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Baldwin gives $500,000 to USC J- School
There was a celebration on the occasion of Baldwin's gift Monday afternoon, March 30, in the auditorium of the Arnold School of Public Health at the corner of College and Assembly. The seating was filled with students, alumni, faculty and journalists. Dean Charles Bierbauer of USC's College of Mass Communications and Information Studies introduced Dr. Carol Pardun, director of the school, who thanked Baldwin for his generosity. USC President Harris Pastides also thanked Baldwin. Pastides recalled his father's advice as he encouraged a news- conscious son to learn all he could. After a nightly televised report by Walter Cronkite, the elder Pastides warned his son Harris, "You can't change anything in this world if you don't understand this world." And an understanding of finance has been added to the J- School curriculum, thanks to Baldwin's half- million gift. The money will stay on deposit as part of an investment strategy to grow the wealth and to expand the offerings in financial journalism. To elaborate on the value of Baldwin's gift, the College of Mass Communications and Information Studies assembled a panel of Columbia experts in the fields of journalism, business, and economics. Bob Bouyea, publisher of the Columbia Regional Business Report, stressed student curiosity as the beginning of a successful career in journalism. He cited Deep Throat's follow- the- money directions given to Watergate investigators from All the President's Men. If mysterious money breeds curiosity, the story naturally follows. Dr. Doug Woodward, economist and Moore School professor, explained he was not pushing the practical approach on his students because his field of economics lays the academic basis, the theoretical, while the practical education and workable applications come later in professional practice. He urged students to practice a lifelong habit of following the financial press: The Economist, Wall Street Journal, Financial Times - never ignoring the local business coverage because that's the most immediate. Henry Haitz III, publisher of The State, targeted self- sufficiency as an early goal for students. He was fascinated with the many directions journalism was taking, and he congratulated the students for being in the middle of them all. Fred Monk, former business editor of The State and current head of the Export Consortium, encouraged the students to sharpen their financial savvy by always asking, "What's relevant here?" Ben Rex, president and CEO of Cyberwoven LLC, a Columbia- based full- service interactive agency and software development firm he co- founded in 2001, told the students how aware he was with his return on investment in his USC education. He earned an undergraduate degree in economics (Honors College) and an MBA at the Moore School. He recommended the students follow a similar approach: Whatever subjects and overall direction are taken while enrolled, the students should always think in terms of what returns can be expected for what efforts. Bierbauer segued to the next discussion on the panel by asking the students if they were particularly interested in taking their journalism education into the fields of sport, fashion, entertainment, or politics. He then identified all those fields as businesses. They all ran on money, and to understand each field is to first understand the money. After dealing with the challenge of bridging between the practicalities of personal finance and worldly approaches in macroeconomics, the panel fielded questions from the audience. A reception followed in the building's courtyard, where Baldwin entertained further discussions with students and other appreciative well- wishers. |
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