NYG&B then reduced staff by 50%. Once the building was sold, the Board of Directors invested the money gained from the sale. There is but one problem: the economy and the stock market almost immediately went into a nose dive.
Writing in the New York Times, Alison Leigh Cowan reports that the society has now lost $6 million of its investment.
You can read more at http://cityroom.blogs.nytimes.com/2010/08/22/3-years-after-a-windfall-an-unexpected-reality-for-the-genealogical-society/
For background information, you can read the articles I wrote three years ago about NYG&B by starting at http://blog.eogn.com/.services/blog/6a00d8341c767353ef00e55065e13d8833/search?filter.q=implodes