April 12, 1994
TO: ICI EDUCATION FOUNDATION BOARD NO. 3-94
RE: SIFEE BOARD MEETING
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A few items from the recent Board meeting of the Securities Indus-
try Foundation for Economic Education (which I attended in Matt's
place) may be of interest to you.
1. Doug Parillo, senior vice president at NASD, announced that NASD
has earmarked $3 million to launch an affiliated foundation devoted
to economic education. (NASD President Joe Hardiman is a SIFEE
Board member.)
2. The number of teachers now using the Stock Market GameJ is up
18 percent since last yearCto 17,500.
3. SIFEE is finalizing a licensing agreement that all Stock Market
GameJ coordinators (most of whom are either universities or
newspapers) would be required to sign. The agreement would give
them exclusive rights to run the game in their geographic district,
in return for which they must play by SIFEE rules. Among other
rules, licensees would be required to offer the Game to all schools
in their area, to provide teacher training in economic education to
all teachers new to the Game, and to actively market the Game.
4. SIFEE Board members identified making the game electronic as
their "highest priority." The paperwork currently involved in
playing the game creates accuracy, processing, and timeliness
problems that have grown along with the growth of teacher/student
participation. SIFEE staff reported that the state of Alabama has
become so frustrated with the paperwork, SMG coordinators there
have already developed and initiated their own electronic version
of the game (which differs from SIFEE's) among Alabama teachers.
SIFEE is concerned other states will follow suit, further eroding
their ownership and control of the game. SIFEE contracted with an
outside consultant who has completed a study of what a nationwide
electronic game would entail. The estimated cost is about $2
million. The Board wants to approach a number of corporations
outside the securities industry about funding this project, includ-
ing Apple, Blockbuster Video, and others whose primary market is
young adults. Dan Carper, SIFEE chairman and managing partner at
Lord Abbett, has committed to making personal visits to potential
sponsors.
Please call me with any questions or comments.
cc: Ron Lynch, ICI
Dan Carper, SIFEE
This memo was dated and mailed April 11, 1994