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Department of Communications/
News Bureau
22 Davis Hall, 10 Lippitt Road, Kingston, RI 0288
Phone: 401-874-2116 Fax: 401-874-7872

Media Contact: Dave Lavallee 401-874-2116

URI College of Business Administration
announces 2003 inductees to its Hall of Fame

Ceremonies set for June 4 at Crowne Plaza in Warwick

KINGSTON, R.I. -- May 22, 2003 -- The University of Rhode Island’s College of Business Administration has announced this year’s inductees into its Hall of Fame.

Three individuals who have made substantial contributions to the mission and reputation of the College of Business Administration will be honored Wednesday, June 4 during the College’s fifth annual Hall of Fame Banquet and Induction Ceremony at the Crowne Plaza in Warwick. The program begins at 5:30 p.m.

Individuals or organizations wishing to participate as sponsors can reserve tables with seating for 10 at the $1,500 platinum and $1,000 gold sponsorship levels. Individual tickets are available for $50 per person. Call or email Kelly Glista at 401-874-4348 or for tickets or information.

The following individuals will be inducted:

o Former Gov. Lincoln C. Almond, of Lincoln, R.I.. The 1959 URI graduate who was awarded an honorary degree during this year’s commencement ceremonies, was elected governor of the State of Rhode Island in 1994, the first governor to serve a four-year term. He is also the first URI graduate to be elected to the State’s highest office. In 1998, voters re-elected Governor Almond to a second four-year term.

Throughout his years in office, Almond maintained a clear focus on economic development and expansion to help the state remain competitive and to fuel job growth. At the same time, he provided strong initiatives and leadership in efforts to raise the public and private funding needed to build the University’s new Thomas M. Ryan Center. As URI President Robert L. Carothers often says, Governor Almond is "URI’s No. 1 Alum."

Almond’s years of public service long preceded his election as Rhode Island’s 56th governor. He began his public career as town administrator of Lincoln, R.I. in 1963 and was re-elected in 1965 and 1967. In 1969 he was named U.S. Attorney, a position he served in for more than 20 years after being re-appointed by President Ronald Reagan in 1981.

o Steven E. Elterich, of Canton, Mass. The 1972 graduate, who also earned a master of business administration degree from URI in 1974, is president of Fidelity eBusiness, a division of Fidelity Investments, the largest mutual fund company in the United States, the number one provider of workplace retirement savings plans, and a leading online brokerage firm.

Elterich oversees all of Fidelity’s electronic commerce and Internet-related initiatives. He is responsible for setting the strategic direction and implementation of Fidelity’s Internet and Web-based services such as Fidelity.Com and NetBenefits; tracking competitive and emerging trends; and establishing strategic alliances. He is also a member of the Fidelity Management Committee.

Elterich joined Fidelity in 1987 and managed the installation of a record-keeping system that supported millions of customers. He then became responsible for building and implementing the technology that supports the benefits outsourcing business known as FESCo. This business includes 401(k), pension, health insurance, human resources, and payroll services for 10,000 companies and 11 million employees.

o Bruce S. Sherman, of Naples, Fla. The 1969 URI graduate is chief executive officer and chief investment officer of Private Capital Management, an investment advisor. He heads portfolio management and research capability and has led the firm to its number one ranking in the country as measured by Nelson’s World’s Best Money Managers. Sherman has engineered the acquisition of several companies including Local Financial Corporation, a $3 billion bank in Oklahoma.

He began his career as a CPA with Arthur Young. He left Arthur Young as a

principal in 1979 for a career in venture capital, real estate, and media assets. In 1986 he launched Private Capital Management with one client and $25 million under management. Headquartered in Naples, Fla., the firm now has $11 billion under management and some 3,000 clients. Sherman sold the firm to Legg Mason in 2001, but he retains autonomy over the firm’s management and investment research.

He has made guest appearances on national television and has been featured in such periodicals as Forbes. He was also featured in a chapter in Peter Tanous’ Investment Gurus.

For Further Information: Edward Mazze 401-874-4348

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