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It's Now 'Bill Greehey School of Business'

Posted on: Wednesday, 8 March 2006, 15:00 CST

By Vicki Vaughan, San Antonio Express-News

Mar. 8--St. Mary's University students, faculty and board members Tuesday celebrated the largest gift ever given to the university by dedicating the Bill Greehey School of Business.

The celebration occurred less than 90 days after Greehey, chairman of San Antonio-based Valero Energy Corp., wrote a personal check to the university for $25 million. It's believed to be the largest gift ever to a San Antonio college or university.

More than 600 people, including retired faculty members, local elected officials and many backpack-toting students filled the plaza in front of the university's Albert B. Alkek Business Building to honor Greehey, who received an accounting degree from St. Mary's business school in 1960.

Greehey's gift will be used to raise the profile of the school, recruit gifted students and attract top-notch faculty members.

"This is an historical occasion for the first endowed school in St. Mary's history, " said St. Mary's President Charles Cotrell. "It's a gift to San Antonio, and the $25 million stays here. This gift means almost immediate results for the school of business."

Greehey is known for his philanthropy, and even relinquished the chief executive position at Valero on Jan. 1 to spend more time on civic causes.

"I've got a lot of pride in the university," Greehey told the crowd. "I got a quality education at St. Mary's." He said the late Brother Kohnen, then dean of the business school, helped guide his studies and then his career.

After the ceremony, St. Mary's officials disclosed details of how the $25 million will be spent.

About $10.5 million will be used to recruit gifted students. The university's goal is for the academic profile of each successive class to improve, mostly by using undergraduate scholarships for new students. "You build a strong school by building a strong student body," Cotrell said.

St. Mary's wants to boost test scores in the business school within five years, increasing the average ACT score to at least 24 and the average SAT score to at least 1,160.

At the graduate level, St. Mary's will offer more assistantships and plans to raise scores on the Graduate Management Admission Test to an average of 525 within three years.

The school will utilize student leaders and faculty to help attract the best high school students, and its recruitment efforts won't stop at U.S. borders: It will also seek out highly qualified students from abroad.

In addition, the school will teach principles and ethics of Marianists, a Roman Catholic religious order, through the Bill Greehey Endowed Chair of Business Ethics and Corporate Social Responsibility.

Greehey, in a talk to students after the ceremony, said the "special culture" of Valero has included a strong emphasis on recruiting the best employees, then encouraging them to give back to the community through volunteer work and charitable donations.

Cotrell said the Bill Greehey School of Business will also be built on a strong faculty. The university has earmarked $11.5 million to recruit teachers and involve the local business community in the students' education.

In addition, St. Mary's plans to spend about $3 million on new technology, including wireless Internet connections in the business building. It also will upgrade one classroom a year to accommodate enhanced technology and upgrade all classrooms in five years.

As the ceremony ended, a group of student leaders tugged ropes on a banner reading, "Thank you, Bill," removing it to reveal the sign "Bill Greehey School of Business" on the Alkek building.

"That's a wow," Greehey said. "I'm proud to be a graduate of the business school and the university. It's such a good feeling to be able to invest in the university."

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Copyright (c) 2006, San Antonio Express-News

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Source: San Antonio Express-News

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