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Business New Haven
5/3/1999
By: BNH
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We're No. 15 - We Try Harder
Applications to the Yale School of Management have hit an all-time high. To date nearly 1,900 applications have been received for the class beginning this fall, up from 1,777 last year. SOM officials attribute the gain in part to last September's degree change from the masters in public and private management to the standard masters of business administration. As well, SOM has spent $100 million to attract top-flight tenure-track professors and provide cutting-edge computer systems for the International Center for Finance, a research institute scheduled to open in September.SOM ranked 15th in the most recent U.S. News & World Report business-school rankings.
A Good Kind of Challenge
The National Society of Fund Raising Executives (NSFRE) has named BankBoston its 1999 Outstanding Corporation of the Year at its 36th International Conference on Philanthropy. In conjunction with this recognition, the bank last month announced the launch of a one-time grant program for New England non-profit groups represented by NSFRE members. Under the BankBoston/NAFRE Corporate Challenge, the bank will donate $2,500 to each qualified non-profit that is able to raise at least $5,000 of new corporate support between April 26 and May 24, up to $100,000. In 1998 the bank gave $14.5 million to good causes, principally in the areas of economic development, education, youth, culture and health and human-services organizations.
Let 'em Eat Icicles
Yankee Energy System Inc. (YES) of Meriden reported net second-quarter income up five percent to $11.5 million for the three months ended March 31, compared to $10.8 million for the same period a year before. The earnings hike is attributed in part to weather that was 15 percent colder than the same period in 1998. Operating income rose 14 percent over the same period a year ago, offset in part by an increase in income taxes due to a higher effective tax rate. YES President and CEO Charles E. Gooley put it best: “We are pleased with the increase in net income in spite of our continued disappointment with Mother Nature's inability to deliver a truly normal New England winter.”
Up Next: Marilyn Manson's 'Salute to Arthur Diedrick'
The Arts Council of Greater New Haven paid tribute to Gov. John G. Rowland April 28 at the New Haven Lawn Club. Rowland was cited for increasing funding both to the Connecticut Commission on the Arts and to individual arts institutions through the state's Department of Economic & Community Development (DECD). The CCA saw its budget more than doubled, while everyone's favorite rich uncle, DECD, has funneled more than $33 million in new funding to arts groups in the past 30 months. Connecticut now ranks a respectable 11th among U.S. states in per-capita spending on the arts. Said Arts Council President Cheever Tyler: “With the state's investment we have developed a world-class arts community that draws audiences from around the world. This is a wonderful opportunity to say thank you to the governor for his steadfast support of the arts.”
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