do so by taking it away from those that can't.

Good development is good for everyone.

Teaching is fun! And real estate development/architecture is an artform to many.

[Spirited]

"I think the Ivy Leagues are going to lose their reputation in 10-20 years."

Not as long as the "elites" (like the Bushes, Kennedys and Clintons et al.) are in charge of the chicken house.

[Dark Skies]

GM Building

The Plaza

He didn't develop either of those.

[durasell]

I've met a couple of real estate developers in their off hours. Even in their off hours they are scary people. I can't see any of them teaching for "fun."

[durasell]

He bought the Plaza for $400 mil and sold it for $325 mil.
He was unable to make loan payments on the GM Building and essentially (though not technically) got foreclosed. People on the street were actually cheering and mocking him -- including the work crews -- when they took his name off the thing.

[Dark Skies]

I didn't say that I approve of Trumps gambling approach to the business...but he knows what he is doing. His own "at risk" position is limited.

Would I do it his way...I doubt it. But is he playing the game effectively. So far, so good.

Trump has moved out of the real estate business and is in the deal making business. A very different business. He is now (IMHO) making plays with leveraged risk and limited backblow. Time will tell if he suceeds.

[wireman]

I think he means the old Gulf and Western building at Columbus Circle.

The Plaza is closed temporarily.

[hunter112]

Even then, a technical education can be worthless, too. I went back to school in 2002 to get an ATA in computer networking, only to find that it has no real value in job hunting. The only thing it did was convince my present employer that I was "trainable" at my age, and I don't use one iota of what I learned during that time.

The only people really stressing education are the people who are in the education industry. They know there are a lot of government dollars to be sucked down, babysitting people in classrooms that don't provide anything our society really needs.

[Dark Skies]

Well, there is the Saturday nite slack rule...any comment is appreciated on Saturday nite. Just don't get too persnickity...it is Saturday nite after all.

[durasell]

No, he still owns the old Gulf+Western as a hotel...I forget who put the money into it.

For a short time -- a couple of years -- he had his name on the GM building, then fell behind on the payments. The Plaza is closed for condo conversion and renovation into a mall. Christies is auctioning off a bunch of the stuff next week, I believe.