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September 17, 4:00pm
RUDDER 404
Information on recently adopted University Rules
governing student travel as well as working with the
Critical Incident Response
Team will be provided by
John Schwartz, Student
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SEC investigates
former CEO’s rich
retirement package
Schlumberger
Open House
Zachry Engineering Center
Monday, September 23
10:00 a.m. - 4:00 p.m.
Tuesday, September 24
10:00 a.m. - 4:00 p.m.
Demonstrations of Schlumberger
Businesses & Technologies
Oilfield Services
Modular Dynamic Reservoir Testing Tool
Measurement While Drilling - Robotics
Nuclear Magnetic Resonance
Reservoir Fracturing with Complex Fluids
Reservoir Modelling Software
SchlumbergerSema
Schlumberger's New IT Businesses
Systems Integration at the Olympics
Energy & Resource Management Systems
Smart Card Finance & Telecommunications Systems
For additional information about Schlumberger,
please visit our website: www.slb.com
"Careers in Schlumberger”
Dalton Boutte
Schlumberger Limited. VP Operations
Monday, September 23
4:00 p.m. - 5:00 p.m.
106 Richardson Building
1
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NEW YORK (AP) — The
Securities and Exchange
Commission has begun an intor-
mal investigation into the com
pensation agreement that
General Electric Co. has with
former chairman and chief exec
utive Jack Welch, the company
said Monday.
GE said it was cooperating
with the request, which it
received Friday. That was a day
after GE’s board, at Welch's
request, cut his post-retirement
benefits to include only an office
and administrative support in
response to widespread criticism
of the extent of the perks, which
included use of a Manhattan
apartment, household staff and
use of corporate planes.
In a column in The Wall Street
Journal on Monday. Welch dis
closed he had offered to give up
many of those benefits, which
received wide attention after their
disclosure in court papers related
to his divorce.
“In these times when public
confidence and trust have been
shaken. I’ve learned the hard way
that perception matters more than
ever. In this environment. I don't
want a great company w ith the
highest integrity dragged into a
public fight because of my
divorce proceedings. I care too
much for GE and its people.”
For his service at GE. Welch,
who retired last year, became one
of the most admired businessmen
in the country. He received a $7.1
million advance for his best-sell
ing autobiography, “Jack:
Straight From the Gut."
Welch said he is giving up
some of his perks because of the
unfavorable perception they may
have created for the company.
In a column appearing under
his name in Monday’s edition of
The Wall Street Journal. Welch
said he had asked the GE board
modify his contract “by elimi
nating everything except the tra
ditional office and administra
tive support given for decades to
all retired GE chairmen and
vice chainnen.”
He said under his new con
tract. he will pay the costs which
he estimated at $2 million to $2.5
million a year for the use of
planes and the GE company
apartment in Manhattan and
other facilities and services pro
vided by GE.
Welch's announcement
comes amid a series of disclo
sures involving alleged misbe
havior by top-level executives at
companies such as lyco
International, Adelphia
Communications and ImC lone
Systems.
Two weeks ago, terms of
Welch’s compensation pack
age received wide media atten
tion after lawyers for his wife,
Jane, filed papers in which it
raised questions about w hat he
was getting.
That filing put a man who
many Wall Street and academ
ics see as one of the most influ
ential business leaders of the
20th century in some uncom
fortable company.
In Monday’s column. Welch
said he reached an agreement in
1996 under which lie opted to
take a package of benefits
extending into his retirement
instead of taking a "special one
time payment of tens of mil
lions of dollar”’ to remain as
CEO until fuming 65 in
December 2000.
He wrtHc the divorce papers
filed by his wife. Jane, “grossly
misrepresented many aspects of
my employment contract with
General Electric.’*
“In today’s reality, my 1996
employment contract could be
misportrayed as an excessive
retirement package, rather than
what it is — part of a fair
employment and post-employ
ment contract made six years
ago. For GE and its btwnl to be
dragged into these stories
because of a divorce dispute is
just plain wrong."
During his two decades as
GE’s leader, the company
expanded from a $13 billion
maker of appliances and light
bulbs into a $4X0 billion industri
al conglomerate. It has 313.000
employees in more than 100
countries.
Welch said he will continue
to consult and teach for the
company.
GE said tlx* terms of Welch’s
compensation were contained in
1997 filing w ith the SEC and that
the company “believes it has
complied with all disclosure
requirements regarding Mr.
Welch’s benefits."
I he Welches disclosed their
plans to divorce in March, short
ly after Harvard Business Review
editor Suzy Wetlaufer revealed
she had become romantically
involved with Welch while work
ing on a story about him.
Pageant 1
represen s
diversitr ^
/
ATLANTIC CITY ,
(AP) — When ihe TKu
America coniesiams t Aggie n
down the runway ncvi 111
end, they will reprK w,1!tloc
broad cross-sectiot trillion 1
America in a compeiiD«
Piano man Joel joins
NYC dating scene
NEW YORK (AP) - Billy Joel
says he's looking for someone to
spend his life with, and plans to
rent an apartment in Manhattan
to meet women.
"I'm not going to meet any
one out here," said Joel, who
lives in East Hampton, a posh
community in nearby Long
Island. "The happiest times in
my life were when my relation
ships were going well — when I
was in love with someone, and
someone was loving me. But in
my whole life, I haven't met the
person I can sustain a relation
ship with yet. So I'm discon
tented about that. I'm angry
with myself. I have regrets."
people in the news
Joel will go on tour this fall
with Elton John, and Twyla Tharp
will take to Broadway a play
called "Movin' Out," featuring
modern dance interpretations of
Joel's songs. But he said his suc
cess — including a place in the
Rock and Roll Hall of Fame — is
little consolation.
"You can't go home with the
Rock and Roll Hall of Fame," the
53-year-old told The New York
Times Magazine. 'You don't sleep
with the Rock and Roll Hall of
Fame. You don't get hugged by
the Rock and Roll Hall of Fame,
and you don't have children with
the Rock and Roll Hall of Fame. I
want what everybody else wants:
to love and to be loved, and to
have a family. Being in love has
always been the most important
thing in my life."
has never been a mo> t * ie ou '
inclusivcness. ’vSlhiih'c
Miss Alaska ?.toos.m
Will man is an Ir antes.
Eskimo. Miss South Di li'A*'' 1 '
Vanessa Shortbull is*U * 0 ®' ei s 1
Sioux Miss iX’lavkait: ^ 1
Kim Parekh is of [Student
descent Six contest*! debits \s I
black, and the conpr moncs M
ssill he hosted bs abiir said. M
son tor the first nmce'r bui^nom
Hus multicultural)
relatively receni deve
for an event that form
30 years excluded mi
of any kind.
“Certainly, it
integrate, but ihcn
America has never
leader in anything.wk is it it Im
sx.is hairsts les. fashisT; sai^. 'A
thing else.” caid Ai
Osborne, a former pc
staffer and author of'
America: The Drear:.
On.”
Since it started Si«
ago as a post-Labor Die
licity stunt on the Aa
City boardsvalk. Ik
America Pageant hassxn
known for diversity
In the 1950%. Rule’
contestant contract a
"Contestants must bevt:
health and of the wtaex
Blacks were exeta
other ways. too.
In the first half of &
tury. the pageant ik-
firefighters to chaffer
testants around to*
black'- were barred 1
jobs when the firedfp- -
began integratingifl'A '
"We broke tfcti bitnn
1958 and started doing't- ;
we were pleased '*her
first black MissAm«i«’
crowned, but in the P 1 ?'
organization, it was aCi r -
ual struggle for blacksku
ticipate.” sa 'd *
Hollingsworth, a
president of the NAA
Atlantic City chapter
In 1970. Cheryl Bn*' 1
Iowa became the p^-
first black contestant T
years later. Vanessa
made history as the ^
woman crowned
America, but got death r
and other hate mail-
The first runner-up
year was black, too. bud
ended the year ^
Williams’crown.
Miss New Jersey
Charles took over
Williams resigned *
Penthouse magazine pubn*
nude photographs of her-
Former Pageant
Leonard Horn, who
for 20 years as a voluntee
as general counsel be o
took over in 1987, sat
other pageant officials^
to ensure more w0I J ie ^
color were represented at'
pageant.
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p I or tl
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dei ts ha 1
Acgie rii
riiBny lav
bringing
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band’s.”
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year, and
every itei
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yours, the
said. “We
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tomers p;
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cash have
earn extr;
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US DA. d
and put h
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said,
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skills for
typed up
chemistry
clients sir
and she ty
which ma
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raster that
0>*
! CAL ™ S ALL OFF campus STUDENTS
< OU ;‘’ R'jirii what it means to
ec ^ Cdood Neighbor”
at the
A GOOD MAGIHtOIl
CARNIVAL,
MSiC Flag Room
aesday, September 24th
^joy p ,0: °Oam - 2:OOpm
Collect <*»
Win Cool Prizes Inform^’
^ ow cu«*i,