The E-Sylum:  Volume 9, Number 7, February 12, 2006, Article 21

BIBLIOPHILES HOLD AN UNCHARACTERISTICALLY RAUCOUS MEETING

Tom Fort writes: "You may remember several years ago the
Grolier Club of New York had an exhibit of early numismatic
books.  You could not order the exhibition catalogue; you
actually had to physically walk into the club and purchase
it with cash. The frustrations I had in dealing with them,
seem to also occur in their other business dealings."

Tom forwarded an article from the New York Times about the
Club's plan to sell the air rights over its building:

"So rich was the price negotiated for some 86,000 square feet
of air over the Grolier Club and Christ Church at Park Avenue
and East 60th Street " $430 a square foot " that the magazine
Business 2.0 listed the sale as one of "the 101 dumbest moments
in business" last year.

But several members of the Grolier, an elite society of
bibliophiles, now say the price for their portion, at least "
about $6.9 million " was too low."

"Some Grolier members say their club deserves a higher price
for its ether than the church is receiving because its 16,000
feet remain pivotal to the deal. So now they want the club to
pull out. It is a dispute that has split the normally docile
precincts of the club, even bringing tears amid heated
accusations of conflicts of interest at one uncharacteristically
raucous meeting."

"The opposition from some Grolier members is unsettling to
the church, which hopes to use the $30 million from its part
of the deal on various missions to help the poor, Mr. Mermel
said.

"Their case has no merit, but I've been surprised at the
lengths to which they've gone to snatch defeat from the jaws
of victory and put at risk the opportunity for this money to
help so many needy people through the church," he said."

To read the full article, see: Full Story

  Wayne Homren, Editor

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