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Eccles endowment: new funding for U. of U. business school.

Eccles Endowment New Funding for U. of U. Business School

How many business majors would react positively if they were told never to work for money? It sounds like a formula for failure, but it was a point that prominent Utahn and industrialist David Eccles made to his son, Marriner. "Never work for money, my boy, because this is the wrong attitude. You should always work for the success of the business."

This ideas worked well for David Eccles. He came to the United States in 1863 as an impoverished Scottish emigrant; when he died in 1912, he left behind an empire of ownership or major interest in 48 companies.

With a generous $15 million endowment from Eccles' daughter, the late Emma Eccles Jones, the University of Utah officially named its business school the David Eccles School of Business, and announced a convocation series to give faculty, staff, and students a chance to hear from prominent national business leaders.

A Heritage of Hard Work

The Eccles family emigrated from Scotland to Utah. Their initial poverty gave David Eccles his life-long drive for hard work. During the family's first winter in Ogden, he worked daily in the foothills, cutting maple logs. His blind father made potato mashers, rolling pins, and other wooden utensils from these logs. Eccles sold these not only to his Ogden neighbors but to those in the surrounding communities.

Later, he opened his own logging and woodcutting business. In 1867, he moved to timber-rich Oregon, where he bought land and worked in timber camps. He later returned to Ogden where he became part owner in a saw mill. Six years later, he bought out his partners and expanded the operations to two more mills. In 1889, he helped organize the Oregon Lumber Co., and he served as president and general manager until his death. He built railroads in Oregon to move lumber to the mills and markets.

Combining Education and Business

Emma Eccles Jones, who died at the age of 93 on March 29, 1991, was Eccles' last living child. A pioneer in early childhood education, she recognized the importance of supporting institutions of learning.

Spencer Eccles, chairman of First Security Corp., said, "For years, Aunt Em has been very concerned that the story and accomplishments of David Eccles' life in helping to build Utah and the West were fading from memory in today's fast-paced blur of contemporary events. As a teacher, she understood the importance of clearly learning from the recorded experiences of leaders who have gone before. In the naming of the Eccles School of Business, she wanted to memorialize the achievements of her father in hopes that his life would be an example not only for students at the university, but for everyone interested in the opportunity of America."

In 1985, Utah State University bestowed a doctor of humanities degree on Emma Eccles Jones for her developmental work in early childhood education and for her efforts to train a new generation of teachers. She made a major contribution to USU for the Emma Eccles Jones Education Building, which was dedicated in January 1990.

New David Eccles School of Business

The University of Utah's business school was given special mention in Barron's magazine because of its exceptional faculty and facilities. With a faculty of 60, the school serves 900 undergraduate students, master's students, and 50 doctoral candidates.

* Programs for working executives. Working business managers will find several courses offered at times convenient for them: the Executive Master's of Business Administration, the Entrepreneur Executive Development Program, and the Executive Development Program. The school also operates the Program for Emerging Business, which oversees the statewide network of Small Business Development Centers. The Garn Institute of Finance is also part of the school. The institute was recently ranked seventh nationally among public supported finance departments in scholarly productivity.

The U.S. Department of Education recently designated the university's school of business as one of 15 U.S. centers for international business education. With this grant, the University of Utah, in collaboration with Brigham Young University, will become a national resource for teaching improved competitive business techniques for worldwide trade, foreign culture, and language.

* How the money will be used. According to John Seybolt, dean of the college of business, the $15-million Eccles endowment will be used for innovations in the undergraduate and graduate programs, including:

* Review and redesign of the curriculum

* Enhancements to global business program

* Development of a management communication program and laboratory

* Development of an executive bachelors of business administration program

* Creation of new scholarships, fellowships, and faculty support programs.

With an endowment from one of Utah's foremost family of business pioneers, the David Eccles School of Business will build on a rich heritage and position its graduates for the challenging future.

PHOTO : Eccles Business School dedication ceremony

Carl Boardman, Christie North, Rod Brady, Arthur Smith, Spencer Eccles, Shane Weston, Abram Young, John Seybolt (speaking)

Cara Bullinger is managing editor of UB.
COPYRIGHT 1991 Olympus Publishing Co.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Title Annotation:David Eccles endowment to the University of Utah
Author:Bullinger, Cara
Publication:Utah Business
Date:Dec 1, 1991
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