OppenheimerFunds’ support funded two teams for the 2008 Youth About Business (YAB) “Summer Business Camp” in New York City. Joining nearly 150 other high school students (22 teams), the teams engaged in a business competition at Columbia University. They researched and analyzed public companies, learned complex financial terminology and ultimately created a feasible mock mergers and acquisitions transaction. The top winning teams from each region advanced to the National Summer Business Camp competition, also held at Columbia University where they competed to win shares of stock in a publicly traded company. A number of OppenheimerFunds executives served as marketing volunteers sharing their real-world expertise with the students.
Held annually in late July the Wall Street Conference for Teens is a week-long trip to New York City that allows top YAB students to network as well as visit and learn more about a number of YAB’s corporate partners. As a Key Sponsor, OppenheimerFunds had the opportunity to host a “Career Lunch” for students interested in learning more about our business. Jerry Webman, Chief Economist, hosted this hour-long luncheon where he presented an overview of OppenheimerFunds, his personal career path and answered questions from the student audience.
Responding to a need expressed by volunteers from the 2007 camp, a portion of OppenheimerFunds’ overall grant was also directed to supporting the upgrade of the Online Volunteer Training Manual. Access to the online guide enabled Youth About Business to increase the number and confidence of its executive volunteers. The 2008 Summer Business Camp saw a record number of instructors, nearly 325, up 30% from 2007.
Additionally, OppenheimerFunds co-sponsored, with O’Melveny & Myers LLP, the first YAB Executive Volunteer Networking Event held in Times Square, New York City. As both a thank you to volunteers along with a program highlights showcase, the event gave an opportunity for all volunteers to mix and mingle with their peers at other sponsoring companies.
For more information on Youth About Business, visit their website at: www.youthaboutbusiness.org.
Founded in 1992, Youth About Business (YAB) is currently operating programs in New York, Nashville, Chicago and Houston. YAB, a non-profit organization dedicated to entrepreneurial training, prepares students with the mechanics to run a successful business. It also provides business competitions teaching merger and acquisition transactions, giving students a theoretical and simulated experience of real-life events in the business world.
