Richard F. Brueckner ’71 was elected Chairman of the Board of Trustees at the group’s April 22-23 meeting. He assumes his new responsibilities effective July 1, 2005. Previously, he served as the Board’s vice chair.
“Every College hopes to have an alumnus as accomplished and passionate about education as Rich Brueckner,” said College President Peyton R. Helm. “Muhlenberg is doubly blessed - first, by Rich's distinguished past service and, now, by his willingness to assume the ultimate volunteer leadership role on the Board of Trustees. Rich and his family are deeply woven into the fabric of this special place. I am looking forward to working with him as we continue Muhlenberg’s extraordinary momentum into the top echelons of private liberal arts institutions.”
Brueckner is Chief Executive Officer of the Pershing LLC, a subsidiary of The Bank of New York Company, Inc. He is a governor of the NASD and director of the NASD-Regulation, Inc. He is also on the Board of Directors of the Securities Industry Association. He is a trustee of the Foundation for Investor Education and was Chairman of its predecessor organization, the Securities Industry Foundation for Economic Education. He has previously served on the boards of the United Way of Hudson County, N.J., the Frontier Trust Company, Archipelago, LLC and the Depository Trust Company among others.
Brueckner has earned the Baker Award for Advancement of Economic Literacy from the National Council on Economic Education, as well as an award for outstanding service to the capital markets from the American Museum of Financial History.
His wife, Laurie, graduated from Muhlenberg in 1972, and his son Erik graduated in 2004.
Coach Ken Carter, the man on whom the movie “Coach Carter” is based, spoke to a packed crowd in Empie Theatre Monday, February 21, 2005 at 7:30 p.m.
Carter is a controversial high school basketball coach who received both high praise and staunch criticism when he made national news in 1999 for benching his entire undefeated basketball team for poor academic performance. Because of his action, several of Carter’s 1999 team members went on to earn four-year athletic scholarships, including his own son Damien, who was awarded full scholarship to West Point Military Academy.
Carter was selected to carry the Olympic flame on January 19, 2002, as it made its way to the Salt Lake City winter Olympics.
The event was co-sponsored by the Student Activities Office, Student Leadership Development & Greek Affairs Office and the Office of Admission.
Moody’s Investors Service has affirmed Muhlenberg College’s A1 long-term rating. The College has now maintained this solid status since January of 2002.
“Muhlenberg College is vigilant about its finances,” said Kent Dyer, the College’s Chief Business Officer. “We are pleased to receive this recognition from a respected third party.”
According to Moody’s, the outlooks for the A1 rating remain stable. This rating is based on the agency’s expectation of manageable debt levels, continued strong operating performance leading to comfortable debt service coverage, and stable enrollment in the context of strengthening student demand. The rating applies to $24.9 million on outstanding Series 1997 and Series 2001 Revenue Bonds; the former were issued through the Lehigh County General Purpose Authority and the latter were issued through the Pennsylvania Higher Educational Facilities Authority.
The College possesses numerous strengths that were recognized by Moody’s, including the excellent operating performance with a three year average margin of 11.9%, a balance sheet cushion with expendable financial resources covering debt 3.7 times, manageable capital and borrowing plans including roughly $28 million of additional debt anticipated this year and a solid fundraising track record with over $7 million in gifts per year in the recent past.