PSU NAMES FINANCE LAB IN HONOR OF JERRY PARSONS

After Greg Battis finished two years at a community college in Southern Oregon, he sought a university where he could continue his education. He noticed Portland State University has a “Finance Lab” at the Karl Miller Center, equipped with 12 Bloomberg terminals.

“The lab is the primary reason I chose PSU. I would not have attended here without it,” said Battis, a senior majoring in finance who will graduate this fall. “I use it daily. I’ve been a big advocate for the terminals and getting other students to use them.”

Battis called the lab his “second home,” adding he spends three or more hours there at a time.

The lab was created in 2019, thanks to generous gifts from donors. It is used by undergraduate and graduate students, and faculty.

MOST SIGNIFICANT INVESTMENT EVER

Jerry Parsons graduated from PSU in 1962 with a degree in business and emphasis in accounting. He later had a lengthy and successful career at Willamette Industries where he rose to become its chief financial officer. He retired in 2000.

Grateful to his alma mater, he has donated to PSU every year since 1982.

“We ran the lab idea by him,” said Cliff Allen, dean of The School of Business at PSU. “We said we could provide a much more influential and beneficial experience for our students through the finance lab but we needed support to get it done. He was excited to participate,” Allen recalled.

Parsons and his wife, Sandy, committed $300,000 over five years to keep the lab running.

“This is the most significant investment we’ve ever had in our Finance area at The School of Business,” said Lauren Clark, senior director of Development for the School of Business.

“With this generous gift, we’re able to continue offering this wonderful resource to our students,” added Julie Hackett, academic director for the Master of Science in Finance and Master of Taxation programs. “This contribution enables us to continue covering the expenses of the lab and provide our students free, unrestricted access to a trusted source of information.”

To demonstrate its appreciation, The School of Business named the facility the “Jerry Parsons Finance Lab.” The Parsons attended a ceremony May 20 to celebrate the new title.

“This is a wonderful way of celebrating his legacy,” said Clark.

“The thing that struck me is how much information is on the terminals,” said Parsons. “Information is power, if it’s used in the right way.”

“I remember when the first personal computers came along. I’m not a real techie guy but I’m enthralled by it. The idea of supporting the finance lab was appealing,” he said.

INSTANT ACCESS TO INFORMATION

Most investment offices are equipped with Bloomberg terminals. It enables users to obtain instant news and background information about companies, conduct financial and economic analysis and download financial statements.

Battis studies financial theory in the classroom but sometimes it’s not easy to understand without context, he said.

“The terminal gives me instant, real-world application,” Battis said. “There really is no other option. The amount of data you can get is enormous. It has allowed me to go deeper than what we do in class. I’m very happy I chose PSU,” said Battis.

The Jerry Parsons Finance Lab also offers Barron’s in Education, a financial education program from Dow Jones that provides in-depth analysis and market commentary.

FACULTY ALSO APPRECIATE THE LAB

Dr. Julia Freybote, Associate Professor of Finance and Real Estate, uses the Bloomberg Terminals often in her real estate finance courses that are part of the Master of Real Estate Development and Graduate Certificate in Real Estate Investment and Finance program.

The terminals have a surprisingly large amount of information about the commercial real estate market, metrics and market fundamentals, she said.

The terminals also provide students much information on mortgage-backed securities, details about mortgages in default and research on real estate investment trusts (REITs), Freybote added.

“It’s usually difficult to obtain commercial real estate or REIT information that’s very detailed. The terminals really fill that gap,” said Freybote.

Students of Dr. Piman Limpaphayom, associate professor of Finance, use the lab to manage an actual investment portfolio of close to $1 million for the Chartered Financial Analysts Society of Portland.

The fund distributes about $16,000 in scholarships annually from its profits to students at a variety of universities in Oregon and S.W. Washington. Occasionally the students will liquidate some investments to support a special hardship fund for PSU students who need help.

“The students in my class use the lab all the time. They do the research to make recommendations to buy and sell. Without the Bloomberg terminals, they wouldn’t be able to do that,” said Limpaphayom.

DEVELOPING SKILLS FOR AFTER GRADUATION

The lab gives PSU grads a leg up over others. When they start searching for work in the investment industry, they already know how to use the terminals.

 “They obtain skills they can transfer to real life. That’s a real plus for them: to already know how to use the Bloomberg terminal. That helps them get good jobs,” said Limpaphayom.

“They can market themselves as someone who’s proficient on the terminal. This can be helpful in a job search,” said Hackett. “It can be a differentiator for them when they’re seeking work.”

The finance lab is “a game changer for us,” said Allen.

Battis’ career plans include working as an investment analyst and researcher.

“The terminal has prepared me for that career. Without it here, I don’t think I’d stand a good chance of breaking into the industry,” he said.

A GRATEFUL ALUM

Other donations from the Parsons supported naming two classrooms at The School of Business and endowing a professorship position. He’s grateful for the education he received at PSU.

“PSU was one of the most wonderful things that ever happened to me,” Parsons said. “It gave me the opportunity to realize the potential I didn’t even know I had.”