2005 Annual Dinner & Wild Ride Stock Exchange
The 2005 Stephen
L. Jackstadt Award was presented to David McClain,
Interim President of the University of Hawai`i System, at
a very special award dinner held on Thursday, April 21,
2005 at the Royal Hawaiian Hotel. David was presented with
this award in honor of
his outstanding support of economic education and of the
Hawai`i Council on Economic Education.
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 Erstatz NewsBreaks brought
humor and dramatic stock price changes to the game.
About David McClain
David McClain was named Interim President of the University of Hawai‘i System by the Board of Regents effective August 15, 2004. McClain served as Vice President for Academic Affairs for the UH System beginning in July 2003. Prior to that position, he was Dean of the College of Business at UH Manoa and the First Hawaiian Bank Distinguished Professor of Leadership and Management. McClain first joined the Manoa campus in 1991 as the Henry A. Walker, Jr. Distinguished Professor of Business Enterprise and Professor of Financial Economics and Institutions.
McClain has served on the Hawai‘i Council on Economic Education Board of Directors since 1998, chairing the board from 1999 to 2002. He chairs the board of Hawai‘i Literacy and serves on a number of other nonprofit boards in Hawai‘i. He is a member of the National Business and Economic Issues
Council and a past member of the Business Accreditation Committee for AACSB International, the professional accrediting organization for business schools worldwide.
After receiving a BA in economics and mathematics from the University of Kansas, McClain joined the U.S. Army, completing his service as a first
lieutenant in Vietnam. He earned a PhD in economics from the Massachusetts Institute of Technology and taught at MIT’s Sloan School of Management and at Universidad Gabriela Mistral in Santiago, Chile. He has been a visiting scholar at Keio and Meiji Universities, and is on the board of advisors for Ritsumeikan Asia Pacific University in Japan. He was a tenured faculty member and
department chair at Boston University and founding director of the
Management Development Program – Japan. He also served as senior staff economist, Council of Economic Advisors to President Jimmy Carter and head of global economic information services for Data Resources, Inc.
McClain has headed the Asia Pacific Economic Cooperation Business
Management Network and is a former director of the National Association for Business Economics and of Babson-United, a privately held financial services firm. He is the author of Apocalypse on Wall Street, published by Dow-Jones/Irwin; numerous scholarly articles and several hundred columns on economic issues. He is married to Wendie McClain; they have three children and two granddaughters.
Special Thanks
View past Jackstadt
Award Recipients
2004 Annual Dinner Recap
2003 Annual Dinner Recap
