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MU to keep Lay endowment for now


Columbia, MO. – University of Missouri Chancellor Brady Deaton says he understands concerns from some faculty about using Ken Lay's money for an endowed chair but says the university is bound by legal considerations.

About 100 faculty members feel that the school should not have a namesake chair or a portrait of Lay hanging in a campus building. Chancellor Deaton says he understands those concerns.

"We're very concerned that what we do reflects the values of the university," Deaton said. "And what we have said to our faculty in the past we understand the concern and we want to be working consistent with the values of our university in everything we do."

Deaton says he had recommended that the university return Lay's gift if he were convicted of a felony.

But now he says because of legal concerns, the university needs to further discuss whether the money will be kept and how it will be used.

He says the decision ultimately lies with University President Elson Floyd and the Board of Curators.