May 14, 2003
$4.5 Million Given to
UMD School of Business and Economics
Gift from Duluthians
Sharon and Joel Labovitz
Contact:
Susan Beasy Latto, UMD Director of Public
Relations 218 726-8830
Kjell Knudsen, Dean of UMD School of Business
and Economics 218 726-7281
At a news conference today Chancellor Kathryn
A. Martin announced a gift of $4.5 million
to the UMD School of Business and Economics
(SBE) from Duluth natives Sharon and Joel
Labovitz. The gift is the largest ever
for the School of Business and Economics
and the second largest for UMD.
The 4.5 million gift is dedicated to the
construction of a new building for the
UMD School of Business and Economics.
The School and the Building will be named
the Labovitz School of Business and Economics
. UMD plans to go to the Minnesota legislature
next year with a proposal for the structure.
Pre-design sketches call for it to be
constructed on the northwest corner of
the UMD campus across from the new library,
and to include state-of-the-art facilities
for providing business education in a
knowledge-based, global economy. Plans
call for the building to contain the latest
in advanced technology with modern computer
labs, facilities for distance learning,
conferences and workshops, and multi purpose
classrooms.
Chancellor Martin said, "We are enormously
grateful to these two outstanding Duluthians
for their tremendous support and commitment
to UMD and to this entire region. The
wonderful generosity of Sharon and Joel
Labovitz will provide benefits to students
and area residents for decades to come."
A 1949 UMD graduate, Joel Labovitz is Chairman
of Labovitz Enterprises, a Duluth headquartered
firm with interests in various businesses.
He is the principal owner of four hotels:
The Duluth Holiday Inn Hotel and Suites
Downtown Waterfront, the Marriott Courtyard
Hotel and the Hilton in Waco, Texas, and
the Holiday Inn Bozeman in Bozeman, Montana.
Mr. Labovitz is also chairman of Lion
Financial Corporation and Lion Hotel Group,
both headquartered in Duluth. He is an
advisor to Zenith Management Company of
Duluth.
Soon after UMD graduation, Labovitz joined
his father Maurice at Maurices, a women's
clothing store in Downtown Duluth. The
two men expanded the local business through
the 1960's and 1970's. When Joel Labovitz
sold the company in 1978, Maurices had
175 stores in 18 states. He stayed on
as President and Chief Executive for two
years, adding another 100 stores before
stepping down in January 1981. Today,
over 430 Maurices stores are operating
across the county, with the giant retailer's
corporate headquarters still located on
Superior Street in Downtown Duluth.
A Graduate Registered Nurse, Sharon Labovitz
has been an active leader and philanthropist
in numerous civic, educational and cultural
organizations for many years. She is President
of the Sharon and Joel Labovitz Charitable
Foundation and has recently completed
twelve years as a member of the Board
of Directors of the College of St. Scholastica.
She is currently the President of the
Board of Athenaeum, a Fine Arts and Music
Library in La Jolla, California.
Joel Labovitz has been closely involved
with the UMD School of Business and Economics
for many years. He was named a "Senior
Fellow" at the School and taught
its very first courses in entrepreneurship.
He was presented the "Business Leader
of the Year" award in 1985 at the
annual Student Business Banquet. In 1988
he received the UMD Distinguished Alumni
Award and he delivered the UMD Commencement
address sharing the personal and business
philosophy he's followed during his successful
career. He has continued to lecture and
teach at UMD to both students and faculty
on the topics of entrepreneurship, leadership
and business ethics. In 2002, UMD celebrated
the 10th anniversary of the Joel Labovitz
Entrepreneurial Awards which provide recognition
and encouragement to creators of small
and large businesses in the area.
"The importance of this outstanding
gift cannot be overestimated," said
SBE Dean Kjell Knudsen. "Through
the generosity of Sharon and Joel Labovitz,
the UMD School of Business and Economics
has a golden opportunity to further grow
in stature and reputation and significantly
contribute to the strength of our area
and the entire state."
Back to News About Giving to the U
|
