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2006 Annual Dinner & Wild Ride Stock Exchange

The 2006 Stephen L. Jackstadt Award was presented to The Honorable Governor Linda Lingle, at a very special award dinner held on Wednesday, May 10,, 2006 at the Royal Hawaiian Hotel. Governor Lingle was presented with this award in honor of her outstanding support of economic education and of the Hawai`i Council on Economic Education. Iolani School was awarded the 2006 Organizational Support Award.

About the Wild Ride Stock Exchange

Last fall, the Hawaii Council on Economic Education met with Carl Farrell, an instructor at HPU who teaches a class for future high tech project managers and software developers. Together they decided that the class would create a virtual exchange for the Council's annual dinner. The Council, in return, would provide the students in the class their first real-world project and real-world client. It turned out to be a very successful project and partnership. The end result? The Wild Ride Stock Exchange.

Each table sponsor at the dinner had their own “stock” traded on the Wild Ride Stock Exchange. Guests competed against each other as teams. Each team/table began the evening with a portfolio valued at $100,000. Trading began when Dr. Ralph C. Hook, Jr. rang the opening bell. Guests bought and sold stocks on the virtual market to increase (or decrease) their table’s portfolio value. The results of their investment decisions were displayed on the big screens for all to see. It wasn't easy -- Howard Dicus's periodic NewsBreaks brought humor and dramatic stock price changes to the game.

Lani Hatakenaka's Introduction of Governor Lingle

Good evening, my name is Lani Hatakenaka and I am a student at Kaiser High School. I am here tonight to tell you why the Hawaii Council on Economic Education is honoring Governor Linda Lingle with the Stephen L. Jackstadt Award. The Jackstadt Award is presented to individuals who have provided outstanding support of economic education. Since the year 2000 the Council has been giving teachers and students the opportunity to improve their financial literacy by participating in the Hawaii Stock Market Simulation. Hawaii SMS is an online tool that allows students to learn how the U.S. Market Economy works. Students are given a fictional $100,000 to invest in stocks, bonds, and mutual funds over a 10-week period.

I participated in Hawaii SMS with my class and my teacher, Ms. Kubota. We learned how to grow and preserve our assets as well as save and invest at an early age. We also learned the importance of asset allocation and diversification when building our portfolios. My classmates and I who made money in 10 weeks wished this was real money, which could be used to pay for our college education since many of us are seeking scholarships, financial aid and other funds to attend college. We truly believe that this learning experience will prepare us for our financial future.

Hawaii SMS has a three-pronged approach to investment education. The first is the simulation itself, the second is a set of teacher-training workshops that helps them understand the basics of investing, and the third is the "Learning, Earning, and Investing" curriculum. These three elements help ensure that both teachers and students get the most real-world experience possible.

In spring 2004, the Council entered a partnership with the State of Hawaii Department of Commerce and Consumer Affairs. The partnership allowed increased funding for the Hawaii SMS program, which resulted in increased school, teacher, and student participation. Let me give you some examples.

  • The first semester of the partnership, student participation increased by 87%

  • The following year, two new teacher workshops were added and teacher participation increased by 115%

  • In fall 2005, students from Kauai participated in the simulation for the first time, resulting in a truly statewide impact
  • This semester's simulation, which concluded last month, had a record number of 3,441 students participating
In conclusion, 11,774 students from grades 5 to 12 have learned about stocks, bonds, mutual funds, and diversification, since the Council's partnership with the state of Hawaii began.

The Jackstadt Award has been given out since 1986. Awardees are special people. Governor Lingle is in good company. Other recipients have included Senator Daniel Akaka, Merrill Lynch's Rob Saracco, and University of Hawaii President, David McClain.

Thank you Governor Lingle, you are helping students, like me, learn about saving for our future. Please join me at the podium to accept your award.

About Iolani School and its Committment to Economics

Iolani School understands that Hawai‘i’s children need to develop the skills necessary to make informed decisions for themselves and someday, their families. To ensure that they provide high-quality instruction, the school has encouraged its teachers to pursue professional development opportunities through workshops and courses offered by the Hawai‘i Council on Economic Education. Students are exposed to economics through simulations such as Mini-Society, extra-curricular activities such as the Island Insurance Companies Economics Challenge, and traditional lecture. Iolani teachers have volunteered their personal time to serve on the Board of the Hawai‘i Council on Economic Education. Two have been recognized as the best at what they do at both the state and national level.

Economics is the science of decision-making. By choosing to dedicate limited resources to the teaching of economics, Iolani School continues to make the smart choice.

Special Thanks

View past Jackstadt Award Recipients

2005 Annual Dinner Recap

2004 Annual Dinner Recap

2003 Annual Dinner Recap