|Where did all of your retirement investments go? How can you
rebuild them? Will you be able to retire when you want to? The AAUP is pleased to offer a seminar on these questions with a distinguished
Did those who manage our mutual funds understand the practices
that would cause the loss of stock values? Should we accept their
advice now about how to recover our losses?
There are difficult questions about the role of educators in the recent
financial crises as well. Did academicians understand the practices
that led to the collapse of Enron, Arthur Andersen, and other companies? If not, is it
true that those who teach live in an ivory tower, unaware of reality?
If we did understand them, were there public presentations and
publications warning about them? Or were we complicit, preparing our
bright students to participate in elegant swindles and hoping to benefit
ourselves from inflated stock values? What are the ethical issues
involved in these questions?
Dr. Burke Ward
of the Department of Accountancy and the Graduate Tax Program at Villanova
will discuss the relationship between accounting firms' consulting and
audit practices. Included in that would be the related discussion of
senior executive compensation packages and the push for the appearance of
short term earnings. He will also briefly discuss investor responsibility.
Participants in a defined contribution plan, i.e., profit sharing, 401(k),
403(b), have the investment risk on them. What is the investor's
Fato – ABAS
Partner at PricewaterhouseCoopers LLP
– will discuss the "Causes of the Crisis."
He is currently the engagement partner for Eastman Chemical
Company, with sales of $5.4 billion. In addition, he recently
assumed partner responsibilities for Exide Technologies, the largest
producer of lead acid batteries in the world, with sales of
approximately $2.4 billion. Served until Spring 2002 as the U.S.
Engagement Partner for DuPont. He joined the engagement team in July
1996 and served as the lead senior manager until his admission to
the partnership in July 2000. Saverio has served a wide range of
clients during his professional career, including SEC registrants,
joint ventures, manufacturing companies and public utilities, with
primary focus in the chemical, pharmaceutical and biosciences
industries. In addition, Saverio is
one of the firm’s Technical Liaison Partner for the Industrial
Products industry. He is active in matters related to the
accounting and auditing profession, including close coordination
with our National Office on emerging issues. Saverio
holds a B.S. in Accountancy from Villanova University and is a CPA.
Whatever the reasons for the loss of so much of our investments, how
can we rebuild them? Three representatives
of Morgan Stanley will join us to discuss practical strategies for
rebuilding your investments and planning for retirement.
Richard Gerst began his career with Morgan Stanley as a retirement plan
consultant in Dean Witter’s IRA Marketing Department in 1990. In 1991 he
joined the Retirement Plan Services division of Dean Witter Trust Company
as a regional marketing representative in the 401(k)/Qualified Plan Unit.
After leaving Dean Witter Trust in 1994, Richard returned to Dean Witter’s
IRA Marketing Department as a Senior Consultant in 1995 having served as
the Retirement Plan Product Manager for Citicorp Investment Services.
Richard joined the Retirement, Education and Gifting Business Unit of the
Strategic Solutions Group in 2002. In addition to time spent with Morgan
Stanley and Citibank, Richard also worked in the Savings and Loan Industry
from 1982 to 1990. Richard holds
his degree from Syracuse University.
Douglas E. Ball
is a Senior Vice President at Morgan
Stanley. He has 23 years experience with Morgan Stanley and its
predecessor Dean Witter, including 14 years as Branch Office Manager. A
graduate of Colgate University, Doug has gained his specializations
working as a Wealth Advisor and a Retirement Planning Specialist. We are grateful to
a Villanova alumus who now works with Morgan Stanley, for arranging for his
two senior colleagues to make these presentations at Villanova.
The seminar will be in the Fedigan Room on the fourth
floor of the St. Augustine Center for the Liberal Arts on Monday,
September 30, at 3:30 p.m.