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Release: Immediate

Horowitz named to professorship created through $1.5 million gift to UI

IOWA CITY, Iowa -- UI professor of economics Joel Horowitz has been named by Gary C. Fethke, dean of the UI College of Business Administration, to the first in a series of endowed research professorships created by a $1.5 million gift to the business school by UI graduate and benefactor Henry B. Tippie of Austin, Texas.

A native of Belle Plaine, Iowa, Tippie earned a B.S.C. degree with a major in accounting from the UI in 1949 and is chairman of the executive committee and vice chairman of the board of Rollins Truck Leasing Corporation. In 1996 he was one of 10 distinguished Americans to receive the Horatio Alger Award, given each year to individuals who have risen from humble beginnings to serve as role models through their examples of honesty, hard work, and service.

Through gifts made to the University of Iowa Foundation, Tippie has been among the UI business college's most generous contributors. His latest $1.5 million commitment brings his total gifts to the college to more than $3 million, including funding for the Henry B. Tippie Endowed Chair in Business Administration, established in 1989, and a substantial gift to the fund-raising campaign for the Pappajohn Business Administration Building (completed in 1994). The building's Henry B. Tippie Auditorium and undergraduate student lounge are named in his honor, and the business school's cafeteria, Pat's Diner, is named for Tippie's wife Patricia. Tippie is also co-founder of the Henry Fund, which was established in 1993 to provide financial assistance to UI M.B.A. students enrolled in a course blending rigorous academic programming with real-world portfolio management experience.

The endowed professorship fund eventually will provide salary supplements and expense allotments for six Henry B. Tippie Research Professorships, one in each of the college's academic departments. According to Fethke, these endowed positions will help the college attract and retain outstanding faculty scholars at a time of intense competition among the nation's top business schools.

"Henry Tippie's generosity provides the college with a margin of excellence that would be impossible to maintain without private support," Fethke said. "It is especially gratifying that, in establishing these professorships, Henry has underscored the value of research in the educational equation. Research efforts undertaken by UI faculty like Joel Horowitz pay tremendous benefits to our students and to the business community. We are extremely gratefully to Henry Tippie for once again demonstrating both his generosity and his vision in making this latest commitment to the college."

Horowitz, who holds a bachelor's degree from Stanford University and a doctorate from Cornell University, joined the UI business faculty in 1982. His research focuses on the development and application of statistical and econometric methods for economic problem-solving. He was one of five UI professors to receive a Faculty Scholar Award in 1995 and was awarded the Richard Stone Prize in Applied Econometrics in 1994 for an article he wrote on how housing prices are determined. He is the author of numerous scholarly publications and serves on the editorial boards of three national economic journals.

"My colleagues and I are very grateful to Henry Tippie for establishing these research professorships, and I am honored to have been chosen as the first recipient," said Horowitz. "At a time when government funding for research is shrinking, the value of this type of support can't be overstated. The Tippie Research Professorship will allow me to continue my investigation into economic issues that I believe will yield important new knowledge for the business community and society at large."

Tippie has held many operating and financial positions with the Rollins organization since joining the firm in early 1953. He also owns several businesses, including oil and gas operations and ranching operations, and serves on numerous corporate and professional boards, including the UI business school's Board of Visitors. In addition to his gifts to the business college, Tippie also is a strong supporter of UI athletics and student financial aid. He and his wife both are members of The Presidents Club, which recognizes the University's most generous contributors.

The UI Foundation is the preferred channel of support for private contributions to all areas of the University of Iowa. Foundation staff work with alumni and friends to provide scholarships, professorships, resources for equipment and technology, and other forms of support for the UI.