Mortarboards and bank boards.Mortarboards And Bank Boards
On Jan. 1, Dr. Joe B. Hatcher, president of Hendrix College Hendrix College is listed in Loren Pope's Colleges That Change Lives. College history
Hendrix College was founded as a primary school called Central Institute in 1876 at Altus, Arkansas, by Rev. Isham L. Burrow. at Conway - a man of letters man of letters
n. pl. men of letters
A man who is devoted to literary or scholarly pursuits.
Noun 1. man of letters - a man devoted to literary or scholarly activities - will become Dr. Joe B. Hatcher, vice chairman of First Commercial Bank at Little Rock - a man of numbers.
The 55-year-old, who has a doctorate in English literature English literature, literature written in English since c.1450 by the inhabitants of the British Isles; it was during the 15th cent. that the English language acquired much of its modern form. from the University of Kansas The University of Kansas (often referred to as KU or just Kansas) is an institution of higher learning in Lawrence, Kansas. The main campus resides atop Mount Oread. , still looks more like a professor than a banker, despite suspenders almost hidden by a navy pinstripe pin·stripe also pin stripe
1. A very thin stripe, especially on a fabric.
a. A fabric with very thin stripes, often used for suits.
b. A suit made of such fabric. Often used in the plural. suit.
"It was the right time to leave Hendrix, and it was the right time to come here," says Hatcher, who is sitting in a small but comfortable room at First Commercial's downtown Little Rock headquarters.
Hatcher has something in common with Bill Bowen, First Commercial Corp.'s high-profile former chairman.
Bowen, who led the $2.2-billion holding company to new heights, also made a late-life career change, leaving the legal profession at age 49 to join First Commercial.
Hatcher has more than that in common with Bowen.
Bowen is a member of the board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. at Hendrix. And Hatcher is a 10-year member of the Little Rock bank's board of directors.
With Bowen's departure from the competitive Arkansas banking scene, and rival Worthen National Bank of Arkansas' recent appointment of Jack Fleischauer as president, financial observers wonder what role Hatcher will play?
Was he hired to match Worthen's positioning of Fleischauer, who is known for his community relations 1. The relationship between military and civilian communities.
2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. expertise?
"Not at all," says Barnett Grace, First Commercial Corp.'s chairman. "We started looking two years ago for someone from the outside. We even looked out of state. Everyone knows we're a growing organization, and from time to time, you need to bring someone in.
"We didn't approach Joe then because we didn't think he would be interested."
But Hatcher's self-imposed "running time" at Hendrix was nearing its conclusion.
"When I was hired at Hendrix, the search committee asked me how long I thought I would stay," Hatcher says. "I told them I had worked for a president once who stayed too long. I always felt it would be about 12 to 15 years. One of the worst things about staying too long is you don't know Don't know (DK, DKed)
"Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. it."
Hatcher came to the respected, four-year liberal arts liberal arts, term originally used to designate the arts or studies suited to freemen. It was applied in the Middle Ages to seven branches of learning, the trivium of grammar, logic, and rhetoric, and the quadrivium of arithmetic, geometry, astronomy, and music. school in 1981.
Looking For Looking for
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. A Change
Grace and Hatcher have similar accounts of how the subject of the vice chairmanship came up.
Hatcher, with just enough gray in his hair to look distinguished and a slow, easy smile that could only belong to a Texan, says there was a conversation following a recent First Commercial board meeting.
"I said to Barnett that in three to five years I might be looking for a change and if the bank ever had anything ... And he said, |As a matter of fact, we've been talking about you.'
"The result was it happened more quickly than I would have ever thought."
Hatcher is chairman of the bank board's strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. committee and sits on the board of First Commercial College, a new training program for key personnel.
The position of vice chairman has been vacant since Ron Strother was promoted to president of the Little Rock bank in January.
What does a vice chairman do?
First Commercial officials say Hatcher will have responsibility for the bank's strategic planning, marketing, sales and customer-service functions.
"He will re-examine re·ex·am·ine also re-ex·am·ine
tr.v. re·ex·am·ined, re·ex·am·in·ing, re·ex·am·ines
1. To examine again or anew; review.
2. Law To question (a witness) again after cross-examination. everything we're doing with the fresh perspective of someone who is new to banking," Grace says. "It also will help him learn banking. It will serve as part of a training program. Later, he should be capable of running a line of business such as mortgage or trust."
It seems like a nice-paying training program.
Hatcher will only say the job pays about the same as the one at Hendrix. He claims money was not a factor in his decision.
Although Hendrix will not release faculty and staff salaries, American School and University says the average base salary for the president of a four-year school with a budget the size of that at Hendrix ($15 million) is $88,323 with perks averaging more than $30,000.
Hatcher and his wife, Irma Gail, do not live in a home provided by the school, though. Having recently built a home in Conway, Hatcher plans to commute each day to Little Rock.
Earning His Keep
Whatever Hatcher is paid at Hendrix, most say he earns it.
He came to Hendrix from Albion College Albion College is a small, private liberal arts college located in Albion, Michigan. Related to the United Methodist Church, it was founded in 1835 and was the first private college in Michigan to have a chapter of Phi Beta Kappa. It has a student population of about 1900. in Albion, Mich., where he was vice president for development. He quickly went to work filling the Hendrix coffers.
The school's endowment has climbed from $19 million to $57 million in the past decade.
The fiscal year that ended in July was the best for raising funds in the 107-year history of the institution. About $5.4 million was raised. The highest previous total was $3.5 million during the 1975-76 fiscal year.
Faculty salaries have grown, and positions have been added to lower the faculty-student ratio. Also under Hatcher, a sabbatical program was developed for faculty members.
Last year, Hendrix was placed in the highest category for liberal arts colleges It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome.
Liberal arts colleges by the Carnegie Foundation
The Carnegie Foundation ("Carnegie Stichting" in Dutch) is an organization based in The Hague, The Netherlands. . It consistenly ranks highly in other national listings.
Hatcher also is proud of capital improvements made during his administration. He says there is $45 billion of deferred maintenance on college campuses across the country but claims Hendrix has virtually none.
Dormitories, the chapel and the auditorium have been renovated. The school added a new administration building in 1983. Hatcher remembers it as one of his best moments at Hendrix.
Elbert Fausett, a Little Rock real estate developer, donated $1 million for an administration building after the old one burned in 1982.
"This is one of the most rewarding things I've ever done," Hatcher remembers Fausett, now deceased, saying at the dedication ceremony.
Hatcher says raising funds can be rewarding.
Hatcher has sold more than endowment funds Endowment funds
Investment funds established for the support of institutions such as colleges, private schools, museums, hospitals, and foundations. The investment income may be used for the operation of the institution and for capital expenditures. . The Fort Worth native once sold for IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Corp. and also sold X-ray equipment.
That sales experience will be put to use in the Little Rock banking wars.
George Mitchell George Mitchell may refer to:
intr.v. im·pend·ed, im·pend·ing, im·pends
1. To be about to occur: Her retirement is impending.
2. exit as "a great loss."
Many people were surprised by Hatcher's July announcement.
"Well, nobody cheered," Hatcher says. "I suppose they understand."
Ann Turney, director of college relations at Hendrix, says, "We're over the shock. Change always makes you a little uncertain, but we have confidence in the board of trustees [to find a quality replacement]
"He said to me, |Somebody good will come and exciting things will happen.'"
The day the announcement was made, Hatcher mailed a brief memo to faculty and staff members, most of whom were not on campus since Hendrix has no summer school.
"My years at Hendrix have been extemely rewarding and a great pleasure for me," Hatcher wrote. "I regret that it is time for them to come to an end."
No one can accuse him of being verbose Wordy; long winded. The term is often used as a switch to display the status of some operation. For example, a /v might mean "verbose mode." .
Students, as well as staff, say Hatcher will be missed.
Freshmen students will no doubt miss Irma Gail's brownies, which she baked each fall.
Other students say they'll miss seeing Hatcher in the school cafeteria, where he often ate with them.
"He has a distinguished style, but he wasn't uppity," says one recent graduate.
"He didn't act |buddy-buddy,' but he was approachable," says another.
Streets Of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
One person Hatcher worked closely with a Hendrix was John Churchill, vice of president of academic affairs.
The two men reportedly have different opinions on whether Hendrix should convert from a trimester trimester /tri·mes·ter/ (-mes´ter) a period of three months.
A period of three months.
The first third or 13 weeks of pregnancy. system to a semester system.
Churchill admits, "We've had different approaches to issues," and then adds, "We've never had a knock-down-drag-out."
Chruchill says the academic calendar is the purview The part of a statute or a law that delineates its purpose and scope.
Purview refers to the enacting part of a statute. It generally begins with the words be it enacted and continues as far as the repealing clause. of the faculty, which has been exploring the change.
Many Hendrix watchers believe Churchill will be Hatcher's successor.
"I'm thinking it over," he admits when asked about throwing his cap and gown into the ring.
The Hendrix board is setting up a search committee.
Despite their differences, Churchill obviously respects Hatcher and his style.
"His style is to lay out his position and ask for argument," Churchill says. "Honest disagreement is respected in his office. The style pre-supposes that others' ideas hold value."
Churchill remembers a trip with Hatcher to New York, where they were calling on foundation officers.
In going from one appointment to the next, Churchill says he realized why he was growing so tired.
"His pace on the streets of New York was amazing," Churchill says of Hatcher. "He was passing New Yorkers as if they were standing still. He goes about all his work with that same enthusiasm and intensity."
Hatcher's doctoral dissertation was on the Irish-born dramatist George Bernard Shaw Multiple people share the name Bernard Shaw:
"Shaw turns up in Joe Hatcher," Churchill says. "He's an ironist and has firm views on many subjects. But he blends these with a fair amount of humor."
One wonders just how much Barnett Grace knows about George Bernard Shaw.
Shaw, after all, was a founding member of the Fabian Society, a group named after the Roman general Fabius, who avoided direct engagements with his foe, the Carthaginian general Hannibal, but wore him down with marches, countermarches and skirmishes from a distance.
Part of Hatcher's new job, of course, will be wearing down Worthen.
PHOTO : HOLD ON HENDRIX: "I'm growing as fast as I can" says the sweatshirt worn by Joe Hatcher's granddaughter, Kelsey. The photograph was taken at a chili supper preceding a Hendrix College basketball game in January. Hatcher looks the part of an intellectual college president in his turtleneck sweater and blazer.
PHOTO : HARD-HATTED HATCHER: The Little Rock real estate developer Elbert Fausett gave Hendrix College $1 million for a new administration building in 1983. Hendrix President Joe Hatcher counts it among his proudest moments.